21 Jun '12, 6am

Optus and SingTel Innov8 give Australian startups a boost with new local Seed Program

MOBILE WORLD CONGRESS, Barcelona, 27 February 2012 – Ruckus Wireless™ (Ruckus) today announced that it has secured $21.7 million in financing, increasing the total investment in the company to $72.7 million since its formation in June 2004. In addition, the company named two new industry luminaries, Richard J. Lynch and Georges Antoun, to its board of directors. Joined by existing investors, the financing was led by two new investors, Meritech Capital Partners and SingTel Innov8, a wholly owned subsidiary of the SingTel group. Profitable and cash flow-positive in calendar year 2011, Ruckus will use the proceeds to expand and fund future growth into the explosive carrier mobile Internet infrastructure market as well as to bolster its rising position in the enterprise wireless LAN market. “The impact of the mobile Internet is transforming the telecom industry, congealing new...

Full article: http://innov8.singtel.com/news.html#optus

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