Belgian firm Gimv has invested US$10m in the series B financing round of German technology company Ubidyne.
Gimv joined a syndicate of existing investors including Baytech, Doughty Hanson and TVM in this financing round totalling US$ 43m. The new capital will be used by the company to accelerate its growth.
Founded in 2005, Ubidyne is a spin-out from Siemens and is responsible for the world’s first digital Antenna Embedded Radio system used in mobile communication networks. The company’s patent-pending technology improves wireless networks. The company is based in Ulm, Germany and Arizona, USA.
Munich-based Partner of Gimv Technology, Hansjörg Sage said: “We believe Ubidyne is poised to revolutionize the wireless base station industry with its unique digital radio technology”.
In addition to this transaction, Richard Seibt, chairman of the Open Source Business Foundation (OSBF), is joining the Technology Advisory Board. He has 30 years of experience in the IT industry, mainly in software and internet. Before his latest post, Seibt was CEO of SuSE Linux and was also president EMEA. He is also board member of several, mainly European, software companies and acts as a business angel.