Blu Wireless, a Bristol, UK-based Silicon Intellectual Property (SIP) provider, raised $3.1m (approximately £2m) in funding.
The round was led by Qi3 Accelerator, who represented a syndicate of over $1.5m (£1m) of London Business Angels private investors, including Wren Capital, with participation from the Angel Co-Fund ($0.9m/£0.6m).
Led by CEO Henry Nurser, Blue Wireless develops low-cost 60 GigaHertz (GHz) wireless applications for the emerging multi-gigabit communications market. Its baseband technology, which uses flexible parallel processing architecture, is currently optimized for advanced Wi-Fi and 4G small cell deployments.
The company, which also plans to offer its solutions under licence agreements to chipset manufacturers, intends to use the capital to double its staff to 30 and complete the development of its HYDRA baseband IP offering for 802.11ad next generation WiFi (WiGig CERTIFIED) and 4G mobile network backhaul applications.
FinSMEs
05/08/2013