Nujira has secured $18m in series C funding which the Cambridge-based company said it will use to commercial its Coolteq products for the cellular network and broadcast markets.
“We are in negotiation with several more OEMs and this will bring our market coverage to almost 100% in the Cellular Infrastructure market, with TV Broadcast not far behind,” said Tim Haynes, company CEO and founder.
Nujira also has plans to develop handset silicon due to be launched during 2009.
“We are also starting to see the real value this technology has in the world of handsets and are predicting over 50% market penetration of the technology by 2012,” said Haynes.
Lead by a new investor: BankInvest Group, New Energy Solutions Fund, the round sees further investments from existing investors: Amadeus Capital Partners, 3i, Cambridge Capital and Cambridge Angels.