Blu Wireless has secured investment from Maven Capital Partners, a UK institutional investor managing the South West Investment Fund on behalf of the British Business Bank. The South West Investment Fund, which allocates £200 million to support smaller businesses and foster sustainable economic growth across the region, is aimed at backing innovative enterprises like Blu Wireless.
Located in Bristol, UK, Blu Wireless is experiencing rapid growth and shares the ambitions of both Maven and the South West Investment Fund. Following over six months of discussions, the timing for this investment opportunity was ideal for both parties.
Alexander Sleigh, Maven Investment Director, said: “Blu Wireless has developed a highly defensible and scalable mmWave solution which has the potential to materially improve connectivity on high-speed rail transportation. This new investment will enable the company to further commercialise its market leading technology including through the creation of new high quality engineering jobs in the Bristol region. We are pleased to have partnered with Alan and his team, through the South West Investment Fund, and we look forward to supporting them over this next phase of growth.”
Blu Wireless’ patented mmWave wireless solution for rail networks offers high bandwidth, low latency connectivity from trackside to train. It provides gigabit data throughput, enhanced security, and cost-effective deployment using the unlicensed 57-71 GHz frequency band.
Already successfully deployed in the US on the CALTRAIN commuter rail line between San Francisco and San Jose, and being rolled out on the South Western Railway (SWR) in the UK, this pioneering gigabit communications network is transforming high-speed transport connectivity.
“Having the South West Investment Fund, through Maven, invest in Blu Wireless is fantastic for the business and the area and underlines the progress the company has made over the last 24 months,” said Alan Jones, CEO of Blu Wireless.
This funding will support Blu Wireless in serving its expanding global client base, driving commercial deployments of mmWave technology worldwide, particularly in the rail sector, and laying the groundwork for the introduction of ‘gigabit trains’ both in the UK and internationally.
There’s plenty of other editorial on our sister site, Electronic Specifier! Or you can always join in the conversation by commenting below or visiting our LinkedIn page.
