- Press Release
- April 7, 2023
Successful Closing of Series A Financing Round
Simnovus, an innovative software startup that helps 5G disruptors accelerate their products and services, today announced a $2M Series A fundraise. The round is led by Gray Ventures, with participation from the existing investor Dragon Capital which led its seed round, and several other industry veterans.
With this funding, Simnovus is poised to take the next step in its growth journey. The infusion of capital will enable the company to expand its engineering and customer success teams, providing the necessary resources to drive innovation and scale its technology to new heights. Additionally, Simnovus will accelerate its integration with strategic partners, resulting in a wider range of solutions for its growing customer base.
“We are building an ecosystem of software-based products that are disrupting traditional methods of validation of 3GPP standards set for 5G and future generations of cellular technology, “ said Saurav Jha, CEO of Simnovus. “This significant investment will fuel our drive for continuous innovation, enabling us to expedite the launch of our highly anticipated products and expand our business presence across North America and other regions. We will increase our research and development efforts, attract top talent to join our team, and establish strategic partnerships to strengthen our market position and capitalize on emerging opportunities.”
Simnovus has helped over 50 innovative companies worldwide reduce their 5G RAN validation time and costs. With the rapid acceleration of 5G and shift towards Open RAN, Simnovus is well-positioned to continue revolutionizing RAN validation with its cutting-edge technology and industry expertise, paving the way for a more efficient, cost-effective, and accelerated 5G deployment.
Simnovus is headquartered in RTP, North Carolina, also has R&D center in Bengaluru, India, which allows the company to leverage the strengths of both regions and stay at the forefront of innovation.