Mimosa Networks, the designer of super-fast Wi-Fi networking gear, has raised $20 million in a new round of funding from New Enterprise Associates.
Campbell, Calif.-based Mimosa plans to use the upcoming 10G wireless Wi-Fi chips from Quantenna Communications to deliver Wi-Fi performance that is faster than a gigabit per second, or several times faster than many existing Wi-Fi networks.
NEA led the third round of funding, while Oak Investment Partners returned as a participant. To date, Mimosa has raised $38 million in venture funding. Mimosa plans to use the additional capital to expand its wireless product line and expand sales globally.
“The wireless industry is set to explode in the coming years, and Mimosa’s technology is unique in its ability to help networks scale to meet the needs of the global communications market,” said Greg Papadopoulos, a venture partner at NEA, in a statement. “We are excited to have the chance to ‘double down’ on a company so clearly poised to transform and revolutionize the wireless space.”
Mimosa and other companies are asking the Federal Communications Commission to free up the 10-GHz band of the wireless spectrum for wireless internet communications. Mimosa plans to make gigabit wireless platforms for internet service providers. It plans to launch its products this year, and it is targeting the technology at outdoor wireless applications.
“We are pleased to announce this most recent round of funding and look forward to not only expanding our product suite but to also furthering our capacity for profound innovation in the space,” said Brian Hinman, the cofounder and CEO of Mimosa, in a statement. “The readiness of these firms to aggressively invest in Mimosa only reinforces our confidence that our upcoming product suite will be broadly embraced by the wireless industry and by service providers.”
Hinman, previously founder of Polycom and 2Wire, and Jaime Fink, chief technology officer, started the company in 2012. Mimosa has 46 employees.