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Airvana drums up $40 million

Airvana has raised $40 million for its third round of funding, bringing its total financing to about $81 million. The round was led by Matrix Partners with additional investment from Qualcomm, CommVest and Gururaj Deshpande, chairman of telecom equipment maker Sycamore Networks. Airvana makes equipment for wireless networks based on Qualcomm's CDMA2000 1xEV-DO technology, which offers high-speed Internet access to cell phone users. Chelmsford, Mass.-based Airvana will participate in trials of the so-called 3G, or third generation, technology starting this June in San Diego, which will be conducted by Verizon Wireless and telecom equipment maker Nortel Networks.

Airvana has raised $40 million for its third round of funding, bringing its total financing to about $81 million. The round was led by Matrix Partners with additional investment from Qualcomm, CommVest and Gururaj Deshpande, chairman of telecom equipment maker Sycamore Networks. Airvana makes equipment for wireless networks based on Qualcomm's CDMA2000 1xEV-DO technology, which offers high-speed Internet access to cell phone users.

Chelmsford, Mass.-based Airvana will participate in trials of the so-called 3G, or third generation, technology starting this June in San Diego, which will be conducted by Verizon Wireless and telecom equipment maker Nortel Networks.