Today's top #BusinessModel report is on Telecom rebrand.ly/60eacqp Get our free reports on geography of your interest to your mailbox regularly https://rb.gy/cx2upn

1. TRACXN TOP BUSINESS MODELS REPORT
March 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
Telecom Infrastructure Tech $533M
OSS & BSS $472M
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
Morgan Stanley
Sequoia Capital
New Enterprise Associates
1
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (88%)
United Kingdom (4%)
Singapore (2%)
Israel (1%)
France (1%)
Finland (1%)
Spain (1%)
Others (1%)
$ Funding # Rounds
Plume
(2015, United States)
$300M - Series F
Versa Networks
(2012, United States)
$84.0M - Series D
Qwilt
(2010, United States)
$70.0M - Series E
Federated Wireless
(2013, United States)
$58.0M - Series D
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
Astar
(2021, Singapore)
$22.0M - Series B

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▲1 Smart Wi-Fi Management Solutions $300M 1 Plume | $300M | Series F Link
2▲3 SD-WAN $84.0M 1 Versa Networks | $84.0M | Series D Link
3▲9 Spectrum Efficiency Solutions $78.0M 2 Federated Wi.. | $58.0M | Series D Link
4▲14 Mobile Edge Computing $70.0M 2 Qwilt | $70.0M | Series E Link
5▲5 Telecom Network Orchestration $64.8M 3 Gluware | $43.0M | Series B Link
6▲11 Business Support System $50.3M 4 Matrixx | $50.0M | Series D Link
7▲1 Wireless Backhaul Equipment $50.0M 1 Tarana | $50.0M | Series C Link
8▼7 Satellite Communication Antenna Systems $37.0M 3 Isotropic Sy.. | $37.0M | Series B Link
9▲13 Telecom Network Function Virtualization $35.5M 3 Astar | $22.0M | Series B Link
10▼1 Light Fidelity Equipment $31.3M 1 Ubicquia | $31.3M | Series C 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▲9 Telecom Network Asset Management $27.0M 1 AiDash | $27.0M | Series B Link
12▲2 SDN Controller $20.0M 1 Pluribus Net.. | $20.0M | Series D Link
13-- SDN Operating System $20.0M 1 Pica8 | $20.0M | Series C Link
14▼11 OSS and BSS Solutions $17.8M 3 Plume | $300M | Series F Link
15<> 0 Unified Communication Software $16.2M 2 VOSS | $15.0M | Series D Link
16-- Removable SIM $12.8M 1 IDEMIA | $12.8M | Series A Link
17▼4 Cloud RAN $8.2M 1 Accelleran | $8.2M | Series B Link
18-- Subscriber Data Analytics $7.9M 2 FonYou | $7.9M | Series A Link
19▼13 Optical Network Equipment $6.2M 1 viaPhoton | $6.2M | Series A Link
20-- Soft SIM $3.6M 1 Onomondo | $3.6M | Seed 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-- Telecom Network Analytics $1.0M 1 Net AI | $1.0M | Seed Link
22-- Free Space Optics Equipment $298K 1 OptiPulse | $298K | 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
Smart Wi-Fi Management Solutions
01
7
Back to index
OSS & BSS (Sandvine)
(# Cos: 1020 | $6.8B)
Suite (Fon)
(# 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
$300M (▲11.1%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$991M
11
-
26
2
eero
(2014, United States, $90.0M)
Fon
(2006, Spain, $71.7M)
Plume
(2015, United States, $697M)
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: 904 | $13.4B)
Software Defined Networking (SDN)
(Big Switch Networks)
(# Cos: 142 | $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
Spectrum Efficiency Solutions
03
9
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$78.0M (▲236%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$569M
27
2
31
7
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Radio Access Network (RAN) (Altiostar)
(# Cos: 290 | $3.4B)
Software (Qwilt)
(# Cos: 74 | $1.1B)
Spectrum Efficiency (Flash
Networks)
(# Cos: 31 | $569M)
Flash Networks
(1996, United States, $30.5M)
Federated Wireless
(2013, United States, $192M)
Mobixell Networks
(2000, Israel, $39.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Federated Wir.. (2013, United States)
$58.0M - Series D - Feb 2022
GenXComm (2016, United States)
$20.0M - Series B - Sep 2021

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Mobile Edge Computing
04
10
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: 290 | $3.4B)
Software (Flash Networks)
(# Cos: 74 | $1.1B)
Mobile Edge Computing (MEC)
(Qwilt)
(# Cos: 17 | $373M)
Qwilt
(2010, United States, $135M)
Vasona Networks
(2010, Israel, $36.4M)
Ori
(2018, United Kingdom, $2.0M)
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

11. 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
05
11
Back to index
OSS & BSS (eero)
(# Cos: 1020 | $6.8B)
Operation Support System (OSS) (Sandvine)
(# Cos: 440 | $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.

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: 1020 | $6.8B)
Business Support System (BSS) (OpenSignal)
(# Cos: 310 | $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
79
$1.4B
125
14
310
16
OpenSignal
(2010, United States, $14.4M)
CSG International
(1994, United States)
Matrixx
(2008, United States, $119M)
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 (▲65.8%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
25
$1.6B
83
14
140
5
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)
BridgeWave
(1999, United States, $42.7M)
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
Satellite Communication Antenna
Systems
08
14
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: 904 | $13.4B)
Equipment (Ciena)
(# Cos: 491 | $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

15. 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
Telecom Network Function
Virtualization
09
15
Back to index
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 904 | $13.4B)
Network Function Virtualization (NFV)
(Citrix)
(# Cos: 45 | $611M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$35.5M (▲944%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$611M
29
2
45
4
Citrix
(1989, United States)
Array Networks
(2000, United States, $38.6M)
Affirmed Networks
(2010, United States, $155M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Light Fidelity Equipment
10
16
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: 904 | $13.4B)
Equipment (Ciena)
(# Cos: 491 | $8.6B)
Optical Wireless (fSONA)
(# Cos: 28 | $653M)
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

17. 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
11
17
Back to index
OSS & BSS (eero)
(# Cos: 1020 | $6.8B)
Operation Support System (OSS) (Sandvine)
(# Cos: 440 | $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
1
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.

