FOUNTAIN VALLEY, Calif., Sept. 9, 2021 /PRNewswire/ -- Motive Companies, a leading provider of renewable energy and infrastructure solutions, today announced a strategic investment in GenXComm, an early leader in private networking solutions. Robert Istwan, CEO of Motive Companies, will join as an active member of the Board of Directors. The new funding will be used to accelerate the company's product development and commercial launch of their private 4G, LTE, and 5G network solutions, playing a critical role in ushering in the Fourth Industrial Revolution. Motive Companies will also support GenXComm's go-to-market strategy by providing access to its portfolio companies, scale, and existing customer base.
GenXComm, an early leader in private networking solutions.
Founded in 2016, GenXComm is the first company in the world to combine radio frequency and photonics to solve the problems associated with today's wireless connectivity infrastructure. The company's innovative wireless interference cancellation and mesh network technology breaks through the limits of conventional wireless capabilities, allowing for faster, more reliable, and more affordable networking solutions.
"With our substantial experience in providing telecommunication infrastructure solutions across the country, a partnership with GenXComm made sense," said Istwan. He continued, "I'm very proud that with GenXComm's technology, we can now offer our customers an advanced infrastructure solution to create their own private cellular network."
GenXComm's solution can be deployed for enterprise and industrial customers as a turnkey, private LTE 4G and 5G mesh network that can operate in a variety of spectrum bands, including CBRS. This unique solution optimizes performance, cost, and spectrum utilization by allowing communication to transmit simultaneously while on the same frequencies.
"Enterprise and Industrial customers worldwide are investing in the digital transformation and full automation of business processes and decision systems," said Hardik Jain, CTO of GenXComm. "GenXComm's 4G LTE and 5G cellular mesh systems will provide the enterprise WAN with the coverage, reliability, agility, and secure connectivity required to make this transformation a reality."
It was also announced today that GenXComm closed a $20 million Series B funding round led by Motive Companies, with participation from Raine Next-Gen Communications and existing investor BMW iVentures. Motive and Raine join an existing investor base that includes Intel Capital, Azure Capital, and Bandgap Ventures, amongst others.
About Motive Companies Motive Companies is a leading provider of renewable energy and infrastructure solutions for industrial and commercial applications. Our comprehensive portfolio includes energy storage & management, solar photovoltaic, lithium-ion batteries, electric vehicle & forklift charging, LCF credits, as well as wireless, broadband & 5G. From design, construction, maintenance and installation, we provide true end-to-end services that support all energy, battery, charging and telecommunication needs. With offices across North America and a workforce of 700 professionals, we have the geographical reach, scalability, and financial stability to meet customers' changing needs. At our core, Motive Companies develops renewable energy and infrastructure solutions to create a more sustainable society. More information: https://motivecompanies.com
About GenXComm GenXComm Inc. was founded in 2016 to commercialize years of research and development at the University of Texas at Austin around dynamic filtering and Radio Frequency (RF)-photonics systems. The company's mission is to deliver limitless computing power, fast connectivity, and on-demand intelligence to every location on Earth. Its technologies strive to break through the limits of conventional microelectronics and signal processing technologies using micro photonics – delivering faster, smaller, lower powered intelligent devices connected by high-speed networks available everywhere. For more information, visit https://www.genxcomm.com
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