Founders: Maryam Rofougaran (CEO), Reza Rofougaran
Launched:Â 2016
Headquarters:Â Irvine, California
Funding:Â $67 million
Valuation:Â $108.8 million (PitchBook)
Key technologies:Â 5G
Industry:Â Telecom
Previous appearances on Disruptor 50 List: 0
While the futures of many industries have been thrown into question as a result of the coronavirus pandemic, the need for 5G is not one of them. An entire country working remotely has emphasized why faster and more robust broadband is needed, and Movandi's offerings are at the core of that. The Irvine, California-based company develops network technology designed to expand wireless communication and connectivity across the globe. It makes components for use with the millimeter wave system of extremely high frequency radio signals that is used in high-speed wireless broadband like 5G. 5G is short for the fifth generation of cellular wireless technology. It's designed to provide high-bandwidth connectivity that can be up to 100 times faster than 4G LTE connections.
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By offering 5G and other multigigabit networks, antenna technology and cost-effective systems, Movandi says it can ensure that 5Gmm wave technology can broadly be deployed in real-world scenarios, thus building the "interface of the internet." The business was started by co-founders and siblings Maryam and Reza Rofougaran.
In April, Movandi announced it had closed $27 million in new funding to accelerate 5G network deployments, bringing its total funding to around $67 million. Its investors include Cota Capital, Sierra Ventures and DNX Ventures. And in May, Movandi confirmed that it will be working with Verizon, providing the carrier with the extender technology it needs to expand 5G coverage in public spaces, homes and buildings. The extenders expand coverage and will let customers add more devices to the Verizon network.
