Recent Investment Brings Total fSONA Funding to $51.5 Million
fSONA Communications, designer and manufacturer of the award-winning SONAbeam™
optical wireless transmission equipment, today announced an additional $9.5
Million in financing.
Despite the tough market conditions of 2002, fSONA received total investments
of $19.5 Million. A private group of current and new investors provided
$9.5 Million, which followed on the heels of significant investment - $10
Million - from the Government of Canada’s Technology Partnerships
Canada Program. Prior to the 2002 funding, fSONA had received $32 Million
in venture capital.
“As lead investor, we are pleased to continue funding fSONA, its products
and people,” said Jim Charlton, Senior Vice President of GrowthWorks
Capital Ltd., manager of the Working Opportunity Fund. “fSONA is a
well run company with great potential in its target markets.”
“fSONA, and its management team, are delighted to have the continued
support and confidence of investors like Growthworks” said Theresa
Carbonneau, fSONA’s President and CEO. “fSONA has positioned
itself for success with industry leading technology, strong partnerships,
award-winning products, key strategic customers and a supportive investment
fSONA Systems is recognized as the preferred provider of optical wireless solutions for government, enterprise and service provider markets around the globe. Leveraging leading edge advancements in 1550nm optical transmission, the SONAbeam family of systems, based on free-space-optics (FSO), use a globally unlicensed, wireless technology to provide speeds up to 2.5 Gbps over distances up to 7km. For more information visit www.fsona.com
For more information about fSONA, SONAbeam or Free-Space Optical Wireless, please contact:
fSONA and SONAbeam® are trademarks of fSONA Networks. All other trademarks are properties of their respective companies.