New beginning for Coventry broadband firm Genesis after £1.2m investment
COVENTRY-based broadband firm, Genesis Technical Systems, has secured £1.2m in venture capital to support the growth of the business.
The company, which provides of superfast broadband over copper, has attracted investment from VC firm Harwell Capital. Harwell invests in companies developing technology solutions for everyday business and consumer challenges.
Genesis was chosen by Harwell in recognition of the potential for the innovative broadband technologies it is currently developing.
The fresh investment will enable Genesis to bring two new products – mBond and DSL Rings – to market. mBond is intended for mobile operators wanting to rapidly supercharge their existing backhaul. DSL Rings are intended for fixed line operators wanting a cost-effective technology to deliver superfast broadband far cheaper than existing solutions.
Nigel Hall, CEO of Genesis Technical Systems, said: “This landmark investment from Harwell is a great confidence boost at a critical moment in our company strategy. It means we can accelerate our efforts from the innovation and development phase into full commercialisation.
“Both mBond and DSL Rings are generating market attention and provide real and exciting alternatives to the high-cost migration to fibre. We have completed trials in Asia and Europe with excellent feedback and first orders are expected in the summer.”
Harwell offers private clients the opportunity to invest in privately held technology companies at lower levels than offered by private equity funds. This allows investors to build their own technology portfolio with the potential to deliver superior returns and capital growth.
Harwell said it believed innovation and new technology would be major drivers of growth, and could deliver strong performances for investors.
“Genesis Technical Systems has already attracted interest from telecoms operators all over the world. Our investment will help them move quickly to the next stage of their very exciting journey,” said Rupert Gladitz, Harwell’s chief executive.
