Peraso Secures $1.4 Million Follow-on Order, Further Validating the Benefits of mmWave in High-Density Environments
Online, October 24, 2024 (Newswire.com) - Peraso Inc. (NASDAQ:PRSO) ("Peraso" or the "Company"), a leading provider of mmWave wireless technology for fixed wireless access ("FWA"), today announced a $1.4 million follow-on purchase order from a prominent South African wireless Internet service provider ("WISP"). This order for Peraso's innovative mmWave equipment builds on an initial production order secured and shipped in the second quarter of 2024.
"We believe this repeat order is a testament to the performance and reliability of our mmWave technology in addressing the critical connectivity needs of underserved communities and that it further validates the strong and growing demand for Peraso's solutions in dense urban markets," said Ron Glibbery, CEO of Peraso. "We are proud to partner with WISPs in South Africa and worldwide with the goal of delivering high-quality internet access that empowers individuals and businesses alike."
Peraso's mmWave technology operates in the unlicensed 60 GHz band and offers superior performance in dense urban environments, where traditional 5 GHz/6 GHz licensed devices can struggle with interference and congestion. This advantage is particularly crucial in South Africa, where reliable connectivity is essential for economic growth and social development. Furthermore, Peraso's low-power consumption technology provides significant benefits in a market heavily reliant on battery backup systems due to frequent power outages. "The rapid growth of internet users in Africa presents an important opportunity to bridge the digital divide," added Glibbery. "Using real-time, phased array beamforming, coupled with the highly efficient DUNE protocol, we believe Peraso's FWA technology is ideally suited to high density, urban markets."
About Peraso Inc.
Peraso Inc. (NASDAQ: PRSO) is a pioneer in high-performance 60 GHz unlicensed and 5G mmWave wireless technology, offering chipsets, modules, software, and IP. Peraso supports a variety of applications, including fixed wireless access, military, immersive video, and factory automation. In addition, Peraso's solutions for data and telecom networks focus on Accelerating Data Intelligence and Multi-Access Edge Computing, providing end-to-end solutions from the edge to the centralized core and into the cloud. For additional information, please visit www.perasoinc.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. All statements in this release that are not based on historical fact are "forward-looking statements." These statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "strategy," "goal," or "planned," "seeks," "may," "might", "will," "expects," "intends," "believes," "could," "should," and similar expressions, or the negative versions thereof, and which also may be identified by their context. All statements that address customer relationships, as well as availability, operating performance, cost benefits, and advantages of the products of Peraso and its customers, market acceptance of Peraso's products, and anticipated acceptance and use of mmWave technology by service providers, that are not otherwise historical facts, are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to: timing, receipt and fulfillment of customer orders associated with our mmWave products and solutions; anticipated use of mmWave by our customers and intended users of our products; the availability and performance of Peraso's products and solutions; the successful integration of Peraso's products and technology with customer and third-party semiconductor, antenna and system solutions; reliance on manufacturing partners to assist successfully with the fabrication of our ICs and antenna modules; availability of quantities of ICs supplied by our manufacturing partners at a competitive cost; level of intellectual property protection provided by our patents; vigor and growth of markets served by our customers and our operations; and other risks included in our Securities and Exchange Commission filings. Peraso undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
Peraso and the Peraso logo are registered trademarks of Peraso Inc. in the U.S. and/or other countries.
Contact Information
Tyler Weiland
Vice President, Public Relations
tweiland@sheltongroup.com
(972) 571-7834
Mark Lunsford
CRO
mlunsford@perasoinc.com
SOURCE: Peraso Inc.
Source: Peraso Inc.