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Little speculative cash is flowing to the wireless sector these days. Wireless startups lured oodles of capital through last year, but the adoption of wireless technology has not grown as expected, leaving many flailing startups. However, not all venture capitalists are waiting for the wireless market to recover.
Mission Ventures has invested $6.5 million in wireless technology company Widcomm Inc. as part of the company's $11.5 million Series C round, announced Wednesday, July 17. It came at a $51.5 million post- money valuation, one-third less than its last round.
Other new investors include AsiaTech Management from Santa Clara, Calif., Korea Development Corp., and The Viterbi Group in San Diego. Enterprise Partners returned as an investor but a series of earlier strategic investors didn't.
"We like the wireless sector and have a series of investments there, but what I really liked about Widcomm is...