Silicon IP start-up closes £2m funding in deal led by Qi3 Accelerator

Major investment in Blu Wireless to advance its 60GHz multi-gigabit technology

Megan Dunsby 2 August 2013 15:26

Silicon Intellectual Property (SIP) provider, Blu Wireless, has secured £2m in a funding round led by investment firm Qi3 Accelerator.

Over £1m of the growth capital was backed by a group of private investors from angel investment network London Business Angels with a further £900,000 invested by the Angel Co-Fund.

The Bristol-based SIP start-up 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 only optimised for advanced Wi-Fi and 4G small cell deployments but it intends to use the capital to scale its technology to meet larger cell deployment standards.

The company then plans to sell its ‘innovative’ solutions under licence agreements to chipset manufacturers.

The finance will also be utilised to meet its expansion plans to grows its team to 30 employees.

Blue Wireless CEO, Henry Nurser, commented:

“With the completion of this funding round, we will be executing our plan to become the leading supplier of baseband system IP to manufacturers in the 60GHz sector.”

Tim de Vere Green, co-founder of Qi3 Accelerator, added:

“We believe 60GHz applications in both consumer WiGig and telecoms backhaul are set for rapid growth, and Blu Wireless is already working with several of the world’s leading semiconductor companies in these markets.”

 

http://www.growingbusiness.co.uk/silicon-ip-start-up-closes-2m-funding-in-deal-led-by-qi3-accelerator.html

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