Confidence in Wireless Tech on the Rise
Despite the present turbulent economic environment, there
appears to be still money out there, especially if a company’s
strategy and technology targets the wireless enterprise. This
appears to be the case in three recent funding announcements from
browser marker and software-enterprise firm Neomar; fixed-wireless
broadband service provider Air2LAN Inc.; and wireless solutions
provider Antenna Software.
Neomar
San Francisco-based Neomar has captured $15-million in its
second round of financing from Clearstone Venture Partners, formally
Idealab. The investment will enable Neomar to develop its second
generation of products, which includes the Neomar Enterprise
Solution. For the enterprise, the software offers end-to-end secure
delivery of critical data, and tools to manage the most popular
lines of wireless devices, from RIM, Palm and makers of Microsoft
PocketPC appliances.
"With this additional funding we can take the company to the
next level, supporting a larger number of customers and building our
next generation of products, said William R. Winters, CEO of Neomar.
Air2LAN
Air2LAN has secured a total of nearly $5-million in financing
from venture capital firm Delta Capital Management LLC and other
outside investors.
The Memphis-based VC invested about $1.5 million through a
convertible promissory note while others invested about $900,00 in
exchange for Air2LAN common stock, the company said.
The influx of funding will allow Air2LAN to advance its services
such as high-speed wireless access, Web design, Web hosting,
e-commerce, network security, and VPN services.
Antenna Software
Based in New York’s Silicon Alley, Antenna Software announced
it has closed $17-million in second-round funding led by Polaris
Venture Partners, North Bridge Venture Partners and Hunt Ventures.
Antenna plans to use the capital to further enhance its position
in providing wireless and Web-based solutions to the mobile
workforce and mobile field service providers, the company said.
For more information:
http://www.neomar.com/company/newsroom/press/01.04.16clearstone.html
http://www.air2lan.com/newsroom/press_releases_2001_8.html
http://www.antennasoftware.com./nr041601.asp
Mobileinfo Comments and Advisory: North American
investment community excels in boom and bust economy. The wheelers
and dealers manipulate "follow-me-like-other-sheep" mentality
of most of us who are led to believe that everything must be good at one
time and bad at other times. Therefore, it is good to see some sobriety
among certain VCs who after a pause, must go on building future
businesses in our industry - of course, with caution and conventional
wisdom.
