LONDON – Nujira Ltd., a pioneer of "envelope-tracking" technology as a power saver in cellular telephone power amplifiers, has announced it has secured £10 million (about $16.2 million) in a round of funding led by new investor, Climate Change Capital Private Equity (CPE).
The round was supported by some existing investors including Amadeus, NES Partners and Environmental Technologies Fund (ETF). Previous investors not mentioned include: Mitsubishi UFJ Capital and DFJ Esprit.
Nujira (Cambridge, England) was founded in 2002 and up until September 2009 had raised £26 million (about $42 million) and expected to profitable within 18 months, or by March 2011. The latest funding therefore takes the amount of venture capital invested in Nujira to more than about $58 million.
The money will be used to support Nujira's plan to install its Coolteq Envelope Tracking technology into 800 million 3G and 4G handsets by 2016, the company said.
"The funding will allow the expansion of Nujira's handset engineering team to support product development and engagements with leading vendors in the global handset market," said Tim Haynes, CEO of Nujira, in a statement. "Nujira has established itself as the market leader in envelope tracking and is shipping silicon. We have protected our IP position by building the world's most extensive and complete portfolio of patents filed or granted covering envelope tracking and the implementation of efficient wideband Power Amplifier (PA) transmission systems."
Lead investor CPE is providing £6 million of the equity financing, and James Hook, director of CPE, will be joining the Nujira board.
"Using Coolteq, the next generation of 3G and 4G smartphones will not only use less power in the transmitter, but will be smaller and cheaper as well," said Hook, in the same statement.
CPE is a 200 million euro (about $280 million) European private equity fund that invests expansion capital in high growth, later stage companies and buy-outs in the areas of clean power, clean transport, energy efficiency, waste recovery and water.
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