Phaistos Investment Fund invests in Movandi, a company developing advanced-technology 5G solutions
5G Ventures announces that the Phaistos Investment Fund has participated in the new round of funding for Movandi, a California-based company, from international investors.
Movandi was founded by executives with years of experience in the integrated circuit industry and tenure at major industry players such as Broadcom, Cisco, Qualcomm, and Samsung. The company’s CEO, Maryam Rofougaran was included in Inc.’s Female Founders 200 list, which highlights the women who are creating the companies of tomorrow.
The company has designed & developed microprocessors, software, and systems in the mmW range that ideally complement the classic macro-structure of wireless coverage and achieve approximately 50% reduction in infrastructure development and operation costs by using beam steering/beamforming and AI techniques.
Repeaters and outdoor/indoor units with Movandi’s innovative technology are used to improve coverage and available bandwidth in outdoor and indoor areas with a large number of users (such as office buildings, sports facilities and shopping malls), in industrial facilities with 5G private networks in operation, and in public places to provide high-quality services. The company’s solutions also cover the promising area of gigabit Fixed Wireless Access (FWA) with remarkable performance.
In tests conducted in real-world conditions and on the road on Verizon’s network, a maximum speed of 2.7 Gbps was measured over Movandi’s repeaters.
Movandi has partnerships with major companies such as Qualcomm, AMD and Intel, and its solutions are used by providers such as Telstra, SK Telecom and Rakuten to deploy networks.
As part of the agreement for Phaistos’ participation in the new round of funding, Movandi has established the “Movandi Greece” subsidiary to transfer know-how and develop research & development activities in Greece.