Bangalore: KNL Networks, a Finland-based nextgen internet technology company, closes its series A round worth $10 million led by Creandum, along with existing investors – Inventure and Butterfly Ventures, and angel investors such as Juha Hulkko, Founder, Bittium; the Tamares Group led by Poju Zabludowicz and John Lindfors, Partner, DST Global. The company did not disclose the information about where the fresh funds will be invested in.
“KNL has been extremely fortunate to have attracted continued interest from our Seed-level investors as well as visionary VCs and angels who have seen the tremendous capabilities offered by our technology,” says Toni Linden, CEO, KNL Networks. “Like Facebook and Google, we see ‘Internet Anywhere’ as a means to an end, and we believe our technology is ideally suited to making that happen in a wide range of industries, applications and geographies worldwide, he adds.
Headquartered in Oulu, Finland, KNL Networks was founded by Toni and Sami Lampinen in 2011. The company leverages the latest software defined and cognitive radio technologies and focuses mainly on developing high frequency wireless communication systems. These systems rely on shortwave radio transmissions and allow the data to be transmitted over very long distances. Through this, KNL provides safe and dependable communication across the globe, always operations, and which is easier to use than a satellite communication.
Since its inception, KNL Networks has raised a total of $12.67 million in two funding rounds. Previously, it had raised his seed round worth $2.67 million from Inventure and Butterfly Ventures.