Toronto, Canada -- DragonWave, a leading supplier of high-performance, next-generation, intelligent
millimetre wave radios, secured US$2.25 million in venture debt financing from
the GATX/MM Venture Finance Partnership.
DragonWave's industry-leading team has developed a breakthrough technology platform
that enables cost-effective mass production of sophisticated radio equipment for
wireless broadband communications. The platform's flexibility allows DragonWave
to provide solutions for the global cellular interconnect, metro extension, and
broadband wireless marketplaces.
"The quality of DragonWave's team and the compelling value proposition of their
technology have positioned them to become a leading millimetre wave radio provider,"
said Ron Patterson, Partner of MM Venture Partners. "We have a great deal of confidence
in DragonWave's unique platform to provide the most cost effective solutions and
effectively meet the needs of global communications equipment suppliers."
"This financing provides more working capital for DragonWave to quickly ramp our
operations as we move from prototypes to customer-ready systems," said Jim Arseneault,
President and CEO of DragonWave. "We are very pleased to have the GATX/MM Venture
Finance Partnership on board. Their extensive technology expertise and strong
credibility provides further validation for DragonWave."
About DragonWave Inc.
DragonWave Inc. is a premier supplier of high-performance, next-generation, intelligent
millimetre wave radios. Our world-class staff of industry experts tackles radio
development for the fixed broadband wireless access market. DragonWave's product
family provides managed high-speed radio building blocks enabling gigabits per
second through the air. DragonWave is headquartered in Ottawa, Canada's high technology
capital. For further information please visit
www.dragonwaveinc.com.
About GATX/MM Venture Finance Partnership
The GATX/MM Venture Finance Partnership is a privately held, venture-debt fund
that focuses exclusively on private technology companies in Canada. The Partnership
focuses specifically on Canadian information technology and biotechnology companies.
The partnership comprises MM Venture Partners, founded in 1998 in Toronto and
GATX Venture Finance. San Francisco based GATX Venture Finance is a unit of GATX
Financial Corporation, a wholly owned subsidiary of GATX Corporation (NYSE: GMT).
For further information please visit
www.mmvp.com
and
www.gatx.com.
For Further Information Contact:
DragonWave Inc.
Ron Blair, Chief Financial Officer
Tel: 613-599-9991
rblair@dragonwaveinc.com
MM Venture Partners
Ron Patterson, Partner
416-977-9718
rpatterson@mmvp.com