LONDON A spin-out from Cardiff University has received co-investment from Finance Wales plc, Fusion IP and the ERA Foundation to commercialize technology that enables the energy efficient operation of base stations in mobile communication networks and mobile phones by using less power.
Mesuro Ltd (Cardiff, Wales) raised £1million (about $1.6million) through its first equity funding round.
According to Richard Emsley of Mesuro the company's technology allows the mobile phone manufacturer to make their power amplifiers operate closer to theoretical efficiency, something which has not previously been possible.
Finance Wales plc (Newtown, Wales) and university investment group, Fusion IP plc (Sheffield, England), are each investing £375,000 (about $620,000=) in equity alongside £250,000 (about $410,000) from the ERA Foundation (Leatherhea, England).
Fusion IP owns the rights to 100 per cent of the university-owned research generated at Sheffield University and Cardiff University.
Steve Smith, director of early stage investments at Finance Wales plc, said “Working in partnership with the company and our co-investment partners we were able to structure an investment package that affords Mesuro the opportunity to complete its product development and achieve its all important first sales.”
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