Guerrilla RF Inc of Greensboro, NC, USA, which provides monolithic microwave integrated circuits (MMICs) to wireless network infrastructure original equipment manufacturers, has closed a $2m Series B funding round led by two angel investors Charlotte Angel Fund and Piedmont Angel Network (and joined by a growing list of individual investors).
Founded in April 2013 by Ryan Pratt, Guerrilla RF has so far raised $3.5m in funding and introduced more than 30 products. Using patented Guerrilla Armor technology that is claimed to enable greater coverage area and higher data rates for wireless networks, applications include enterprise/carrier-class WiFi access points, small cells, wireless backhaul, and cellular repeaters.
"Customer interest and design activity continues to blow away our expectations," says founder & CEO Ryan Pratt. "As a result of securing over 20 design wins, we are being driven to accelerate mass-production schedules for multiple products," he adds. "With this funding, we can ramp up our revenue much more quickly and pursue our goal of achieving self-sustaining cash flow in 2016."
According to analyst firm Research and Markets, the overall wireless network infrastructure market will incrase at a compound annual growth rate (CAGR) of over 5% to more than $104bn by the end of 2020.
