Guerrilla RF Inc. announced the closing of a $2.8 million Series D funding round — a combination of equity and debt — with participation from multiple angel investors. Based in Greensboro, North Carolina, Guerrilla RF provides high performance RF and microwave integrated circuits for wireless infrastructure.
Guerrilla RF expects to employ 20 total associates by year-end, and the firm will be expanding their current facility to accommodate projected growth.
“Coming out of an exciting year, we see even larger opportunities ahead of us,” said Ryan Pratt, founder and CEO of Guerrilla RF. “It is clear that we need to expand our facilities and team to capitalize on the amount of additional business that we have in front of us. This Series D funding round will give us the capital to do exactly that, as well as fueling our working capital needs and new product development pipeline.”
According to Research and Markets, the overall wireless infrastructure market will grow at a compound annual growth rate of over 5 percent, reaching over $104 billion in annual spending by the end of 2020.