17th June, 2016 Mumbai – QuadGen Networks Pvt. Ltd, a next generation Wireless Solutions company based out of Bangalore, India, announced today that it has raised an undisclosed amount, as part of its Series A round of financing. IndusAge Partners, an early stage global Venture Capital firm based in of Silicon Valley and India, led this round of financing. Trinity Mobility, a Bangalore based Wireless Services Company also participated in this financing
QuadGen Wireless Solutions Pvt. Ltd, a subsidiary of Quadgen Networks Pvt Ltd, builds and operates WiFi networks in India and other geographies as an overlay operator, in conjunction with major carriers. In India, leading national operator BSNL has selected QuadGen Wireless Solutions Pvt. Ltd, to Build, Operate and Own a telco grade WiFi Network on an exclusive basis in the South and West Zones of India comprising 9 states (Andhra Pradesh, Karnataka, Kerala, Telangana, Tamilnadu, Maharashtra, Gujarat, Madhya Pradesh and Chattisgarh) covering well over 600 M people.Working closely with BSNL, QuadGen plans to bring cutting edge wireless technologies such as 5G Wi-Fi to both rural and urban environments with unparalleled speed, cost and reliability advantages. BSNL and QuadGen have entered into an economic arrangement to maximize the utilization of BSNL’s extensive fiber based back haul infrastructure.
Commenting on IndusAge’s investment, Mr. C.S Rao, Chairman and Co-Founder of QuadGen said, “Broadband Connectivity is a critical ingredient for the realization of the Digital India Vision. QuadGen is committed to expanding its network and enabling high speed connectivity through its carrier grade WiFi offering to Government Offices, Courts, Educational institutions, Banks, Rural and Public spaces and thus pave the way for next generation Digital infrastructure. We are excited to bring industry leaders to support us in this ambitious endeavor”
Remarking on this announcement, Sriram Viswanathan, Founder and Managing Partner of IndusAge Partners said, “Ubiquitious mobile broadband access is essential to boost India’s digital economy aspirations.Quadgen alongwith its industry partners bring a world class capability to achieve this In conjunction with this investment, eminent scientist and prestigious Marconi Prize & Graham Bell Awardwinner, Emeritus Professor of Stanford University, Prof. Arogyaswami Paulraj will join the company’s board as an Independent Director.“It is a great honor to have an eminent and highly respected global visionary such as Prof. Paulraj associated with us. We are delighted to have his guidance as we build QuadGen into a leader in wireless technology solutions and services”, said Mallik Vagvala, CEO of QuadGen USA. “Increasing broadband access to all of India’s vast population is vital to our economic growth. WiFi is a very attractive broadband technology for India from low its cost per bit delivered, inexpensive smart phone platform and high speed connections. QuadGen plans for rolling out WiFi access using BSNL’s fiber backbone shows great promise for delivering affordable broadband to India. “ said Prof. Arogyaswami Paulraj