STING Capital invests € 215,000 in burgeoning WiMAX manufacturer HULU

Publicerad: 2008-03-27

STING Capital is proud to announce a € 215,000 investment package for WiMAX design manufacturer HULU. Operating under the mantra ?Internet Everywhere?, HULU offers global access to wireless broadband through its own WiMAX technology, an alternative to DSL.

Established in 2004, HULU’s primary market focus is in Asia, South America and the United States.

“With their unique WiMAX modem HULU has already succeeded in positioning itself globally by supplying evaluation platforms to many international clients,” says Martin Gemvik, Investment Manager at STING Capital.

“HULU’s philosophy on interoperability is very exciting, a guiding principle that seeks to establish wireless broadband everywhere, regardless of service providers,” adds Gemvik. Gemvik believes that in time HULU will develop its core business from bulk WiMAX sales to more licensing system and technology sales.

“Demand for innovative solutions is growing in Central and South America, as well as the Middle East. Thanks to this investment, we can concentrate on commercializing our products and start full-scale deliveries of WiMAX terminals for outdoor use for the first time,” says Hans Davidson, HULU CEO.

“We also hope to launch the next generation of terminals very soon – units which are ground breaking in their functionality, power use, size and cost savings,” adds Davidson.