Guerrilla RF, a fabless semiconductor company developing high performance radio frequency (RF) and microwave integrated circuits (ICs) for wireless applications, has closed a new $2.8M Series D funding round. The $2.8M funding is composed of a combination of equity and debt with participation from multiple angel investors.
Coming out of an exciting year, they see even larger opportunities ahead. They feel the need to expand their facilities and team to capitalize additional business. Guerrilla RF plans to employ 20 total associates by year-end. They will be expanding their current facility, in order to accommodate this projected growth. This Series D funding round will give them the capital to fuel this growth, add to their working capital and develop new products.
According to Research and Markets, the overall wireless network infrastructure market will see tremendous growth over the coming years. Growing at a compound annual growth rate of over 5 percent, the market will account for over $104 billion in annual spending by the end of 2020.
