Mercia invests a further £1.2m in University of Birmingham spin-out
HENLEY-in-Arden-based Mercia Technologies has completed a £1.2m follow on investment into Smart Antenna Technologies (SAT) a spinout from the University of Birmingham.
The investment is part of a total funding syndicate of £1.5m.
SAT has developed a global antenna system for devices with multiple wireless data connections, including smart phones, tablets and laptops.
Mercia’s investment will be used to continue SAT’s technology development alongside its on-going discussions with several major mobile and laptop partners.
Based upon patented technology developed by founder Sampson Hu, SAT is said to provide an efficient and low cost antenna solution to the mobile and portable device market. Mercia believes SAT’s highly scalable technology has the potential to lower costs, reduce size, increase frequency range and offer much needed performance gains over existing designs and technologies.
The executive chairman of SAT is Colin Tucker, the former Orange CTO and COO for European business, and the founding CEO of 3, the first 3G operator in the UK.
Currently, mobile handsets typically use around six different antennas, but such devices are unable to achieve the desired antenna performance in a size that fits the cellular handset package at acceptable volume production costs. Mobile device manufacturers are now seeking an effective antenna solution for implementing the next generation of mobile communication technologies such as LTE (Long Term Evolution), or 4G.
The global antenna market was estimated to be worth $14.2bn in 2013 and $15.1bn in 2014. It is predicted to grow to $19.9bn by 2019, according to a report published in December 2014 by BCC Research. One billion devices are produced annually, with the portable device market forecast to be producing 2.96 billion units per year by 2017.
Mark Payton, CEO, Mercia Technologies PLC, said: “We are delighted to continue to support Smart Antenna Technologies, which has gained a great deal of market interest since Mercia Fund Management’s initial investment, when it spun out of the University of Birmingham.
“SAT’s technology has the potential to be a major component in the development of next generation mobile devices.
“SAT is a further example of our Complete Capital Solution, whereby we selectively invest to scale portfolio companies emanating from our third party managed funds.”
