Zinwave secures fresh capital
Zinwave, a specialist in in-building cellular and wireless technology, today announced that Catapult Venture Managers, a leading development capital equity investor, joins the syndicate of SEB Venture Capital, Atlas Venture and Scottish Equity Partners (SEP) as a shareholder. The round was led by Catapult alongside investment from the syndicate. Zinwave says the funds will be used to boost manufacturing throughput following the successful expansion into the US and Asia during 2009 with a rapid growth rate and uptake in these regions. Zinwave will continue to expand sales in these regions, as well as gaining market penetration in the key area of Middle East.
Jonathan Earl, Investment Director at Catapult commented, "We are delighted to join Zinwave's strong investment syndicate. We believe Zinwave to be very well positioned in a rapidly growing market as a result of its unique wideband product. The company has now generated impressive sales traction, with a reference base of prestigious sites and a number of newly secured sales channels. We have also been very impressed with Zinwave's highly experienced management and are confident in their ability to deliver and manage significant further growth."
Zinwave's 3000 DAS is claimed to offer the industry's only true Wideband Distributed Antenna System (DAS) supporting any service and wireless technology between 136MHz to 2700MHz, irrespective of protocol or modulation scheme.
"Zinwave expects growth to accelerate further throughout 2010/11, fuelled by the increasing importance of reliable emergency service communications in buildings, as well as uptake of emerging higher frequency technologies and services including 3G and 4G. This commitment from Catapult and our existing investors will allow us to build on our sales success in US and Asia, accelerating our growth and reach in the market," said John Forrest, Chairman of Zinwave. "In parallel with the investment, we are particularly excited to announce that Geoff Finch, former Board Director at BT, will join the Zinwave Board as a non-executive director," he added.
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