SAN JOSE, Calif.—LGC Wireless announced it has been awarded $19.3 million in venture capital funding.
The investment was led by Allegis Capital, who will now take a seat on LGC’s board of directors. In addition, Crystal Internet Ventures invested significantly and will also now hold a board of directors seat and OMERS, an ongoing investor in LGC, contributed. Additional investors include Mayfield, AVI Capital, LG Ventures and Hook Partners.
LGC said the funding will help expansion and operational costs and to launch a new distributed wireless capacity product line. The company expects to raise an additional $10.7 million by December 2001, before closing the round.
