LightSquared, Nokia Siemens Networks’ 4G LTE baby, just raised $265 million in another round of funding from new and existing investors for its coming 4G network. To date, LightSquare has raised $2.3 billion despite launch issues due to GPS interference. However, the company seems to have solved its GPS woes and seems to be confident in launching right on time.
According to LightSquared:
“This latest round of financing signals another endorsement by the financial markets of our business model, and LightSquared’s intent to use private capital to build out a new network to meet the growing demand across this entire nation for wireless broadband access,” said Sanjiv Ahuja, chairman and chief executive officer of LightSquared.
It looks like things are moving right along for the company, who will be providing 4G LTE infrastructure access wholesale to wireless network providers interested in offering LTE services to their customers.
For more details on the newly raised capital, see the announcement via the link below.