EdgeQ Inc announced a $75 million investment round of funding as well as the appointment of Lattice Semiconductor CEO and President Jim Anderson to the company’s Board of Directors. EdgeQ will use the funding to ramp production of its 5G + AI “Base Station-on-a-Chip” to meet customer demand and to develop its next generation chip. The $75 million funding consists of both institutional and strategic investors, including Phaistos Investment Fund, Strategic Development Fund the investment arm of the United Arab Emirates Tawazun Council, Singapore-based global investor EDBI, IRONGREY, ST Engineering, Yaletown, ClearSky and other existing investors.
EdgeQ’s revolutionary approach to wireless infrastructure unifies both 4G and 5G into a single chip that can elastically scale in performance and features via software upgrades. EdgeQ is the only company offering multi-mode 4G/5G convergence along with a production grade 4G/5G PHY layer for O-RAN distributed unit and small cells.
“It is really exciting to see a rich mix of institutional and strategic investors validate the mission and spirit of EdgeQ. We are here to motivate new and existing players, innovating to deploy private 5G networks and O-RAN networks in simplistic, affordable terms,” said Vinay Ravuri, CEO and co-founder of EdgeQ. “By removing the friction and price premium that traditionally accompanies cellular deployment, we have envisioned a new backbone that is simple, intuitive and open. And this disruption is available now.”
The fabric of wireless infrastructure rests on access to silicon innovation that is designed expressively for a rich cross section of transformative applications, ranging from industrial 4.0 automation to digital education to autonomous vehicles to satellite communications and beyond. With the latest investment round, EdgeQ will be the first to address the fast growing, multi-billion dollar 5G infrastructure TAM with a single chip that converges connectivity and compute at the edge.
“EdgeQ is built on strong fundamentals that appeals to investors, technologists and customers. Particularly in the 5G wireless space, EdgeQ possesses the rare blend of ability and aptitude to execute on a compelling vision that will profoundly reshape how the industry conceives and consumes 5G,” said Anderson. “This is a really exciting time to join as an independent board member and help EdgeQ through the next phase of growth and market successes.”