Neul raises $12.8m (£8.0m) from DFJ Esprit-led syndicate to occupy TV white space
Neul, a company offering products and services for the globally-emerging TV white space spectrum, has raised $12.8million (£8.0m) from a syndicate of investors led by European venture capital firm DFJ Esprit. The funds will be utilised to address how unused TV spectrum – TV white spaces – could help satisfy the escalating demand for wireless internet connectivity.The founders and employees have also made a significant contribution.
Neul’s program will underpin several wireless data trials already underway, including the trial announced on 27th June 2011 by the ‘Cambridge Consortium’ of the BBC, BSkyB, BT, Cambridge Consultants, Microsoft, Neul, Nokia, Samsung, Spectrum Bridge and TTP.
Neul are aiming to unify M2M communications with the world’s first white space radio system and a new, open M2M communications standard, re-defining wireless data communications. Neul will shortly launch the new standard called “Weightless”. It is hoped that their white space wireless technology will enable a range of services and applications, from the predicted 50 billion connected M2M devices, through smart metering, to local broadband delivery, transportation and personal health devices.
Simon Cook, CEO DFJ Esprit, said, “Having worked with the founders in their last venture, I am excited to be working again with the team that have pioneered game changing wireless technology in Europe. They have an exciting vision, and with endless applications of the Neul network it will truly set a new standard for wireless communications.”
Phil O’Donovan of the Cambridge Angels and lead angel for the angel group added, “We also are delighted to invest in this significant new global wireless opportunity being enabled by the very well positioned Neul team.”
Neul announced its first product on 13th June 2011, NeulNET, the first radio system specifically designed for TV white space that meets all FCC/Ofcom regulations. This allows networks to operate safely and legally within TV white space.