UT AUSTIN SPINOUT STARTUP GENXCOMM LANDS $1.5 MILLION IN SEED FUNDING
Silicon Hills News: One of the latest startups to spin out of the University of Texas at Austin, GenXComm has received a $1.5 million seed round of financing. The Austin-based startup is focused on doubling the amount of traffic a wireless network can handle. Its patent-pending technology is called S-SIX.
FAM Capital Partners led the investment with investments from the UT Horizon Fund and other investors. GenXComm, founded in 2016, has created patent-pending technology that doubles the capacity of the available network and increasing performance by up to 30 times for dense environments, said Sriram Vishwanath, co-founder and president of GenXComm. He is also a professor of electrical and computer engineering at UT Austin.
The problem today is that networks “must transmit and receive in either different frequencies at the same time, or at different times on the same frequency,” according to a news release.
"What we are enabling is a whole new class of communications tools that can talk and listen at the same time," Vishwanath said. “We enable the solution to remove interference."
“GenXComm’s technology enables multiple transmitters to coexist side-by-side, enabling life without interference,” according to a news release. GenXComm is already testing its technology and plans to deploy it nationwide through licensing deals and through its own products.
The company, which has 11 employees, plans to use the latest funding to hire key employees and to continue research and develop on its technology and testing with strategic partners.
“GenXComm is focused on commercializing a UT-based technology with massive potential,” Nick Tulloh, Senior Investment Analyst with the UT Horizon Fund, said in a news release. “With the increasing adoption of IOT devices and streaming services representing an increasing portion of mobile internet traffic, data demands are outpacing network capabilities. GenXComm plans to deliver quality and capacity improvements across the whole spectrum of networked devices.” In April, GenXComm presented at the Innovation Center’s StARTup Studio.
This isn’t Vishwanath’s first startup. A few years ago, Vidur Bhargava and Vishwanath invented patented software technology to make wireless networks perform more efficiently at UT Austin. That technology is being commercialized by M87, a startup founded in Austin, which moved to Seattle.