Blu Wireless Technology secures £2.4m to scale its mmWave wireless communications technology.
The funding round was led by an international corporation and will support headcount growth and product commercialisation.
Blu Wireless Technology supplies semiconductor and system intellectual property for millimetre wave and high bandwidth wireless communications markets.
Blu Wireless Technology has secured £2.4m in a funding round led by an international corporation. The round includes £500k in follow on funding from existing backers.
The proceeds will be used to expand the headcount, doubling the team to 50 staff, and commercialise the first high volume products utilising the HYDRA System IP by early 2016.
Solicitors Roxburgh Milkins acted as advisors for the transaction.
From the founder
"We are excited by this recent vote of confidence in the ability of Blu Wireless’s team to deliver truly ground-breaking technology to demanding schedules and specifications."
Henry Nurser
CEO at Blu Wireless Technology
Use of funds
- 01Grow the team
- 02Continue product development
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About the company
Blu Wireless Technology
Blu Wireless Technology develops semiconductor and system intellectual property for millimetre wave communications.