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Nujira secures $18 Million in series C funding
By siliconindia
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Thursday, 18 September 2008, 22:17 IST
Cambridge: Nujira, a player in efficient RF transmission for cellular and broadcast networks, has announced the closure of an $18 million series C round. The new funding enables Nujira to continue with the commercialization of its Coolteq products for the cellular network and broadcast markets and to accelerate development of its Coolteq handset silicon due to be launched during 2009.
Led by a new investor: BankInvest Group, New Energy Solutions Fund, the round sees further investments from existing investors including Amadeus Capital Partners, 3i, Cambridge Capital and Cambridge Angels.
Poul Erik Schou-Pedersen, Managing Partner at BankInvest New Energy Solutions said: "BankInvest is actively investing to help bring efficient technologies to market and is now adding Nujira to its growing portfolio. The company's products and value proposition challenge the traditional power efficiencies within the telecoms market."
Tim Haynes, CEO and Founder of Nujira said "We are in negotiation with several more OEMs and this will bring our market coverage to almost 100 percent in the Cellular Infrastructure market, with TV Broadcast not far behind. In addition, we are starting to see the real value this technology has in the world of handsets and are predicting over 50 percent market penetration of the technology by 2012."
