MONTREAL (WiMAX Day). Wavesat announced yesterday that it completed a round of funding lead by the Korean network supplier SK Telecom. Although Wavesat did not disclose the terms of the investment from SK Telecom, it is rumoured to be roughly $7 million. Existing investors in Wavesat include BDC Venture Capital, Monet Capital and Skypoint Capital Corporation, among others. Wavesat is a fabless semiconductor company developing WiMAX chipsets, software and reference designs. In a press release issued by Wavesat, Dr. Sean Sehyun Oh, CTO of SK Telecom said of the investment: “After looking at many semiconductor suppliers, we are pleased to extend our existing development partnership with Wavesat into an equity investment in the Company. We are convinced that Wavesat will be a leader in the WiMAX/WiBro market.”