BelAir Networks, which builds wireless broadband solutions, said today that it has raised $21.4 million, in part, from Trilogy Equity Partners, the Bellevue-based fund started by former T-Mobile USA Chief Executive John Stanton.
The lead investor of the Ontario-based company’s fourth round was Ventures West Management.
“Trilogy Equity Partners looks for innovation, passion, and execution excellence — BelAir Networks and its management team deliver on all three,” said Trilogy’s Tim Wong, former T-Mobile USA chief technology officer. “The company’s proven and cost-effective mobile broadband mesh networks are differentiated by their carrier-class capacity, reliability and scalability. Only BelAir is applying its technology today to backhaul live cellular traffic.”
The capital will be used to roll out municipal wireless networks in cities where it recently won contracts, including Minneapolis, City of London and Toronto. The funds will also be used to continue sales and marketing activities in the cable and cellular industries, and to further expand into international markets. Today, the company’s wireless broadband technology is used in more than 150 networks worldwide.
Existing investors Comcast Interactive Capital, T-Mobile Venture Fund, Panorama Capital (formerly JPMorgan Partners), VenGrowth Capital Partners, BDC Venture Capital, and MMV Financial also participated in this round.
In addition to the equity financing, MMV Financial also provided a $5 million venture loan.