Overview:
Andrena (andrena.com) is a provider of low-cost, fixed wireless (FWA) Internet service that is priced at less than 50% of the cost of traditional broadband, has comparable speed, and can be installed in minutes because it doesn’t require third-party installation. Andrena’s proprietary software and antenna infrastructure enables Andrena to wirelessly provide broadband service to customers in a convenient manner.
Founded in Princeton, NJ Andrena focuses on providing internet access in secondary geographies, including Princeton, Trenton, Newark, Paterson, Jersey City, Hoboken, Brooklyn, and Queens. They also provide dedicated Internet, managed WiFi, and Private LTE services for a range of large institutions including Industry City and a Philadelphia-based hospital system.
Investment Rationale:
We were introduced to the Andrena team in early 2019 and were immediately impressed with the team and the technology. As we dug further, we were able to quantify the massive opportunity the team was going after. The fixed wireless market is poised for rapid growth over the next decade. The current fixed wireless market is around $2B in size, a fraction of the total market, which we estimate to be in the $55B range for broadband in the U.S.