Sparkplug, provider of WiMax based wireless business broadband services, today announced that it has received $22.5 million in funding. The funding which is part equity and part debt, was led by Ignition Partners, The Greenspun Corp, and Trilogy Equity Partners. Other investors in this round included Allen & Co. and Square 1 Bank.
Sparkplug was formed last year from the merger of three established companies: Sparkplug in Chicago, Prairie iNet in Des Moines, Iowa; and Telespectra in Phoenix. Sparkplug operates in 8 Midwest and Southwestern states including Arizona, Tennessee, Iowa, and Illinois. As compared to that Clearwire operates in 13 states currently.
However the mobile WiMax dream continues since Sparkplug is a business facing fixed WiMax based broadband service provider. As for the spectrum range, Sparkplug operates in the 5 Ghz range. Sparkplug’s starting subscription plans comes for $295/month for up/down speeds of 2 mbps. Speeds are scalable to from 2mbps to 200mbps with higher pricing.
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