$9.4M second-round funding, from a consortium led by Quester and Cambridge Gateway Fund, keeps antenna innovator Antenova on track

August 1, 2002

1 Min Read

CAMBRIDGE, U.K. -- Antenova has secured $9.4 million (£6 million) of second-round venture capital for its small and directional antenna technology, from a consortium led by Quester and Cambridge Gateway Fund. Almost double the size of its first round in 2001, the new level of funding reflects the importance of Antenova's pioneering development work for leading mobile phone and wireless OEMs.Antenova's unique antenna technology has attracted the attention of equipment makers all over the world, and the company is actively engaged in development programs for a number of international clients. Markets addressed include 2, 2.5 and 3G handsets and infrastructure - including novel developments in areas such as 'pico' basestations and street furniture - as well as terminals for other wireless market segments including WLAN and Bluetooth.All of Antenova's major investors from the first round - Quester, Cambridge Gateway Fund, Nippon Investment Fund and FNI (the fund of the Nixdorf family) - have continued with support, with Yasuda Enterprise Development Co. Ltd of Japan joining as a new investor."Since we started to raise awareness in 2001, we have been inundated with serious enquiries, and our technology appears to be substantially ahead of the competition", adds Antenova's CEO Dr Graham Cooley. "This funding round keeps us firmly on track for the anticipated debut of our technology in commercial products in 2003".Antenova Ltd.

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