Beceem Raises Over $40 Million
in Series D-Round Financing; NEC Joins
as Strategic Investor
Added
Resources to Enable Beceem to Expand its
Mobile WiMAX Leadership
Santa Clara, Calif., Feb. 7, 2007 -
Beceem Communications (www.beceem.com), the
leading provider for Mobile WiMAX chipsets,
today announced that it has raised more than
$40 million in Series D-round financing that
will enable Beceem to expand its leadership
position in the Mobile WiMAX market. The
round was led by Teachers' Private Capital
and joined by NEC Corporation, a new investor
in Beceem, adding to the company's list of
strategic investors.
The funding will be used to accelerate the
company's existing roadmap toward achieving
robust growth in the WiMax market by investing
in new product initiatives and strengthening
Beceem's development capabilities for next-generation
mobile broadband solutions. The additional
funding will also allow Beceem to continue
to increase critical resources in support
of its growing number of customer engagements.
All of Beceem's existing financial and strategic
investors participated in the financing. The
list of both new and existing investors in
the Series D-round included: Global Catalyst
Partners, Intel Capital, Khosla Ventures,
KTB Ventures, Mitsui & Co. Technology
Investment Group, NEC Corporation, DoCoMo
Capital, Samsung Ventures, Sequoia Capital,
Teachers' Private Capital, and Walden International.
"The mobile WiMAX market is a space with
significant investment opportunities," said
Mary Dotz, CFO of Beceem. "We are
proud that some of the most sophisticated investors
in the industry have recognized our market
position and growth potential, as evidenced
by their investment in Beceem. The funding
is critical for us to continue the growth of
our organization as we scale for success at
a time of exponential growth in the Mobile
WiMAX market," she added.
About Beceem Communications Inc.
Beceem
Communications Inc. was founded in October
2003 with the goal of building a wireless
technology company offering semiconductor
solutions for the wireless broadband market.
Beceem is the leading supplier of chipsets
for the recently ratified, IEEE 802.16e standard
on which Mobile WiMAX is based. The company's
solutions target both base station and subscriber
terminal applications. Beceem combines an
experienced management team with strong technology
leadership and seasoned Silicon Valley investors,
along with a world class team of engineers.
For more information, visit www.beceem.com.
About Teachers' Private Capital
Teachers'
Private Capital is the private investment
arm of the Ontario Teachers' Pension Plan,
an independent corporation responsible for
investing the fund worth more than CDN$100
billion, and administering the pensions of
Ontario's 264,000 active and retired teachers.
With over CDN$13 billion in assets, Teachers'
Private Capital is one of North America's
largest private investors, providing equity
and mezzanine debt capital for large and
mid-cap companies, venture capital for developing
industries, and financing for a growing portfolio
of infrastructure and timberland assets worldwide.
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