Wireless companies receive $915M in 2Q venture capital

Venture capital activity in the wireless sector continued in the second quarter, providing encouragement for the industry?s financial health, according to Rutberg & Co.?s 2Q03 Wireless Update. During the second quarter, 144 wireless companies received $915 million in venture capital, down 15% from the first quarter but up 22% from the year-ago second quarter. Of those, 26 companies, or 18 percent, represented early-stage funding, indicating wireless companies continue to form. Investments were focused on 802.11, rich media, device management, data mobilization and messaging.