Venture Capital News: PlusN Raises $600K Seed Round
NEW YORK, NY, Leading innovator in carrier aggregation software solutions for increasing capacity in mobile data networks, today announced raising $600,000 in seed financing
+n (PlusN, LLC), a leading innovator in carrier aggregation software solutions for increasing capacity in mobile data networks, today announced raising $600,000 in seed financing to accelerate product development and commercialization efforts. This investment supports an earlier $2 million investment in the research and development of the +n technology by HYPRES, the company's former parent company.
+n's software addresses the global spectrum crisis that is crippling mobile operators. The Company's patent pending Smart Carrier Aggregator utilizes innovative signal processing techniques enabling mobile operators to cost effectively generate significantly more mobile data capacity in their networks. The software will be deployed in macro and small cell base stations, significantly enhancing the value of advanced data networks including existing technologies such as 3G, 4G and beyond.
"Consumers and enterprises unlimited appetite for mobile broadband data presents the most significant opportunity and challenge for mobile operators," said Per von Zelowitz, co-founder and CEO of +n. "Mobile operators will invest billions of dollars in deploying more than 14 million macro and 90 million small cell base stations by 2016, according to Informa Telecoms and Media. Our software improves the mobile operator business case for mobile broadband data, and greatly improves the return on investment for mobile data network build outs."
Haig Sarkissian, Principal Consultant at Wireless 20/20 comments, "+n's Smart Carrier Aggregation technology could play a significant role in improving the performance of multi carrier base stations. This in turn, will enable spectrum sharing by LTE service providers, which could be game changing."
The spectrum crisis is a result of the massive increase in demand for mobile broadband data-driven by the growth of smart phones and tablet devices-that is colliding with severely capacity-constrained mobile networks and finite spectrum resources. Cisco forecasts that global mobile data traffic will increase 18-fold between 2011 and 2016 and the Federal Communications Commission forecasts that mobile operators in the United States will be critically capacity constrained by 2013, crippling the promise of ubiquitous mobile broadband.
"+n is attacking one of the most significant global technology challenges, the spectrum crisis, in a capitally efficient and scalable way," said John Levy, Chairman of the Board at +n. "With this new investment, +n will be able to deliver its technology to customers so that they will be able to integrate the smart carrier aggregation software seamlessly into their networks."
+n (PlusN, LLC) is a leader in developing smart software solutions enabling mobile communications providers to efficiently capture additional capacity from their existing networks and spectrum resources. +n partners with the leading technology vendors and original equipment vendors to deliver their patent pending software solutions to mobile communications providers. The company is based in New York City and is backed by leading venture investors and angels such as Franklin "Pitch" Johnson of Asset Management Corp, Chris Brody of Vantage Partners and John Levy.
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