Rayspan Raises US$12.5 million in Series B Financing from Khosla Ventures & Sequoia Capital
SAN DIEGO, July 27 /PRNewswire/ --
Rayspan Corporation, the world's leading innovator of metamaterial air interface solutions for wireless communications, today announced that it has received US$12.5M in a Series B financing led by new investor Khosla Ventures, who was joined by existing Rayspan investor Sequoia Capital as well as individual private investors. The financing will be utilized by Rayspan to accelerate and expand the development and commercialization of its breakthrough metamaterial wireless technology.
"Rayspan is on track to global leadership in developing and commercializing the exciting new field of metamaterials for wireless communications," said Pierre Lamond, General Partner at Khosla Ventures. "Their advanced and proprietary technology is strongly differentiated and market-proven, and we believe they will become an industry-leading air interface provider in the huge wireless markets they target."
"Rayspan is delighted to have Khosla Ventures join its shareholders," said Franz Birkner, CEO of the company. "Their support, together with that of Sequoia Capital, is a clear vote of confidence in Rayspan's exciting opportunity to broadly deploy its breakthrough metamaterial air interface solutions in the world's largest WLAN and 2/3/4G cellular handset markets."
Founded in 2006, Rayspan is the world's leading innovator of metamaterial air interface solutions for wireless communications. Metamaterials provide breakthrough improvements in antenna and RF front-end component miniaturization, performance, cost reduction and ease of manufacture. Rayspan's solutions support a full range of fixed and mobile wireless WAN and LAN applications including all 2/3/4G cellular handsets, WiFi, Bluetooth and GPS. To learn more about Rayspan Corporation visit www.rayspan.com.
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough scientific work in clean technology areas such as solar, battery, high efficiency engines, lighting, greener materials like cement, glass and bio-refineries for energy and bioplastics, and other environmentally friendly technologies as well as traditional venture areas like the Internet, computing, mobile and silicon technology arenas. To learn more about Khosla Ventures visit http://www.khoslaventures.com/
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Keerti Melkote of Aruba Wireless Networks and Jonathan Kaplan of Pure Digital. To learn more about Sequoia Capital visit www.sequoiacap.com.
SOURCE Rayspan Corporation
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