Blu Wireless, a UK-based developer of 5G communication technologies, has raised £12.7m ($16.6m) in a growth-stage round that was co-led by mobile chipset manufacturer Arm.
The round was co-led by Calculus Capital, Kendall and MGL, and also featured Guinness Asset Management.
Founded in 2009, Blu Wireless supplies connectivity technology for wireless network applications that enables the operator to limit latency and instability in data speeds.
The company already has a partnership in place with rail operator Frain Group to implement its technology in the UK, and plans to scale its operations by adding sales, software development and customer support staff.
Blu, a spinout of University of Bristol, had previously received $12.5m in a June 2017 round led by Arm that included Calculus Capital.
Qi3 Accelerator led a $3.1m angel round for the company in 2013 that was also backed by Angel Co-Fund, Wren Capital, London Business Angels’ 2013 EIS Fund and various angel investors.
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