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1. TRACXN TOP BUSINESS MODELS REPORT
February 09, 2022
TELECOM

2. Telecom - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
Telecom Funding - Overview 3
Top Funded Business Models 4
One pagers 7
Appendix 29
2

3. Telecom - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Funding in last 1 year
3
OSS & BSS $742M
Telecom Infrastructure Tech $550M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Inventus Capital Partners
Qualcomm Ventures
Nauta Capital
1
1
1
Early
Stage
The Firmament Group
Seraphim Capital
Orbital Ventures
2
2
2
Late
Stage
Fidelity Investments
Insight Partners
Morgan Stanley
1
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (90%)
United Kingdom (3%)
Singapore (2%)
Israel (1%)
France (1%)
Finland (1%)
Spain (1%)
Others (1%)
$ Funding # Rounds
Plume
(2015, United States)
$300M - Series F
Plume
(2015, United States)
$270M - Series E
Versa Networks
(2012, United States)
$84.0M - Series D
Qwilt
(2010, United States)
$70.0M - Series E
Pivotal Commware
(2016, United States)
$50.6M - Series C
Tarana
(2009, United States)
$50.0M - Series C
Matrixx
(2008, United States)
$50.0M - Series D
Gluware
(2007, United States)
$43.0M - Series B
Isotropic Systems
(2013, United Kingdom)
$37.0M - Series B
Ubicquia
(2014, United States)
$31.3M - Series C
AiDash
(2019, United States)
$27.0M - Series B
Blues Wireless
(2018, United States)
$22.1M - Series A

4. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Top Funded Business Models - last 1 year (1/3)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲2 Smart Wi-Fi Management Solutions $570M 2 Plume | $300M | Series F Link
2▲3 SD-WAN $84.0M 1 Versa Networks | $84.0M | Series D Link
3▲14 Mobile Edge Computing $70.0M 2 Qwilt | $70.0M | Series E Link
4▲6 Telecom Network Orchestration $64.8M 3 Gluware | $43.0M | Series B Link
5▲4 5G Antenna Systems $50.6M 1 Pivotal Comm.. | $50.6M | Series C Link
6▲10 Business Support System $50.3M 4 Matrixx | $50.0M | Series D Link
7▼3 Wireless Backhaul Equipment $50.0M 1 Tarana | $50.0M | Series C Link
8▲16 Telecom Network Function Virtualization $37.5M 4 Astar | $22.0M | Series B Link
9▼8 Satellite Communication Antenna Systems $37.0M 3 Isotropic Sy.. | $37.0M | Series B Link
10-- Unified Communication Software $32.2M 3 Alianza | $16.0M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Top Funded Business Models - last 1 year (2/3)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▼3 Light Fidelity Equipment $31.3M 1 Ubicquia | $31.3M | Series C Link
12▲7 Telecom Network Asset Management $27.0M 1 AiDash | $27.0M | Series B Link
13▼1 Spectrum Efficiency Solutions $20.0M 1 GenXComm | $20.0M | Series B Link
14<> 0 SDN Controller $20.0M 1 Pluribus Net.. | $20.0M | Series D Link
15-- SDN Operating System $20.0M 1 Pica8 | $20.0M | Series C Link
16▼14 OSS and BSS Solutions $17.8M 4 Plume | $300M | Series F Link
17-- Removable SIM $12.8M 1 IDEMIA | $12.8M | Series A Link
18▼12 Optical Network Equipment $12.2M 2 viaPhoton | $6.2M | Series A Link
19▼6 Cloud RAN $8.2M 1 Accelleran | $8.2M | Series B Link
20-- Subscriber Data Analytics $7.9M 2 FonYou | $7.9M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Top Funded Business Models - last 1 year (3/3)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Soft SIM $3.7M 2 Onomondo | $3.6M | Seed Link
22-- Telecom Network Analytics $1.0M 1 Net AI | $1.0M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Plume (2015, United States)
$300M - Series F - Oct 2021
Plume (2015, United States)
$270M - Series E - Feb 2021
Smart Wi-Fi Management Solutions
01
7
Back to index
OSS & BSS (Sandvine)
(# Cos: 1024 | $6.8B)
Suite (Plume)
(# Cos: 270 | $3.2B)
Wi-Fi Management (eero)
(# Cos: 26 | $991M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$570M(▲632%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$991M
11
-
26
2
eero
(2014, United States, $90.0M)
Plume
(2015, United States, $697M)
Fon
(2006, Spain, $71.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

8. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
SD-WAN
02
8
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$84.0M(▲61.5%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$999M
15
1
49
4
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Software Defined Networking (SDN)
(Arista)
(# Cos: 141 | $2.5B)
SD-WAN (Versa Networks)
(# Cos: 49 | $999M)
Versa Networks
(2012, United States, $196M)
Silver Peak
(2004, United States, $251M)
Cradlepoint
(2004, United States, $155M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Versa Networks (2012, United States)
$84.0M - Series D - Jun 2021

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Mobile Edge Computing
03
9
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$70.0M(▲900%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$373M
14
-
17
4
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Radio Access Network (RAN) (Altiostar)
(# Cos: 291 | $3.3B)
Software (Cellwize)
(# Cos: 74 | $1.1B)
Mobile Edge Computing (MEC)
(Qwilt)
(# Cos: 17 | $373M)
Qwilt
(2010, United States, $135M)
Vasona Networks
(2010, Israel, $36.4M)
Vapor
(2015, United States, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Qwilt (2010, United States)
$70.0M - Series E - Sep 2021
Ori (2018, United Kingdom)
Undisclosed - Seed - Apr 2021

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Gluware (2007, United States)
$43.0M - Series B - Oct 2021
Itential (2014, United States)
$20.0M - Series B - Apr 2021
Kenmei (2018, Spain)
$1.8M - Series A - Mar 2021
Telecom Network Orchestration
04
10
Back to index
OSS & BSS (eero)
(# Cos: 1024 | $6.8B)
Operation Support System (OSS) (Sandvine)
(# Cos: 442 | $2.2B)
Network Orchestration (Blue Planet)
(# Cos: 33 | $311M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$64.8M(▲140%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$311M
16
1
33
4
Blue Planet
(2000, United States, $97.6M)
Cenx
(2009, United States, $27.0M)
Apstra
(2015, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
5G Antenna Systems
05
11
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$50.6M(▲70.9%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$251M
16
2
22
3
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Radio Access Network (RAN) (Cellwize)
(# Cos: 291 | $3.3B)
Equipment (Altiostar)
(# Cos: 217 | $2.3B)
Antenna (SkyCross)
(# Cos: 131 | $913M)
5G (Movandi)
(# Cos: 22 | $251M)
Movandi
(2016, United States, $69.1M)
Metawave
(2017, United States, $17.0M)
Pivotal Commware
(2016, United States, $123M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pivotal Commw.. (2016, United States)
$50.6M - Series C - Feb 2021

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Business Support System
06
12
Back to index
OSS & BSS (Sandvine)
(# Cos: 1024 | $6.8B)
Business Support System (BSS) (OpenSignal)
(# Cos: 311 | $1.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$50.3M(▲508%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
78
$1.4B
126
14
311
17
OpenSignal
(2010, United States, $14.4M)
Matrixx
(2008, United States, $119M)
CSG International
(1994, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Matrixx (2008, United States)
$50.0M - Series D - Oct 2021
FonYou (2009, Spain)
$7.9M - Series A - Dec 2021
BluLogix (2002, United States)
$300K - Seed - Jan 2022
OpenVault (2010, United States)
Undisclosed - Series A - Oct 2021

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Wireless Backhaul Equipment
07
13
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$50.0M(▼7.7%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
25
$1.6B
83
14
140
4
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Transport Network (Tejas Networks )
(# Cos: 340 | $4.9B)
Equipment (UTStar)
(# Cos: 296 | $4.5B)
Wireless (Cambium Networks)
(# Cos: 140 | $1.6B)
Cambium Networks
(2011, United States, $15.0M)
Cel-Fi
(2006, United States, $23.0M)
Siklu
(2008, Israel, $49.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tarana (2009, United States)
$50.0M - Series C - May 2021

