US-headquartered fixed wireless access (FWA) equipment vendor Tarana Wireless told Mobile World Live (MWL) it might consider going public in 2023, having completed all planned funding rounds and becoming cash positive.
The vendor raised $170 million in its latest funding round, which was co-led by Axon Capital, Khosla Ventures and Prime Movers Lab. A Tarana Wireless representative told MWL the investment would be used to help scale the company.
Michigan State Pension Fund, I Squared Capital and two unnamed institutional investors also participated in the latest round, which brings the total raised by Tarana Wireless to around $470 million.
The representative stated Tarana Wireless is now fully funded and is not anticipating further investment moves.
Bloomberg reported the latest round brings Tarana Wireless’ valuation to $1 billion, compared with $450 million at its last investment move in May 2021.
Tarana Wireless counts Dish Network and Liberty Global among its previous backers.
The company has developed base node radios which it claims can provide gigabit data rates to around 1,000 customers located within a few miles. The equipment can be configured to provide symmetric up and downlink speeds as an option.
Tarana Wireless stated it is on track to rake in more than $100 million in revenue this year from a customer base of more than 120 service providers including BT Group, MTN Group and Liberty Global along with wireless internet service providers Wisper Internet, Redzone Wireless and Resound Networks.
The company plans to add 100 staff to its current 250 employees over the next 12 months, targeting its R&D, marketing, sales and operations units.Subscribe to our daily newsletter Back