Guerrilla RF Inc., a leading provider of high performance microchips for wireless network infrastructure, announces the closing of a $2 million Series B funding round led by two angel investors. Charlotte Angel Fund, Piedmont Angel Network and a growing list of individual investors also participated.
“Customer interest and design activity continues to blow away our expectations,” said Ryan Pratt, founder and CEO at Guerrilla RF. “As a result of securing over 20 design wins, we are being driven to accelerate mass production schedules for multiple products. 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 Research and Markets, the overall wireless network infrastructure market will see tremendous growth over the coming years. Growing at a compound annual growth rate of over 5 percent, the market will account for over $104 billion in annual spending by the end of 2020.