RealTime IT News

NextNet Wireless Picks Up $10 Million

NextNet Wireless Inc. is one step closer to making its national broadband fixed wireless access system a working reality.

The developer of desktop ready, plug-and-play customer premises equipment Wednesday announced it raised $10 million in second round venture capital funding.

In addition to the $8 million raised from its first round financing, NextNet Wireless is on track to rollout its wireless last-mile delivery systems later this year.

NextNet's second round investors include DCM-Doll Capital Management, JAFCO Ventures, Cabletron Systems Inc., and Joe Costello, ZAMBA Corp. and think3 chairman.

Ralph Muse, NextNet chief executive officer, said the funding included a key strategic alliance with Calbletron Systems.

"This completes the total funding required not only for product launch, but also to sustain the company through volume production and into profitable operations in 2001," Muse said. "We are very pleased to have the continued backing our original investors, and excited to form a new strategic relationship with Cabletron Systems."

For the time being, NextNet Wireless is a privately-held start-up company that is constructing an end-to-end broadband wireless Internet access system based on Multi-channel Multi-point Distribution System technology.

Designed for rapid deployment of two-way voice and data services over the a fixed wireless communications network, the company's point-to-multi-point system enables MMDS service providers to deliver low-cost, converged services to residential and small business subscribers over a single integrated network.

Initially, the MMDS technology will be used in the 2.5 to 2.686 gigahertz band for wireless communications. NextNet Wireless is working on a way to leverage the 3.5 gigahertz, 700 megahertz, and personal communications services digital cellular frequencies to deliver a variety of broadband communication services.