Indoor wireless access solutions developer MobileAccess Inc. has raised $15 million from Viola Partners and some existing investors. The financing round comes after the company raised $7 million in December 2009, and brings the total amount raised since it was founded in 1998 to $88 million.
MobileAccess' solution is based on deploying high-speed fiber-optic lines within buildings, sometimes on each floor. The company installs a wireless access point comprising a set-top box that converts the optical signal into a radio frequency signal. The solutions provide cellular coverage and transmission by most systems, including WiFi.
MobileAccess has also developed wireless medical measuring solution for monitoring patients. Most of the company's business is with hospitals.
MobileAccess will use proceeds from the present round to strengthen its market position in the US and expand to new markets.
Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010