The past decade has seen phenomenal growth in the use of mobile devices. Driven by the increasing use of smartphones and tablets, there is an urgent need for investments in cellular infrastructure.
According to a 2013 report by technology major Cisco, over 85% of the world’s population now has access to a mobile phone. The number has possibly gone higher in the last two years.
Cisco, citing data from Strategy Analytics, notes in its report that the number of smartphones in use globally exceeded one billion in 2013 itself.
The increasing use of smartphones will lead to an increase in global mobile traffic. Cisco predicted in its 2013 report that global mobile data traffic will see a 13-fold increase between 2012 and 2017.
Further, Cisco noted in its report that global mobile traffic will grow at a rate three times faster than that of fixed IP traffic between 2012 and 2017. In 2011, revenue from global mobile data services reached $320 billion. Given the forecast growth, revenue is expected to double by 2017.
The outlook augurs well for 5BARz International Inc. (OTCQB:BARZ). Based in San Diego, California, BARZ’s business is focused on the global commercialization of a patented product technology branded under the 5BARz(R) brand name. 5BARz is a cellular network infrastructure device for use in small offices, home or when users are mobile.
The product incorporates a patented technology to create a highly engineered, single piece, plug n’ play unit that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices.
This morning, BARZ announced that it is accelerating its capital raising and business development in India. The company said that it has topped off a private placement with the recent equity investment of $1.11 million. BARZ has already put the fund to use.
In the past two weeks, the company has invested the funds under the terms of an offering memorandum.
Commenting on the recent developments, Daniel Bland, CEO at 5BARz, said that following the recent series of orders received by the company from Tier 1 cellular network operators in India, the funds raised through private placement provide a critical element for the expansion of business in a market with 981 million cellular phone subscribers.
Bland further said that BARZ’s management team in India is focused upon achieving rapid penetration into this marketplace.
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