BelAir Networks Snares $21.4 Million in Funding

BelAir Networks, a provider of mobile wireless broadband mesh network solutions, announced on Monday that it has secured a $21.4 million Series D financing round, led by Ventures West Management Inc. Trilogy Equity Partners also participated in this round. “In the last year, BelAir has landed top-tier customers in each of its target markets – municipal, cable, and cellular,” said Sam Znaimer, Senior Vice President, Ventures West Management Inc. “This funding will give BelAir expanded resources with which to respond to strong market demand and to accelerate its sales and marketing initiatives.” Existing investors Comcast Interactive Capital, T-Mobile Venture Fund, Panorama Capital (formerly JPMorgan Partners), VenGrowth Capital Partners Inc., BDC Venture Capital, and MMV Financial also participated in this round. In addition to the equity financing, MMV Financial also provided a $5 million venture loan. According to the press release, the capital received from this financing will support BelAir Networks in the municipal networks market. The funds will also be used to continue the company’s sales and marketing activities in the cable and cellular industries, and to further expand into international markets. BelAir’s wireless broadband mesh technology is deployed in more than 150 networks worldwide.