We’re delighted to confirm our most recent funding from Calculus Capital, a leading EIS and VCT investor. This follows an investment from ARM earlier this year. Please read the press release from Calculus Capital below and see coverage on our news in The Telegraph.
Calculus Capital, a leading EIS and VCT investor, is to invest £2.4 million as cornerstone investor in a £6.6 million institutional and private investment round into Blu Wireless Technology (“BWT”), a firm that is leading the way in bringing ultra-fast millimetre Wave (mmWave) wireless technology into homes and businesses through the roll-out of Wi-Gig® and 5G networks.
Calculus Capital’s investment supplements the recent funding round lead by ARM, the UK semiconductor and software design company purchased in 2016 by SoftBank. The investment will enable Blu Wireless Technology to accelerate the design and development of its core wireless technologies.
Semiconductor manufacturers such as ARM, use Blu Wireless technology to build networking chips that allow for high bandwidth, low latency data transfer. These chips are then used in internet-enabled devices and data networks.
Blu Wireless technology is already playing an important role in the creation and roll-out of the next generation of high speed internet and wireless-enabled systems. These range from virtual reality headsets and ultra-fast video streaming, through to 5G networks. They are also set to help pave the way for the advent of so-called ‘smart’ cities, in which the real-time collection and analysis of data from urban assets and infrastructure is undertaken to better and more efficiently manage those resources.
Blu Wireless, which has many of the world’s leading semiconductor and consumer electronics companies among its customers, will use Calculus’s investment to further grow its software design and development team and recruit additional sales and marketing resource to help expand the company’s client base.
Alexander Crawford, Investment Director, Calculus Capital, said: “Blu Wireless is a key player in the growth of mmWave wireless communication, which allows for multi-gigabit per second data transfer. This technology has been heralded as the future for ultra-fast wireless, used in routers, laptops, smartphones and all sorts of other internet-enabled devices and systems, as well being vital to the roll-out of 5G networks and to increase the performance of existing 4G networks”.
John Glencross, Chief Executive, of Calculus Capital, said: “Blu Wireless is a fantastic example of the UK’s growing reputation for producing, and being home to, world-class global technology firms.”
“The strength of Blu Wireless technology – and its great future potential – has been underlined and enhanced by the long term strategic investment by ARM, the UK’s most successful tech firm. We are delighted to be investing alongside ARM and the other investors involved in this fundraising.”
Noel Hurley, VP and GM Networking Group, at ARM said “Since our investment in Blu Wireless earlier this year, we have seen a dramatic acceleration in interest in mmWave technology from our customers within the telecoms industry. This further investment round lead by Calculus will allow Blu Wireless to invest in the development of their system IP to satisfy our common customers’ future needs”
Blu Wireless has an experienced executive team led by Henry Nurser. Its board includes Pete Magowan, former Executive Vice President of ARM, and its advisory board includes ARM’s founder CEO and former Chairman, Sir Robin Saxby.
Blu Wireless, which was founded in 2009, currently employs around 60 people in Bristol, as well as staff in sales offices in North America, China and Japan.
Henry Nurser, Blu Wireless Chief Executive, said: “This is an extremely exciting phase for Blu Wireless. The backing from Calculus and other institutional and private investors, alongside that of ARM, will enable us to accelerate the development and wider roll-out of our ultra-fast mmWave wireless technologies and systems. These will ultimately be of great benefit to us all, whether that’s someone using a lightweight ultra HD virtual reality headset or requiring access to reliable high bandwidth internet on public transport.”