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
SDN Controller
12
18
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: 904 | $13.4B)
Software Defined Networking (SDN)
(Versa Networks)
(# Cos: 142 | $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

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
SDN Operating System
13
19
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
$203M
6
-
7
1
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 904 | $13.4B)
Software Defined Networking (SDN)
(Versa Networks)
(# Cos: 142 | $2.5B)
OS (IP Infusion)
(# Cos: 7 | $203M)
IP Infusion
(1999, United States, $20.4M)
Cumulus Networks
(2009, United States, $129M)
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

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
OSS and BSS Solutions
14
20
Back to index
OSS & BSS (Sandvine)
(# Cos: 1020 | $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%)
3(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
62
$3.2B
100
15
270
10
eero
(2014, United States, $90.0M)
Fon
(2006, Spain, $71.7M)
Neusoft
(1991, China, $715M)
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
Connected2Fiber (2015, United States)
$12.0M - Series B - Mar 2021
Aervivo (2020, United States)
$5.8M - Seed - Mar 2021

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Unified Communication Software
15
21
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$16.2M (▲1.1%)
2( <> 0% )
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 (Citrix)
(# Cos: 904 | $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.
VOSS (2003, United States)
$15.0M - Series D - Sep 2021
Spaceit (2015, Estonia)
$1.2M - Seed - Aug 2021

22. 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
16
22
Back to index
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
SIM Providers (IDEMIA)
(# Cos: 49 | $135M)
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.

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Cloud RAN
17
23
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) (Flash Networks)
(# Cos: 290 | $3.4B)
Equipment (Movandi)
(# Cos: 216 | $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

24. 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
18
24
Back to index
OSS & BSS (Sandvine)
(# Cos: 1020 | $6.8B)
Business Support System (BSS) (OpenSignal)
(# Cos: 310 | $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.

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Optical Network Equipment
19
25
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$6.2M (▼86.5%)
1(▼50%)
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: 904 | $13.4B)
Equipment (Tellabs)
(# Cos: 491 | $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

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Recent Funding Rounds
Onomondo (2012, Denmark)
$3.6M - Seed - Jul 2021
Soft SIM
20
26
Back to index
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
SIM Providers (Gemalto)
(# Cos: 49 | $135M)
Soft SIM (uCloudlink)
(# Cos: 19 | $88.6M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$3.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$88.6M
12
1
19
2
uCloudlink
(2009, China)
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.

27. 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
21
27
Back to index
OSS & BSS (eero)
(# Cos: 1020 | $6.8B)
Operation Support System (OSS) (Sandvine)
(# Cos: 440 | $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)
VPIsystems
(1997, United States, $19.8M)
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
Free Space Optics Equipment
22
28
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$298K ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$511M
8
1
10
2
Telecom Infrastructure Tech (VMware)
(# Cos: 1664 | $23.1B)
Core Network (Avaya)
(# Cos: 904 | $13.4B)
Equipment (Ciena)
(# Cos: 491 | $8.6B)
Optical Wireless (Lucibel)
(# Cos: 28 | $653M)
Free Space Optics (fSONA)
(# Cos: 10 | $511M)
fSONA
(1997, Canada, $42.4M)
AOptix
(2000, United States, $108M)
OptiPulse
(2015, United States, $2.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
OptiPulse (2015, United States)
$298K - Seed - Apr 2021

29. Telecom - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent funding rounds
Investment Trends
Most Active Investors
Top Funded Business Models
Explore more on Tracxn
All Tech Companies
US Tech Companies
Online Travel Companies
Companies using AI in Healthcare
Companies founded by Stanford GSB Alumni
Soonicorn club in Fintech
Analyst Picks in Israel Tech
Key News in FinTech
Events in Bay Area
Angel Investors in United States
Bluebox
Companies Investment Activity
Miscellaneous
Company Detail Page of DoorDash
Competitors of Freshworks
Cap Table for TransferWise
Financials for Ola
Employee Count for Revolut
Company Due Diligence Exits
Public Companies
Acquired Companies
Most Active Acquirers
Reports
Delhivery - Company Report
Novel Foods - Business Model Report
HRTech - Feed Report
FinTech - Top Business Models Report
US Tech - Top Business Models Report
US Tech - Monthly Report
29

30. Telecom - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore other Reports on Tracxn
HRTech
InsurTech
Food Tech
Novel Foods
Blockchain Network
P2P Remittance
Business Model Reports
FinTech Europe
Consumer Digital SEA
HiTech US
Feed Geo Reports
Company Reports
Monthly Unicorn Report
Unicorn Reports
Transferwise
Coursera
BigBasket
Feed Reports Top Business Models in PA
FinTech
Enterprise Applications
Artificial Intelligence
Geo Monthly Reports
US Tech
Europe Tech
China Tech
Top Business Models in Geo
India Tech
Israel Tech
UK & Ireland Tech
30

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Telecom - Top Business Models Report
Thank You
31
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Limited including but not limited to the information
contained herein ("Data") is the sole property of Tracxn Technologies Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the Data or any portion
thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any other party, except
with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations or tools for your
customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com