Bangalore WiMax Startup Sloka Telecom In Talks With Intel Capital, Motorola Ventures
Bangalore-based WiMax startup Sloka Telecom is reportedly in talks with venture capital funds such as Intel Capital and Motorola Ventures to raise its first round of funding, reports EE Times. Sloka is said to be looking at $8 million funding from VCs.
Intel Capital MD in India Sudheer Kuppam had told this website earlier about their willingness to invest in WiMax service providers and technologies. Intel Capital is one of the few funds who find WiMax as an exciting telecom opportunity.
Sloka was formed in 2004 as a provider of broadband wireless solutions to cellular operators and network equipment vendors in emerging markets, according to the company website. It looks at the new opportunities emerging from green field deployments of broadband wireless network and migration from older 2G/2.5G networks to newer 3G networks.
According to EE Times, Sloka has deployed a WiMax network in France and expects to begin offering services in April. It is also looking at Indonesia and Brazil, where it will roll out its mobile WiMax solution early next year, the report says, quoting Sloka CEO Sujai Karampuri.
Earlier, WiMax solutions provider Telsima has secured ventured funding of close to $80 million from funds such as NewPath Ventures, New Enterprise Associates, CMEA Ventures, and JAFCO Asia. Reliance Communications also recently invested in Sequans Communications, a France and US based company that provides WiMax chips.
