A few weeks back, I posted a little snippet Wi-Fi bubble’s leaking air? pointing out the overfunding in the Wi-Fi space. Oh well, it seems like no one is paying any attention.
Glenn Fleishman writes today thatWi-Fi Still Attracting Cash, and points to Legra Systems, which has raised $12 million in its series B round of funding. All told, Legra has attracted $20.5 million in investments. He also tips the hat to BelAir Networks for rasing $15 million in a series B round, bringing its total investment to $22 million.
PanGo Networks, a developer of a software platform for location-based services over wireless LANs, is expected to announce that it has raised $4.4 million in Series A funding led by IDG Ventures and Columbia Capita, according to Venture Wire. The venture new wire reports that Bermai, a developer and designer of chipsets for Wi-Fi applications, is planning to raise $20 million in Series C funding.
Why this madness when Cisco, Extreme, Nortel and Foundry and even smaller players such as SonicWall are including Wi-Fi in their product offerings? Perhaps venture capitalists believe that one of these many start-ups could become strong enough to take a piece of the fast growing enterprise market. I don’t buy that, but then its not my money!