GenXComm, a US-based telecommunications startup solving the issue of wireless networks which are unable to deal with heavy traffic, has raised US$ 20 million in a Series B funding round led by Motive Companies on 9 September 2021.
Investors: The latest investment round featured Motive Companies as the lead investor with participation from The Raine Group and existing investor BMW i Ventures. The startup has managed to raise, in total, US$ 29 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the latest investment round towards increasing the pace of its further product development and introducing a private 5G network and 4G LTE solutions.
About GenXComm
Brought to existence in 2016 by Hardik Jain and Sriram Vishwanath, GenXComm amalgamates photonics and radiofrequency to address the challenges of the current scenario of wireless connectivity infrastructure. Its core meshing technology aims to disrupt the boundaries of traditional signal processing technologies and microelectronics to provide rapid, authentic and economical networking solutions. The company’s tech allows it to link end-user gadgets to the central network with greater efficiency and without installing supplementary fibre nodes. It envisages offering a strong network with better connectivity and on-demand offerings to businesses and industry 4.0 users across the world.
What the Founder has to say: “Businesses operating across different geographies are financing the complete automation and digital transformation of business decision systems and functions. GenXComm’s 5G and 4G LTE mobile mesh systems would offer the firm WAN with the flexibility, reliability, coverage, and safe connectivity necessary to make this modification apparent.”- Hardik Jain, Co-Founder and CTO of GenXComm.
What the Investors have to say: “GenXComm’s owes its actual supremacy to the high potential of its tech to dramatically minimize expenses while improving the rate of communications and the residual inference-free.” Robert Istwan, CEO of Motive Companies. “We have strong trust in GenXComm’s leadership team and services,
businesses to run and own their mobile networks. The personal wireless networks market has a huge scope for growth. It is exhilarating to join hands with an enterprise which is leading the innovation essential to revolutionizing the service domain 4.0.”- Chris Donini, Managing Director at The Raine Group.
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