Neul, a company offering products and services for the globally-emerging TV white space spectrum, today announced it has raised $12.8million (£8.0m) from a syndicate of investors led by European venture capital firm DFJ Esprit and including IQ Capital and Cambridge Angels. The founders and employees have also made a significant contribution.
Neul will unify the fragmented world of Machine-to-Machine (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".
Neul's white space wireless technology will enable a range of services and applications, from the predicted 50 billion connected Machine-to-Machine (M2M) devices, through smart metering to local broadband delivery, transportation and personal health devices.
Neul Chief Executive James Collier said, “This investment will allow Neul to further expand its leadership position in fully compliant white space wireless systems. It is a real pleasure to be working with one of the leading investors in wireless technology in Europe, DFJ Esprit.”
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, which is 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.
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