Wednesday, September 6, 2006

Clearwire Boosts Investments To $1B

Kirkland, Washington-based WiMax startup Clearwire announced today that it has increased its financing round to more than $1B, and also secured $125M in debt financing. The firm, which is looking to develop a nationwide WiMax network. Funding came from Intel Capital and Motorola Ventures. ClearWire had previously announced $900M in funding from the firms. Arvind Sodhani of Intel Capital, and David Perlmutter of Intel Mobility Group, have joined the firm's board as part of the funding. Morgan Stanley, Merrill Lynch and JP Morgan provided the debt financing. More information »