Richardson-based Radio Access Network solutions company Ranzure Networks Inc. announced recently that it has completed a $13 million Series A funding round, co-led by LiveOak Venture Partners and Richardson-based Mitel.
The company also announced that Venu Shamapant, a co-founder and general partners of Austin-based LiveOack Venture Partners, will join its board of directors.
“Network densification, IoT, and new spectrum availability will enable applications and devices that will fundamentally transform the way we live and interact with our surroundings,” Ranzure President and CEO Pardeep Kohli said in a release. “The next generation mobile networks are expected to handle much more data volume, connect exponentially more devices, significantly reduce latency and bring new levels of reliability. A flexible Radio Access Network is a key cornerstone for this evolution.”
Kohli said his company would bring “flexible, virtualized, cloud-based 4G/5G RAN solutions to address the evolving market needs.”
In the release, Ranzure said it will use the capital to continue development of its products and solutions for service providers and partners around the world.
The company also said that it would build sales and operations teams for emerging network technology solutions.
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