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Finnish PE/VC News

27.10.2016

KNL Networks closes major series A-round of $10M+

October 27, 2016 – Oulu, Finland – KNL Networks, a pioneer in “Internet Anywhere” technology that can even be used anywhere in the world, today announced it has closed a combined total of $10M+ in a major Series A round of funding. Representing one of the largest Nordic Series A rounds, KNL has been in stealth mode for the past four years developing a new wireless communications system able to provide IP communication even to the most extreme and isolated locations on Earth.

KNL’s patented communication system relies on shortwave radio transmissions, allowing data to be transmitted over thousands of kilometers. By combining the very latest cognitive software radio technologies with a completely reinvented HF-radio system, KNL is uniquely capable of providing IP-based communications over traditional radio waves.

KNL Networks is the only alternative to satellite communications and is currently in-use on ocean fleets traversing both the Atlantic and Pacific Oceans. Compared to satellite communication, the advantage of KNL is that it has no expensive satellites to maintain or operate. The technology offers broader network coverage enabled by long-range high frequency channels operating at a fraction of the cost of satellite networks. KNL provides extremely secure and reliable communication that is globally available, easier to use than satellite and always-on.

By enabling Internet Anywhere, a wide range of use-cases for the technology includes live streaming of sensor data, enabling mission-critical online systems, autonomous vessels, IoT connectivity and more. KNL Networks communication solutions are ideal for situations where failure is simply not acceptable: whether a natural disaster, a peacekeeping mission or business-critical communication, KNL enables always-on IP connectivity when it is most needed.

The lead investor in the Series A was Creandum, with co-investors Inventure and Butterfly Ventures (both participants in the 2014 2M euro seed round lead).

Leading Angel investors who also participated include Juha Hulkko, Founder and major owner of Bittium (formerly Elektrobit); the Tamares Group led by Poju Zabludowicz  and John Lindfors, Partner of DST Global.

“KNL has been extremely fortunate to have attracted continued interest from our Seed-level investors as well as visionary VCs and angels who have seen the tremendous capabilities offered by our technology. Like Facebook and Google, we see “Internet Anywhere” as a means to an end, and we believe our technology is ideally suited to making that happen in a wide range of industries, applications and geographies worldwide,” said Toni Linden, CEO of KNL.

KNL Networks is based in Oulu, Finland, one of the world’s great innovation centers for next-generation telecommunications research and design. Additional offices are located in Helsinki, the UK and Norway.

For further U.S. information, please contact Jonathan Hirshon for KNL at jh@horizonpr.com or Toni Linden, CEO for KNL at toni.linden@knlnetworks.com




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