Neul, a market leader in ‘white space’ technology, has raised £8m in investment from a DFJ Esprit-led syndicate, with the founders and employees also making a significant contribution.
The funding round, which has also involved IQ Capital and Cambridge Angels, will enable Neul to develop its wireless internet technology for television broadcasting technology.
The technology enables broadcasters to fill gaps on a television screen, otherwise known as white space.
Neul aims to create the first white space radio system, and develop a new standard for machine-to-machine communication, called "Weightless".
The funding will also be used to support several wireless data trials already underway, including a trial announced onMonday by a consortium comprising the BBC, BSkyB, BT, Cambridge Consultants, Microsoft, Neul, Nokia, Samsung, Spectrum Bridge and TTP.
James Collier, chief executive of Neul said: "This investment will allow Neul to further expand its leadership position in fully compliant white space wireless systems. It is a real pleasure to be working with one of the leading investors in wireless technology in Europe, DFJ Esprit."
Simon Cook, chief executive officer of DFJ Esprit, said: "Having worked with the founders in their last venture, I am excited to be working again with the team that have pioneered game changing wireless technology in Europe. They have an exciting vision, and with endless applications of the Neul network it will truly set a new standard for wireless communications."
While Phil O'Donovan, lead angel of the Cambridge Angels, added: "We also are delighted to invest in this significant new global wireless opportunity being enabled by the very well positioned Neul team."