Newlans, Inc. Closes $20 Million Series B Financing with $5 Million from Verizon Ventures
Funding to Support Product Execution and Customer Engagement for Breakthrough RF Programmable Filter Solutions for 4G LTE Smart devices and Small Cells
ACTON, MA – May 29, 2014 – Newlans, a technology innovator in RF solutions, today announced that it has raised an additional $5 million investment from Verizon Ventures to complete its Series B financing round, totaling $20 million. The initial $15 million closing in February included existing investors Paladin Capital and Lockheed Martin, as well as two new strategic partners. The funding will be used to accelerate the development and commercialization of Newlans’ Programmable Duplexer, targeting front-end radio frequency modules for 4G LTE mobile devices and small cells. .
“This new funding is a significant milestone in realizing Newlans’ game changing vision for RF Front End solutions. The adoption of our Programmable Duplexer will reduce cost and time to market while vastly expanding the number of bands supported by 4G LTE mobile devices. It will also support the ever increasing demand for multi-band Carrier Aggregation,” said Divi Gupta, COO, Newlans. “We will use this funding to accelerate product commercialization, build-out our engineering and manufacturing team and engage early adoption partners and customers.”
With the prolific expansion of LTE bands and worldwide adoption of Carrier Aggregation, multiband, multi-mode mobile devices are becoming increasingly difficult to design cost effectively. Since the inception of the mobile phone, the area between the antenna and transceiver has changed little with regard to architecture, while there has been substantial digital integration. Newlans has developed breakthrough technology that will change the way future front ends of mobile devices are implemented.
“Verizon was the first wireless provider to build a national 4G LTE network, and now operates the largest and most advanced one in the nation,” said John Doherty, Senior Vice President of Corporate Development at Verizon. “Verizon is excited to invest in the next generation RF technologies for mobile devices. We look forward to supporting Newlans and seeing it realize its potential.”
About Verizon Ventures
Verizon Ventures LLC seeks and invests in promising entrepreneurial companies who are tackling some of today’s biggest challenges for Verizon's consumer and enterprise customers. Over the last decade Verizon Ventures has invested in more than forty companies covering a range of industries, technologies and market segments. Verizon Ventures offers support to its portfolio companies with technology and product development, market planning and sales, and access to the networks and platforms of Verizon Communications. For more information visit www.verizonventures.com
Verizon Communications Inc., headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with nearly 103 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with more than $120 billion in 2013 revenues, Verizon employs a diverse workforce of 176,900. For more information, visit www.verizon.com.
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