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Astar (2021, Singapore)
$22.0M - Series B - Jan 2022
Expeto (2015, United States)
$10.0M - Series A - Apr 2021
Aarna Networks (2017, United States)
$3.5M - Seed - Dec 2021
ZeroTier (2011, United States)
$2.0M - Seed - Feb 2021
Telecom Network Function Virtualization
08
14
Back to index
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Network Function Virtualization (NFV)
(Array Networks)
(# Cos: 45 | $611M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$37.5M(▲2579%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$611M
29
2
45
4
Array Networks
(2000, United States, $38.6M)
Citrix
(1989, United States)
Affirmed Networks
(2010, United States, $155M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Satellite Communication Antenna
Systems
09
15
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$37.0M(▼90.1%)
3(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$699M
11
2
24
2
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Equipment (Ciena)
(# Cos: 490 | $8.6B)
Satellite Communication (SATCOM)
(Isotropic Systems)
(# Cos: 68 | $866M)
Antenna (Kymeta)
(# Cos: 24 | $699M)
Kymeta
(2012, United States, $548M)
Isotropic Systems
(2013, United Kingdom, $112M)
Magnolia Broadband
(2000, United States, $38.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Isotropic Sy.. (2013, United Kingdom)
$37.0M - Series B - Sep 2021
Isotropic Sy.. (2013, United Kingdom)
Undisclosed - Series B - Jul 2021
Helix Techno.. (2016, United Kingdom)
Undisclosed - Seed - Apr 2021

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Unified Communication Software
10
16
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$32.2M( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
51
$1.4B
83
9
180
4
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Ciena)
(# Cos: 902 | $13.4B)
Software (Ribbon)
(# Cos: 226 | $1.8B)
Unified Communication (Avaya)
(# Cos: 180 | $1.4B)
Avaya
(2000, United States, $401M)
Ribbon
(1997, United States, $18.0M)
Metaswitch
(1981, United Kingdom, $19.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Alianza (2009, United States)
$16.0M - Series D - Mar 2021
VOSS (2003, United States)
$15.0M - Series D - Sep 2021
Spaceit (2015, Estonia)
$1.2M - Seed - Aug 2021

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Light Fidelity Equipment
11
17
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$31.3M(▲4.5%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$142M
7
1
18
2
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Equipment (Ciena)
(# Cos: 490 | $8.6B)
Optical Wireless (fSONA)
(# Cos: 27 | $651M)
Light Fidelity (Li-Fi) (Lucibel)
(# Cos: 18 | $142M)
Lucibel
(2008, France, $36.8M)
Ubicquia
(2014, United States, $61.3M)
PureLiFi
(2012, United Kingdom, $44.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ubicquia (2014, United States)
$31.3M - Series C - Jan 2022

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
AiDash (2019, United States)
$27.0M - Series B - Oct 2021
Telecom Network Asset Management
12
18
Back to index
OSS & BSS (eero)
(# Cos: 1024 | $6.8B)
Operation Support System (OSS) (Sandvine)
(# Cos: 442 | $2.2B)
Asset Management (AiDash)
(# Cos: 30 | $56.5M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$27.0M(▲350%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$56.5M
12
-
30
0
AiDash
(2019, United States, $33.0M)
Azeti Networks
(2006, Germany, $21.0M)
Ihiji
(2009, United States, $2.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Spectrum Efficiency Solutions
13
19
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$20.0M(▼13.8%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$511M
27
2
31
7
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Radio Access Network (RAN) (Altiostar)
(# Cos: 291 | $3.3B)
Software (Cellwize)
(# Cos: 74 | $1.1B)
Spectrum Efficiency (Flash
Networks)
(# Cos: 31 | $511M)
Flash Networks
(1996, United States, $30.5M)
Federated Wireless
(2013, United States, $134M)
Kumu Networks
(2011, United States, $45.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
GenXComm (2016, United States)
$20.0M - Series B - Sep 2021

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
SDN Controller
14
20
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$20.0M( <> 0% )
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$437M
11
-
15
1
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Software Defined Networking (SDN)
(Versa Networks)
(# Cos: 141 | $2.5B)
Controller (Big Switch Networks)
(# Cos: 15 | $437M)
Big Switch Networks
(2010, United States, $126M)
Pluribus Networks
(2010, United States, $145M)
128 Technology
(2014, United States, $113M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pluribus Netw.. (2010, United States)
$20.0M - Series D - Oct 2021

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
SDN Operating System
15
21
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$20.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$208M
6
-
7
1
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Software Defined Networking (SDN)
(Versa Networks)
(# Cos: 141 | $2.5B)
OS (IP Infusion)
(# Cos: 7 | $208M)
IP Infusion
(1999, United States, $20.4M)
Cumulus Networks
(2009, United States, $134M)
6WIND
(2000, France, $9.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pica8 (2009, United States)
$20.0M - Series C - Apr 2021

