Telco OEM Mavenir Telecom has announced that it has received up to a $75 million investment from an existing backer.

The company said that the investment will support its business strategy, which is focused heavily on 5G deployment.

Mavenir did not name the investor that has provided the additional capital.

“Mavenir continues to be an industry leader at the forefront of network innovation and automation," said Pardeep Kohli, president and CEO of Mavenir.

"With our investor group’s support, we will accelerate strategic investments in Open RAN and 5G Core solutions and efficiently meet our product roadmap. We are excited to continue building networks of the future for the benefit of our customers and partners.”

In May of last year, Mavenir secured $100 million worth of capital for developing its Open RAN offering. Before this, the telco raised $250m in 2022 through two separate raises.

Earlier this year, the company told Live Mint that it expects to sign a contract with Indian telco Vodafone Idea (Vi) for the deployment of its 5G network this year.