LONDON – Socowave Ltd., a 2008 mobile communications startup with connections to University College Dublin, has announced that it has secured a €3 million (about $3.8 million) series A investment round led by Balderton Capital.
The money will be used for the development of Socowave's beam-forming technology, the company said. This technology can be used to increase the data handling capacity of cellular radio infrastructure whilst reducing the energy consumption. Barry Maloney, partner at Balderton Capital, will join the Socowave board.
It is an active antenna system technology that allows the cellular base station to detect the directions of incoming signals from user groups and to optimize the radio link for those directions using digital techniques. Socowave estimates that this can increase wireless data handling capacity five-fold, while reducing the energy consumption of the overall base station system by 50 percent by eliminating inefficient basestation components and locating certain elements inside the antenna housing.
"This funding from Balderton Capital provides Socowave with resources to accelerate the development of our Active Antenna System technology platform, delivering a new class of radio access platform for 3G, LTE and 4G cellular networks," said Joe Moore, founder and CEO of Socowave, in a statement.
Socowave is headquartered in NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin and its R&D centre is located in the National Software Centre, Cork. The company is supported by Enterprise Ireland.
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