13 March 2017
Guerrilla RF completes $2.8m Series D funding round
Guerrilla RF Inc of Greensboro, NC, USA, a provider of radio frequency (RF) and monolithic microwave integrated circuits (MMICs) for wireless applications, has closed a Series D funding round worth $2.8m (composed of a combination of equity and debt) with participation from multiple angel investors. The firm has now raised $7.8m in funding and has more than 30 products shipping in production volumes.
Guerrilla RF expects to employ 20 total associates by year-end. To accommodate this projected growth, the firm will be expanding its current facility.
“Coming out of an exciting year, we see even larger opportunities ahead of us,” says CEO Ryan Pratt (who founded the firm in April 2013). “We need to expand our facilities and team to capitalize on the amount of additional business that we have in front of us,” he adds. “This Series D funding round will give us the capital to do exactly that, as well as fueling our working capital needs and new product development pipeline.”
According to Research and Markets, the overall wireless network infrastructure market will rise at a compound annual growth rate (CAGR) of over 5% to more than $104bn in annual spending by the end of 2020.