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Shabodi has raised $13.9 million CAD ($10.3 million USD) in a Series A round on its mission to simplify 5G applications deployment for developers.
The startup’s founders believe that their technology is well-timed to make a splash in the market given the digitally-transformed world of COVID-19 testing the limits of existing networks.
“[COVID-19] kind of pushed 5G … because the existing networks were basically stretched,” Shabodi co-founder and CEO Vikram Chopra told BetaKit in an interview.
Toronto-based Shabodi’s round came mainly from existing investors from the company’s seed financing last year, all of which are American. CEAS Investments and SineWave Ventures led the Series A round. It also included participation from prior lead investor Blumberg Capital, Counterview Capital, Green Egg Ventures, Maccabee Ventures, Supernode Ventures, and Vishal Gupta, an executive at Internet of Things (IoT) company Lexmark.