Reports

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Venture Capital Funding and M&A Quarterly

Telecom • Wireless • Mobile • Communications

1st Quarter, 2008 – United States

Published by: VentureDeal

Sponsor: GVA Kidder Mathews

Summary

During the first quarter of 2008, the four sectors raised a total of $614 million in new venture capital investment among 65 companies, representing a drop of 16% in aggregate funding amount and a 7% drop in the number of companies funded when compared to the previous quarter. (Table 1)

M&A transaction activity was down sharply with a 69% drop in deal volume spread among only three transactions. There were no Communications companies acquired during the quarter. (Table 2)


Funding Activity

Telecom

The Telecom sector received a total of $76 million in new funding, a drop of 44% from the previous quarter. The number of companies funded also dropped to 10 from the previous quarter’s 13.

ClearLeap received an initial funding of $9 million from co-lead investors Trinity Ventures and Noro-Moseley Partners. ClearLeap is developing technology that “expands consumer options” for learning about what is on TV programming.

The largest funding event was for Universal Space Network, which received $18 million in a debt and equity round funded by Warburg Pincus, Comerica Bank and others. Universal Space Network coordinates communications technologies related to satellite launches.

Wireless

During the quarter, Wireless companies raised the lion's share of capital among the four reviewed sectors, receiving $298 million between 27 companies. This represented a 26% increase in total funding amount and a 17% increase in the number of companies funded. A number of wireless networking companies across a variety of sub-sectors were rewarded with initial and follow-on fundings.

In the home automation and control sector, wireless telecom provider Continuum 700 (no website) received $22.9 million from Claritas Capital and Clayton Associates. Zensys received an undisclosed amount of new funding from Bessemer Venture Partners, Cisco Systems, Intel Capital and the Panasonic Venture Group. Zensys is creating wireless mesh networking technologies for home monitoring solutions.

In the carrier products space, Airbiquity received a $25 million expansion round of funding from lead investor Ignition Partners, Shell Internet Ventures, Acorn Ventures and others. Airbiquity provides wireless data communications solutions to service providers in the M2M and telematics spaces.

AirWalk Communications, a CDMA radio access network developer that supplies voice and data platforms to address hotspots and blind spots for in building/campus networks, received $10 million in new funding. The company has raised more than $33 million in total funding.

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