Mavenir today announced the closing of a $100 million capital raise, following its $250 million fundraise in 2022. To date, the company has raised about $955 million.
The funding round announced today was anchored by the private equity firm Siris, which is Mavenir’s largest equity holder, along with investment from two un-named strategic ecosystem partners.
The new monies will support Mavenir’s strategy to provide telcos with cloud-native applications that include IMS, converged packet core and open RAN.
Pardeep Kohli, president and CEO of Mavenir, said, “We are growing a lot in the packet core and radio space and also our existing business in IMS.”
Kohli mentioned that Mavenir has recently been chosen by both Deutsche Telekom for its 5G standalone core and Virgin Media O2 for open RAN.
He said, “Those markets have specific requirements. If you look at radios, there’s 4G and 5G and also 2G and 3G from the past. In some markets you need all before you can replace any existing cell site. With DT and Virgin Media O2 we need more radios for those markets.”
Mavenir has a relationship with the Indian equipment maker Jabil to manufacture it OpenBeam radios. In addition to manufacturing facilities in India, Jabil also has factories in Florida, Mexico and other places.
Asked if Mavenir is working with any of the big three Indian carriers — Reliance Jio, Bharti Airtel or Vodafone Idea — Kohli indicated Mavenir does have activity in that regard, but it isn’t prepared to announce anything yet.
Other Mavenir news
Recently, the company said it was streamlining its communications team, dispersing it from its headquarters in Richardson, Texas.
“In this new open RAN and packet core, there’s a lot of regional requirements that change from country to country,” said Kohli. “We were more centralized. We’re now distributing the team and getting aligned with the local markets, local languages, local ecosystems, local rules and local licenses.”