Samsung invests $5 million in mobile broadband developer Stoke

Samsung invests $5 million in mobile broadband developer Stoke

Mobile broadband firm Stoke has received $5 million from Samsung in a ‘strategic’ investment round, the companies announced this morning.

The money, which actually comes from Samsung’s investment subsidiary, called Samsung Venture Investment Corporation, will be used to support Stoke’s penetration of the worldwide LTE market.

The company, which designs hardware systems for 3G, 4G, and Wi-Fi mobile carrier networks, is looking to make waves with its gateway solutions, which basically secure voice, data and video traffic on LTE networks.

Stoke has previously received financial backing from high-profile investors like Kleiner Perkins Caufield & Byers, Sequoia Capital, DAG Ventures and Docomo Capital. Last month, it raised $3.5 million from Keating Capital.

Brian Kang, Senior Director of Samsung Venture, explains why they also wanted a piece of the Stoke action:

“Samsung has deployed and commercialized very large LTE networks and this proven experience in LTE deployments demonstrates the company’s ability to support customers worldwide in this new era of communications.

We are excited by the market potential of Stoke’s gateways to enhance and support the performance and value of differentiated solutions in the LTE space.”

Stoke was founded in 2004 and is headquartered in Santa Clara, California. The company has raised roughly $100 million in capital to date.

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