Antenna Developer Secures Funding

Antenova has secured US$9.4 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 of Japan joining as a new investor.

"We want to ensure that Antenova has the capital to progress right through the current industry downturn because the prospects for its technology are remarkable - as a number of OEM customers have confirmed", says Jamie Brooke of Quester, who also sits on the board of Antenova. "Its antenna technology addresses key issues for the industry, including higher performance, increased network capacity, and much higher levels of immunity from wireless radiation".'"

Posted to the site on 1st August 2002