EdgeQ Closes $75M Series-B Investment and Ramps to Customers’ Demand for Its Award-Winning 5G+AI Base Station-on-a-Chip for 5G Networks
Lattice Semiconductor CEO Jim Anderson Joins the Board of Directors as the Company Enters into Customer Deployments of Private 5G and Open RAN Networks
Santa Clara, California – April 19, 2023 – EdgeQ Inc, a leader in 5G wireless infrastructure, announced today 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 award-winning 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 5G Ventures, Strategic Development Fund of the United Arab Emirates Tawazun Council (SDF), Singapore-based global investor EDBI, TSMC, Irongrey, ST Engineering, Yaletown, ClearSky, and other existing investors.
EdgeQ’s revolutionary approach to wireless infrastructure unifies both 4G and 5G onto 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 (DU) 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 Jim Anderson, CEO and President of Lattice Semiconductor. “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.”
EdgeQ has developed the world’s first “Base station-on-a-Chip,” giving operators, cloud service providers and enterprises the revolutionary ability to build, configure, and deploy public and private networks that are simple, scalable, and affordable. The massively integrated 4G+5G+AI chip uniquely leverages both RISC-V and ARM architectures to compact at an unprecedented small scale an entire rack of complex and high-performance base station communications equipment into a tiny and power efficient envelop. The platform comes feature complete, including a production-grade Physical Layer (PHY) software that governs all the essential protocols and features of 4G/5G.
Recently awarded the coveted “CTO Choice Award” at Mobile World Congress Barcelona 2023, EdgeQ’s converged 4G+5G+AI platform enables operators and enterprises to deploy systems at scale, implement wholesale upgrades without ripping and replacing their current network configuration, and frees the market from vendor lock-in. The solution is available now. And customer deployments are expected this year.
To learn more about how EdgeQ is pioneering the 5G infrastructure market, please visit www.edgeq.io.
EdgeQ is a leading innovator in 5G systems-on-a-chip. The company is headquartered in Santa Clara, CA, with offices in San Diego, CA and Bangalore, India. Led by executives from Qualcomm, Intel, and Broadcom, EdgeQ is pioneering converged connectivity and AI that is fully software-customizable and programmable. The company is backed by world-renowned investors. To learn more about EdgeQ, visit www.edgeq.io.