UK Femtocell Maker picoChip Gets $20 Million VC Funding
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UK femtocell maker picoChip has secured $20 million (£12.1 million) in VC funding from a host of investors including Altas Ventures, Highland Capital Partners and Pond Venture Partners. Also joining the round are Intel (NSDQ: INTC), Samsung and AT&T (NYSE: T), which is keen to boost its own femtocell offering. Femtocells are 3G mobile signal generators, designed to boost mobile network and wireless internet coverage in homes or offices. Release.
Bath-based picoChip claims to be the industry’s “dominant” provider of femtocell sillicon and CEO Nigel Toon says this cash will fund it towards a planned IPO. Figures from ABI Research shows that the number of femtocells globally will rise to 2.3 million next year with the number reaching40 million in 2014. UK femtocell maker Ubiquisys received $11 million in VC funds in August.
Posted In: Mobile, Money, M&A & Venture Capital, Venture Capital
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