PHYTunes has closed its seed round of $1.5 million with investors Deutsche Telekom´s hub:raum, Draper University Ventures and led by Quake Capital, an early-stage venture capital firm. The funding will be used to accelerate product development for full 5G inside residential and commercial buildings. The round includes several private investors, including PHYTunes Chairman John Cioffi who participated in the round. The round opened in July 2021 and closed September 30, 2021.
5G loses significant signal strength going through physical barriers including glass, wood and concrete. In-building limitations to high-frequency signals could slow 5G adoption. PHYTunes utilizes existing wireline infrastructure to transport high-frequency wireless signals over existing telephone lines, fiber-optic cables, ethernet wires, and coaxial cables to seamlessly deliver 5G speeds without degradation or latency within the home, small business or enterprise. The converged edge solution supports the full power of cloud computing and the future of IoT, automation, and artificial intelligence applications.
Said Amy Coveny, managing partner at Quake Capital, "As a leading venture capital firm with a focus on early-stage companies and emerging markets, we recognize the high-growth potential of 5G and enabling technologies in industrial IoT, healthcare and artificial intelligence. But a critical barrier to scaling 5G to support next-generation applications is overcoming the limitations inside residential and commercial buildings. PHYTunes has assembled a strong management team and has the vision and strategy to become a leader in the 5G ecosystem.”