Mavenir noted this new funding adds to the $250 million raised in 2022
Network software provider Mavenir announced the closing of a $100 million capital raise, which will support the company’s efforts to enable the digitization of telco networks with Open RAN (O-RAN), IMS and converged packet core.
The company noted this new funding adds to the $250 million raised in 2022. The fundraising round was anchored by Siris, a technology focused private equity firm and Mavenir’s largest equity holder, along with investment from two highly strategic ecosystem partners.
“This new capital will allow us to accelerate our capabilities in automation, sustainability, and use of AI as we enable our customers to efficiently deploy and operate O-RAN based end-to-end cloud-native networks. Our unique strategy incorporates best practices from the hyperscale, cloud and IT industries, to transform how the world connects and builds the future of networks,” Pardeep Kohli, president and CEO of Mavenir, said.
“Importantly, this investment enables Mavenir to further scale its business and maintain its leadership in O-RAN and 5G transformation,” said Hubert de Pesquidoux, a Siris executive partner and executive chairman of Mavenir. “We firmly believe in the automated networks of the future that are cloud-native, AI-native and Green-native, and we are confident that Mavenir’s innovations are essential in driving that evolution.”
In January 2023, Mavenir announced the availability of its new Fixed Wireless Access solution (FWA), which combines its open virtualized RAN, converged packet core and OpenBeam portfolio of radio units.
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The firm said that this offering provides a competitive solution in a low-footprint deployment that leverages public and private cloud infrastructure. Mavenir also highlighted its FWA solution supports 4G, 5G Non-Standalone (NSA) and 5G Standalone (SA) deployments, as well as massive MIMO radio technology and 5G millimeter wave frequency bands to enable gigabit downlink speeds to multiple users in the same coverage area.
Last month, U.K. telecom operator Virgin Media O2 said it has selected Mavenir as its O-RAN vendor. The telco noted that Mavenir will also be the prime integrator, providing its Open virtualized Radio Access Network (Open vRAN) solution for sites on Virgin Media O2’s network.
Also, Virgin Media O2 will work with Mavenir to deploy a scalable Open vRAN solution as part of its network evolution plans. Mavenir’s Open vRAN solution is built from the ground up to be cloud-native, with fully containerized microservices allowing it to be deployed easily on any cloud, the company said. The vRAN solution provides a vendor-agnostic and future-proof architecture, Virgin Media O2 said.
In February, Mavenir has been chosen for Deutsche Telekom’s O-RAN deployment in a country of its European footprint. Under the terms of this contract, Mavenir will be delivering its OpenBeam massive MIMO radios as well as third party O-RAN based Radio Units (O-RU) for open Fronthaul. In addition, Mavenir will also act as end-to-end system integrator for that deployment.