TALLINN, ESTONIA December 08, 2010 – Modesat Communications, a point-to-point radio modem solutions developer, secured 1.85 million EUR in A round funding to place its broadband wireless transmission products to global market.
The investment is jointly committed by existing shareholder Ambient Sound Investments, an investment vehicle formed by 4 former lead engineers of Skype, the Estonian Development Fund, a national VC fund, and privately owned financial investor Bellus. A total investment is 1.85 million EUR, which will help company in expanding its operations and introduce new generation of modems in microwave and millimeter wave radio field.
“Although point to point broadband radio market has generally suffered in 2008 and 2009 due to abrupt dip in telecom investments, there were still segments where growth rates were triple digit. Such areas are for instance high capacity hybrid radios, which bridge legacy and future IP based networks, as well as pure Ethernet based radios” said Peep Põldsamm, CEO of Modesat Communications. “In 2010 and onwards we expect the market to recover, and see demand for high capacity radios to grow even further. To be able to serve this demand, we need to expand both in terms of stronger market presence as well as product selection”.
“Modesat Communications has a good market potential, where rapidly increasing demand at long time-to-market is sustaining OEMs interest towards company’s products” said Mr Andrus Oks, the representative of Estonian Development Fund.
Modesat develops and provides FPGA-based high capacity modulator-demodulator IP Cores and SoC (System-on-Chip) solutions for TDM, Hybrid and Ethernet Radios based on its patented PilotSyncTM technology. Modesat products are software upgradable to account for future requirements, and hence are designed to support longer life cycle of radio units.
About Modesat Communications
Modesat Communications is a developer of point-to-point modem technology with R&D centers in Estonia and Belarus, and representative offices in Silicon Valley (USA), Tel Aviv (Israel), Tallinn (Estonia) and Gomel (Belarus). Modesat offers modem solution products for wireless and wired communication applications utilizing its patented PilotSync™ technology that provides higher data throughput, better spectrum efficiency and communication link reliability at low hardware costs.
PilotSyncTM is a trademark of Modesat Communications. All other trademarks, service marks and company names are the property of their respective owners.
More information:
Modesat contacts:
Mr. Tarmo Pihl, VP Business Development and Sales
Telephone +372 712 0280, mobile +372 50 19568, e-mail info@modesat.com
www.modesat.com
