Femtocell manufacturer raises €7.74m in funding

UK based manufacturer of 3G femtocells, Ubiquisys, has secured €7.74  million in funding from existing shareholders to fund a range of global commercial opportunities.

While the company did not detail which of its investors were tipping in more cash, backers to date have included Accel Partners, Advent Venture Partners, Atlas Venture, T-Mobile Venture Fund and Google which provided €17.5 million in second round funding, two years ago.

Ubiquisys, founded in 2004, has already established commercial partnership deals with Nokia, Siemens and Netgear.

Earlier this year Softbank announced the world's first commercial 3G femtocell deployment using the Ubiquisys ZoneGate technology.

The latest round of funding comes as the femtocell industry is “about to enter a phase of aggressive growth," said Ubiquisys CEO Chris Gilbert.

"We have already seen the first major operator launches and the autumn will see a number of others unveiling their future plans. Securing this funding, against the current economic backdrop, underlines our investors' commitment to the company's technology and reaffirms our position as pioneers of the femtocell market," he added.

Gilbert estimates around 2,000-3,000 subscribers will soon be part of various soft launch phases with femtocells with various carriers. "We're developing and building resources and equipment to support these rollouts," he said.

He added that its latest femtocell device, smaller than an iPhone would be  ready for commercial production by February 2010.

The company also announced the appointment of Alison Sparshatt as CFO.

 

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