Wireless Communications Co.'s Collect Copious Capital
June 13, 2012
Row 44, a provider of inflight WiFi and device-based entertainment for commercial airlines, has nabbed a $45 million financing led by Advanced Inflight Alliance. Previous backer PAR Capital Management also participated. The capital infusion will support the company's global expansion plans.
Since the beginning of 2008, 217 VC investors have invested in companies primarily involved with the Communications and Networking sector, according to the PitchBook Platform. The Wireless Communications Equipment sub-sector has accounted for 31% of the deal activity, snagging an impressive $761.57 million in combined venture funding for 50 completed VC deals. Row 44's latest financing is the ninth and biggest Wireless Communications Equipment deal to close this year.
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