Bristol-based Blu Wireless, which makes mmWave (unlicensed 57-71GHz) radio networking technologies in the UK, has secured an investment boost from Maven Capital Partners (a fund manager for the British Business Bank’s South West Investment Fund) to help both promote and drive sustainable economic growth and support innovative.
Both organisations are said to have been in talks for over six months, and the opportunity to invest at this point in time is said to have “made perfect sense for both parties“. At this stage it’s unclear precisely how much investment has been secured, although Maven Equity Finance will often invest between £150,000 and £5 million into such companies.
The deal seems to be at least partly related to Blue’s new patented mmWave wireless solution for rail networks, which provides high bandwidth and low latency connectivity from trackside to train. The solution “delivers gigabit data throughput, increased security and cost-effective deployment” and is already being rolled out on the busy South Western Railway (SWR), as well as in the USA (e.g. the CALTRAIN commuter rail line running from San Francisco to San Jose).
Alexander Sleigh, Maven Investment Director, said:
“Blu Wireless has developed a highly defensible and scalable mmWave solution which has the potential to materially improve connectivity on high-speed rail transportation. This new investment will enable the company to further commercialise its market leading technology including through the creation of new high quality engineering jobs in the Bristol region. We are pleased to have partnered with Alan and his team, through the South West Investment Fund, and we look forward to supporting them over this next phase of growth.”
This investment will allow Blu Wireless to serve its growing international customer base and deliver commercial mmWave deployments worldwide. It will also fuel commercialisation of mmWave technology in the rail sector and pave the way for the ‘gigabit train’ in the UK and globally.