Eagle Wireless, a Cleveland, OH-based cellular module manufacturer, has raised $30 million in a Series B funding round led by Asymmetric Capital Partners and The O.H.I.O. Fund.
The funding round increased the total to $44 million.
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The company plans to use the funds to grow its operations and continue developing its products.
Eagle Wireless, a leading U.S.-based cellular module manufacturer, is the only Western company serving both the IoT and automotive markets, offering scalable, secure, and high performance connectivity solutions for industrial, commercial, and vehicle applications.
As connectivity needs become more complex, customers want trusted partners who can provide not just key components, but complete, ready-to-use devices. Eagle Wireless’ move into U.S. based device production builds on its proven cellular modules, and helps customers launch products faster while leveraging domestic manufacturing and stronger supply chains.
Norbert Muhrer, CEO of Eagle Wireless, said, “This Series B is a major milestone and confirms our long-term strategy. As the industry moves from 4G to 5G, we are committed to investing in R&D to provide our customers with top-quality connectivity solutions for both IoT and automotive applications.”
TJ Dembinski, Co-Founder and President of Eagle Wireless, said, “From the start, we’ve focused on strong customer relationships through our cellular modules. This funding lets us expand that value to full-device solutions, helping customers simplify development, speed up deployment, and meet the growing demands of 5G connectivity.”
Mark Kvamme, Co-Founder and Chairman of Eagle Wireless and Founder & CEO of The O.H.I.O. Fund, said, “Eagle Wireless is well-positioned to boost U.S. technology and manufacturing. By using its proven cellular modules and strong customer relationships to support full-device production domestically, Eagle helps customers lower supply chain risks while building important connectivity infrastructure in the U.S.”
Sam Clayman, Partner at Asymmetric Capital Partners, said, “Eagle Wireless has created a unique platform connecting IoT, automotive, and next-generation connectivity. Their move from a leading module supplier to a full-device partner offers strong growth potential and we’re excited to support the team in this next stage.”
Eagle was founded in 2024, and this fundraiser follows a major growth year after starting production in Ohio in July 2025. As production increases, Eagle expects to achieve over $100 million in committed run-rate revenue in the module market over the next 12 months. The company also plans to use its relationships with top customers to expand into device production and design services.
About Eagle Wireless
Founded in 2024, and led by CEO Norbert Muhrer, Eagle Wireless provides global IoT products and manufacturing services. With offices in North America, Europe and APAC, the company works with customers worldwide, offering reliable wireless and manufacturing solutions for secure IoT, and automotive supply chains.
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