Antenova secures GBP6 million in second round

Investee Company	Antenova Limited (UK)
Investee Company Business Type	Directional antenna technology provider
Type of Financing	Development
Equity Providers	Cambridge Gateway fund, Quester Capital Management Limited, Nippon Investment Fund, FNI and Yasuda Enterprise Development Co. Ltd
Equity Leader (Individual)	William Sporborg (Cambridge Gateway fund), and Jamie Brooke (Quester Capital Management Limited)
Debt Providers	N/A
Debt Type	N/A
Debt Leader (Individual)	N/A
Equity Amount	£6 million
Total Deal Value	£6 million

Other Advisors

N/A   

Comments

Antenova Limited, a leading provider of directional antenna technology, has raised £6 million in a second round of venture capital financing. This funding round was jointly led by Quester Capital Management Limited (Quester) and the Cambridge Gateway Fund, with FNI (the fund of the Nixdorf family), Nippon Investment Fund and new investor Yasuda Enterprise Development Co. Ltd also participating. Antenova has now raised a total of £9.4 million since its launch in 1999.

Antenova is a Cambridge-based technology company commercialising a revolutionary smart antenna technology which multiplies the capacity and performance of mobile networks and wireless communications. Antenova’s core technology is a new generation of solid-state directional and steerable antenna. This technology significantly increases performance – and reduces antenna size, power consumption, and risks to health – by providing a completely solid-state solution for controlling the direction of transmissions.

The additional funding keeps Antenova firmly on track for the debut of its technology in commercial products in 2003.

Jamie Brooke of Quester, said: “We want to ensure that Antenova has the capital to progress right through the current industry downturn because the prospects for its technology are remarkable – as a number of OEM customers have confirmed. Its antenna technology addresses key issues for the industry, including higher performance, increased network capacity, and much higher levels of immunity from wireless radiation.

William Sporborg of the Cambridge Gateway Fund said: “Antenova has maintained its pace of development and is actively engaged in helping wireless OEMs to create next-generation products. It’s clear that antennas are a key component for the future of the communication industry.