Saguna Networks, a company which focuses on making mobile broadband faster, simpler and more economical, has announced that it has closed a financing round led by SoftBank Ventures Korea and Akamai Technologies, supported by Saguna’s existing investors. Although the terms of the deal were not disclosed, Globes reported that an amount of $3.2 million was secured by Saguna in the exercise. Saguna will use the funding to expand the company’s presence in North America, Asia and Europe as well as accelerate its product development initiatives.
Saguna helps mobile operators improve user experience, monetization and network economics by bringing internet content and applications into the Radio Access Network (RAN) as close as possible to mobile users. The Saguna CODS Mobile Edge Computing platform creates secure and direct fast-track connections between internet content providers and web applications to mobile users and promotes network-aware content optimization with real-time feedback.
Daniel Kang, COO of SBVK
We are delighted that Saguna Networks will be SoftBank Ventures Korea Corp's (SBVK) first investment in Israel. Driven by users' needs to feel constantly connected, mobile traffic is set to undergo explosive growth in the next 5 years with operators increasingly turning to technology to address bottlenecks. Saguna's -Open-RAN is a compelling solution enabling operators to meet their critical future needs. As part of the investment, SBVK's Venture Partner, Ben Weiss, will join Saguna's board as an Observer.
Said Lior Fite, CEO, Saguna Networks
At Saguna, we are proud that industry leaders like Akamai Technologies and SoftBank Ventures Korea Corp. have chosen to invest in our company and the continued support of our existing investors. This is a testament to the value presented by Saguna’s Mobile Edge Computing technology for improving the user experience, improving economics and monetizing mobile networks.
