Wednesday, May 23, 2007

Navini Secures $50 Million in Series F Funding

Wireless access equipment provider Navini Networks Inc. has garnered $50 million in Series F equity financing, one of the round's primary investors reported Tuesday. Arcapita Ventures, the venture capital arm of Arcapita Bank BSC, said it led the effort alongisde Austin Ventures. Navini also received contributions from existing investors Granite Ventures, Investor Growth Capital, Lehman Brothers Venture Partners, Sternhill Partners, Intel Capital and Motorola Ventures, as well as new investor Scottwood Capital. Arcapita's Tom Hawkins will join Navini's board of directors. Headquartered in Richardson, Texas, Navini Networks Inc. manufactures WiMAX wireless broadband access equipment. More information »