Telecoms firm raises £12.7m to rollout 5G
A telecoms company has raised £12.7 million to roll out its 5G infrastructure across the UK.
Bristol-headquartered Blu Wireless has gained investment from Arm, Calculus Capital, Kendall and MGL, as well as a major new investor in Guinness Asset Management.
Blu Wireless is already working with telecoms infrastructure providers and semiconductor companies in the US, Japan, the UK and mainland Europe as it looks to deploy its technology, within applications demanding 5G levels of bandwidth and low latency connectivity.
Recently, the company revealed a supplier partnership with international railway operator FirstGroup to cost effectively address passengers’ demands for reliable on-board Wi-Fi connectivity.
"The strong financial foundation that our investors are giving us will be crucial to our ability to work with our partners to deliver large scale mmWave 5G deployments across a number of key markets,” said Blu Wireless chief executive Henry Nurser.
"Working closely with our partners and their customers, we are seeing a diverse and growing range of emerging applications for our technology – whether it be for drone-to-drone communications or private enterprise networks.
“We’d like to thank all our shareholders for their continued support at this pivotal commercialisation phase."
Shane Gallwey, fund manager at Guinness Asset Management, added: "We’re delighted to be backing Blu Wireless. We can clearly see the technology’s potential for existing and future applications in 5G. It was a straightforward decision for us to invest."