You see this one?
redherring.com
DEAL OF THE DAY: MESHNETWORKS, $26M
There's a gold mine in the Department of Defense," says CEO Masood Garahi. He should know. His company, Meshnetworks (http://www.meshnetworks.com), has licensed the same futuristic wireless transmission technology designed for the DOD by ITT Industries. It was originally developed to enable U.S. soldiers to beam out data, voice, video, and precision location information from wireless devices in battlefield conditions without the need for preexisting infrastructure.
But Mr. Garahi isn't interested in 21st century battlefields and wired soldiers. Meshnetworks has inked an exclusive licensing agreement with ITT to develop commercial applications for the technology, which it will sell to wireless equipment vendors and device makers, such as Sony, Nokia, and Motorola.
Its potential is revolutionary. Using a combination of software routing algorithms and RF chipsets, Meshnetworks' technology enables wireless devices to work as a peer-to-peer network, fanning out like a giant spider web, using the devices rather than radio towers to transmit signals. Each handset is capable of transmitting at data rates from 6 Mbps to 18 Mbps. And because it doesn't require traditional networks, Mr. Garahi reckons it's perfect for developing nations. It will also enable established wireless carriers to deploy the technological equivalent of a 3G (third generation) network at one-tenth the cost.
The software will be available at the beginning of next year, with the chipset to follow by year's end. If it works for consumer applications, Mr. Garahi will no doubt have struck a rich vein.
INVESTORS: Redwood Ventures (lead); ITT Industries; BancBoston Ventures; Patricof & Co. Ventures; 3Com Ventures |
