Cycell, a London, UK-based specialist mobile virtual network operator, has closed a £1m funding round.
Backers include a group of London Business Angels investors, which committed £160k.
The company intends to use the capital to fund further stock acquisition and to support the transition from trial phase to commercial scale operations.
Founded by Thomas Sunderland, Cycell operates its own brand of Ownfone handsets (www.myownfone.com), a mini, light, low cost cloud phone that connects users directly with a small network of friends and family, and offers a full range of specialist white label handsets and airtime contracts.
The company has already launched its mobile service across the country through Age UK, its first major distribution partner.
FinSMEs
09/12/2012