LONDON — Module and subsystem startup MMIC Solutions Ltd (Ledbury, England) has raised £2.7 million in a first round of VC financing to extend its development of receivers and modules for millimeter wave applications.
New investor YFM Group and existing investor Scottish Enterprise, investing through the Scottish Venture Fund, joined the round along with the company's other existing investors, including NESTA (National Endowment for Science, Technology and the Arts )and AEGF (Advantage Early Stage Growth Fund).
The company has previously raised just over £1.5 million in seed funding, and has already developed and commercialized 94GHz receivers, targeted mainly at millimeter wave security imaging systems.
Projects under development are targeting low cost modules for high capacity communications applications that support data rates of 1Gbit/sec and more, and operate in various unlicensed and "light-licensed" bands between 60 and 80GHz.
MMIC Solutions licenses technology from U.K. defense technology conglomerate QinetiQ.
Rodger Sykes, CEO of MMIC Solutions, commented:" Demand for our innovative technology continues to grow in applications such as weapons detection and high bandwidth communications, and this significant investment allows us to expand our team and production capabilities."
Sykes joined MMIC Solutions in March 2006, having been a founder and CEO at SiConnect Ltd, and President and CEO at picoChip.