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
OSS and BSS Solutions
16
22
Back to index
OSS & BSS (Sandvine)
(# Cos: 1024 | $6.8B)
Suite (eero)
(# Cos: 270 | $3.2B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$17.8M(▼91.2%)
4(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
62
$3.2B
100
15
270
10
eero
(2014, United States, $90.0M)
Plume
(2015, United States, $697M)
Fon
(2006, Spain, $71.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Plume (2015, United States)
$300M - Series F - Oct 2021
Plume (2015, United States)
$270M - Series E - Feb 2021
Connected2Fiber (2015, United States)
$12.0M - Series B - Mar 2021
Aervivo (2020, United States)
$5.8M - Seed - Mar 2021

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
IDEMIA (2007, France)
$12.8M - Series A - May 2021
Removable SIM
17
23
Back to index
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
SIM Providers (IDEMIA)
(# Cos: 50 | $276M)
Removable SIM (Gemalto)
(# Cos: 20 | $19.8M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$12.8M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$19.8M
10
4
20
1
Gemalto
(2006, Netherlands)
IDEMIA
(2007, France, $12.8M)
Workz
(1997, United Arab Emi..)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Optical Network Equipment
18
24
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$12.2M(▼69.5%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
47
$3.5B
85
23
139
2
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 902 | $13.4B)
Equipment (Tellabs)
(# Cos: 490 | $8.6B)
Optical Technology (Ciena)
(# Cos: 139 | $3.5B)
Ciena
(1992, United States)
Tellabs
(1978, United States)
Infinera
(2000, United States, $271M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
viaPhoton (2020, United States)
$6.2M - Series A - Apr 2021
viaPhoton (2020, United States)
$6.0M - Series A - Feb 2021

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Cloud RAN
19
25
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$8.2M(▼62.5%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$582M
9
-
11
4
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Radio Access Network (RAN) (Cellwize)
(# Cos: 291 | $3.3B)
Equipment (Parallel Wireless)
(# Cos: 217 | $2.3B)
Cloud RAN (C-RAN) (Altiostar)
(# Cos: 11 | $582M)
Altiostar
(2011, United States, $317M)
Parallel Wireless
(2012, United States, $20.0M)
SpiderCloud
(2007, United States, $136M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Accelleran (2013, Belgium)
$8.2M - Series B - May 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
FonYou (2009, Spain)
$7.9M - Series A - Dec 2021
OpenVault (2010, United States)
Undisclosed - Series A - Oct 2021
Subscriber Data Analytics
20
26
Back to index
OSS & BSS (Sandvine)
(# Cos: 1024 | $6.8B)
Business Support System (BSS) (OpenSignal)
(# Cos: 311 | $1.4B)
Subscriber & Revenue Analytics
(DigitalRoute)
(# Cos: 70 | $341M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$7.9M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
27
$341M
42
3
70
8
DigitalRoute
(2000, Sweden, $10.6M)
Neuralitic Systems
(2007, Canada, $20.0M)
Carrier iQ
(2005, United States, $55.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Onomondo (2012, Denmark)
$3.6M - Seed - Jul 2021
Celitech (2017, United States)
$25.0K - Seed - Aug 2021
Soft SIM
21
27
Back to index
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
SIM Providers (Gemalto)
(# Cos: 50 | $276M)
Soft SIM (uCloudlink)
(# Cos: 20 | $230M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$3.7M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$230M
13
1
20
2
uCloudlink
(2009, China, $142M)
Onomondo
(2012, Denmark, $8.4M)
Skyroam
(2008, United States, $63.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Net AI (2020, United Kingdom)
$1.0M - Seed - Nov 2021
Telecom Network Analytics
22
28
Back to index
OSS & BSS (eero)
(# Cos: 1024 | $6.8B)
Operation Support System (OSS) (Sandvine)
(# Cos: 442 | $2.2B)
Network Analytics (Guavus)
(# Cos: 41 | $331M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$331M
20
-
41
2
Guavus
(2006, United States, $158M)
Argyle Data
(2007, United States, $19.7M)
RootMetrics
(2008, United Kingdom, $5.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

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Telecom - Top Business Models Report
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