StockMarketWire.com - Allied Minds said its portfolio company Federated Wireless had secured $51m in Series C financing.

Participants in the round included new investors SBA Communications and Pennant Investors, alongside existing investors GIC, Singapore's sovereign wealth fund, American Tower and Allied Minds.

The funds raised would enable Federated Wireless to 'accelerate the availability and adoption of shared spectrum CBRS services by wireless carriers, cable companies, utilities and enterprises seeking to augment existing and next-generation 5G wireless services and private LTE,' the company said.

Federated Wireless had a customer base of more than 25 companies spanning the telecommunications, energy, hospitality, education, retail, office space, municipal and residential verticals, with a wide range of use cases ranging from network densification and mobile offload to private LTE and industrial internet of things.




At 9:57am: [LON:ALM] Allied Minds PLC share price was -1.9p at 57.4p



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