GenXComm Secures $7 Million Series A Investment Round Led by Intel Capital

AUSTIN, Texas, Dec. 12, 2017 (GLOBE NEWSWIRE) — GenXComm, an Austin-based company commercializing ground-breaking technology to improve the performance and capacity of communications networks, today announced the initial closing of a $7 million Series A investment round. The funding was led by Intel Capital, with participation from existing and new investors Azure Capital Partners, Bandgap Ventures, Capital Factory, FAM Capital Partners, Lip-Bu Tan, UT Horizon Fund and WS Investment Co. The Series A round, which could have additional investors join in a secondary closing, will be used to expand the company’s R&D team focused on robust simultaneous self-interference cancellation technology, which enables full-duplex links for Cable (DOCSIS), Wi-Fi, 5G and the Internet of Things.

GenXComm’s patented and robust simultaneous self-interference cancellation (S-SIX) technology will unleash the full potential of the spectrum used for today’s cable and Wi-Fi networks and next generation 5G cellular. By using S-SIX, communication systems can reduce or eliminate the inherent interference which prevents a simultaneous high-powered transmission and a low-level reception to co-exist on a single frequency or channel at the same time. The benefits of this patented technology include doubling the effectiveness of the available and very limited spectrum by enabling talk while listen, and increasing network performance up to 30X for dense environments – all the while maintaining full backwards compatibility with the operating infrastructure. S-SIX technology operates under harsh real-world conditions, allowing its use in any network scenario.

The Series A financing builds on an exceptional year for GenXComm that included the formation of the company from a four-year long research project at the University of Texas to the public demonstration of the technology enabling full-duplex, high speed communication in both cable and wireless applications.

“The explosion of smartphone usage and internet bandwidth is pushing the limits on today’s network architecture and available spectrum,” said Sriram Vishwanath, co-founder and CEO of GenXComm. Co-founder and inventor, Hardik Jain, added, “GenXComm is unleashing the full potential of the spectrum used for today’s 5G mobile, Wi-Fi and cable networks – by allowing channels to be stacked with no empty spectrum between them, thereby generating new applications, revenue streams and business models for telecom operators and the Industry 4.0.”

“Full duplex technology has the potential to have a tremendous impact in a number of areas that are important to Intel, including Wi-Fi, Broadband Access, and 5G,” said Dan Artusi, vice president and general manager, Connected Home Division, Intel. “GenXComm’s unique approach to solving the full duplex problem has the potential to significantly increase the speed and capacity of these networks. Given the large increases in the amount of data moving across different networks, technologies such as those pioneered by GenXComm will become increasingly important in the future.”

About GenXComm
Founded in 2016, GenXComm Inc. is commercializing the world’s first true full-duplex radio that operates reliably even under the toughest real-world conditions. GenXComm’s technology emerged from four years of multi-disciplinary research and development efforts at The University of Texas at Austin. The Company’s frequency agnostic solution doubles the usability of world’s available spectrum. GenXComm is changing the way we connect, live, work and play by unleashing the full potential of world’s available spectrum.

About Intel Capital
Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.2 billion in 1,500 companies worldwide, and more than 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture firms, visit www.intelcapital.com or follow @Intelcapital.

Sriram Vishwanath
GenXComm
Co-founder and President
sriram@genxcomm.com