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Blu Wireless Technology confirms new $3.7m investment
Corporate investment in mmWave multi-Gigabit baseband technology to drive company growth and sales
October 15, 2014 -- Bristol, UK – 60GHz wireless specialist, Blu Wireless has closed a $3.7m (£2.3m) funding round lead by a major international customer intending to exploit the company’s HYDRA baseband System IP for new 60GHz applications in 2016. The investment included $0.7m (£0.4m) follow-on funding from existing investors.
This investment will allow the company to drive further growth in the company, doubling in size to 50 staff, and bring to market the first high volume products using the HYDRA System IP by early 2016.
Blu Wireless’s HYDRA baseband technology uses a flexible parallel processing architecture to efficiently support the complex modulation schemes required for emerging multi-gigabit mmWave wireless communication standards. The IP is currently optimised for chipsets used in both advanced WiFi (WiGig) and 4G small cell deployments, and can be simply scaled to support the anticipated future standards as they move to 20Gbps and beyond.
Blu Wireless’s CEO, Henry Nurser commented: “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.” He added, “To fulfil this growing demand for our technology we continue to search for the very best engineers in the areas of digital design, System RF, DSP, MAC, Networking and embedded software, to join our already world class team.”
The Bristol, UK based firm is currently working with several of the world’s leading semiconductor and system companies.
Blu Wireless’s advisors to the transaction were solicitors Roxburgh Milkins Ltd.
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