Business Wire:Metanoia Announces the Closing of a $19.3M New Round of Funding and Its Entry Into the 5G Market

2:3:2020  | Business Wire

Metanoia Communications Inc. (Metanoia), a leading manufacturer of standalone high-speed xDSL and Gfast PHY chipsets for the wireline broadband market, is excited to announce that it has successfully completed its most significant fundraising in the history of the company from a stellar consortium of domestic investors led by Taiwania Capital Investment and National Development Fund. Elan Microelectronics, the original primary investor in Metanoia, is also participating in this new round of investment.

 

“Introduction of new and innovative products is a key area of focus in Metanoia’s strategy and this new round of investment will enable Metanoia to develop and release 5G chips for Remote Radio Units (RRU), Small Cells and CPEs in near future,” said Chien-Te Wu, Metanoia President & CEO. “The company will further capitalize on and broaden its established position as a recognized leader in the Broadband Wireline markets, where our employees are striving to enhance the overall customer experience, while deepening relationships with existing and new customers.”

 

Taiwania Capital CEO David Weng added: “Taiwania Capital Investment is very excited about investing in Metanoia as it embarks on a new journey with its strategic decision to diversify into the 5G market with the introduction of exciting new products with significant potential and market prospects.”

 

Read More: