Friday, July 18, 2008

SOMA Networks Gets $51M

San Francisco-based SOMA Networks said Friday that it has raised $51M in additional equity financing, for the firm's mobile WiMax products and professional serviecs. The funding came from Daiwa Securities Group Inc.; Daiwa Securities SMBC Principal Investments Co. Ltd.; Ridgeway Capital Partners Ltd.; and India Knowledge Fund, a private equity fund of Japan-based SBI Holdings Inc. and SBICAPS. SOMA said the funding would go towards expansion of its WiMax network in India, including a rollout in Gujarat, Maharashtra and Goa, and Andhra Pradesh with Indian state-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL). More information »