EdgeQ raises $75m in Series B funding to scale its 5G and artificial intelligence silicon platform.
The financing round was backed by institutional and strategic investors including Phaistos Investment Fund and Strategic Development Fund.
≈ £60.3M at $1 = £0.8038 on 20 Apr 2023
EdgeQ develops a compact 5G and artificial intelligence base station on a chip designed to simplify cellular infrastructure deployment.
EdgeQ has secured $75m in a Series B funding round backed by a group of institutional and strategic investors to scale its wireless infrastructure technology.
The financing included participation from Phaistos Investment Fund, Strategic Development Fund, EDBI, IRONGREY, ST Engineering, Yaletown, and ClearSky, alongside other existing backers, bringing the company total capital raised to $120m.
The firm intends to direct the new capital towards advancing its next-generation silicon and expanding production of its integrated 5G and artificial intelligence base station platform.
From the founder
"It is really exciting to see a rich mix of institutional and strategic investors validate the mission and spirit of EdgeQ. We are here to empower and enable new players, new participants, and new providers of 5G connectivity and internet access in simplistic, affordable terms,"
Vinay Ravuri
CEO at EdgeQ
Use of funds
- 01Continue product development
- 02Fund research and development
