Blu Wireless raises £12.7 million Series B investment from ARM and others for 5G rollout

mmWave System IP specialist Blu Wireless has raised £12.7m ($16.6m) in a growth funding round led by existing investors Arm, Calculus Capital, Kendall and MGL, and including major new investor Guinness Asset Management. The investment will be used to scale the worldwide deployment of devices exploiting Blu Wireless’s HYDRA mmWave technology across a range of 5G applications.

Blu Wireless is already working with tier-1 telecoms infrastructure providers and leading semiconductor companies in the US, Japan, the UK and mainland Europe as they look to deploy HYDRA based devices within applications demanding 5G levels of bandwidth and low latency connectivity. Ready to be integrated within 5G software defined ‘network of networks’ Blu Wireless’s carrier-grade mmWave technology has been designed for the key markets of 5G telecoms infrastructure, Industry 4.0 and high-speed transportation.

Recently, Blu Wireless announced a supplier partnership with leading international railway operator FirstGroup to deliver 5G track-to-train infrastructure in the UK. The partnership deal will enable rail operators to cost effectively address passengers’ future demands for super-fast and reliable onboard Wi-Fi connectivity.

Blu Wireless is a specialist provider of carrier grade connectivity using unlicensed spectrum to deliver multi-gigabit, fibre-level connectivity that is cost-efficient, low power and reliable. By leveraging the full 14 GHz of spectrum available in the 57-71 GHz band, the company is able to significantly lower barriers to entry for 5G applications for stakeholders, opening up new commercial opportunities and greatly accelerating deployment.

Blu Wireless CEO, Henry Nurser, said: “The strong financial foundation that our investors are giving us will be crucial to our ability to work with our partners to deliver large scale mmWave 5G deployments across a number of key markets. Working closely with our partners and their customers, we are seeing a diverse and growing range of emerging applications for our technology – whether it be for drone-to-drone communications or private enterprise networks. We’d like to thank all our shareholders for their continued support at this pivotal commercialisation phase.”

Noel Hurley, VP Strategy at Arm commented: “Blu Wireless’s mmWave technology offers an agility that will help drive the future of 5G connectivity. With their deep expertise and a proven track record, they continue to be an exceptional partner to Arm.”

Alexander Crawford, co-Head of Investments at Calculus Capital, stated: “Blu Wireless is establishing itself as a world leader in enabling multi-gigabit mmWave connectivity. We are very excited about the opportunities and prospects ahead for the company and the management team.”

Shane Gallwey, Fund Manager at Guinness Asset Management said: “We’re delighted to be backing Blu Wireless. We can clearly see the technology’s potential for existing and future applications in 5G. It was a straightforward decision for us to invest.”

To allow Blu Wireless to serve their growing international customer base and deliver commercial mmWave deployments worldwide, while continuing to drive the advancement of 5G technology, the company will be scaling their sales, software and customer applications support teams.

Wazoku raises £2.5 million led by Calculus Capital

London-based SaaS eyes global expansion and product enhancement, as demand for idea management set to reach £1.17bn by 2022.

London, United Kingdom. 2 May 2019 – Idea management firm Wazoku has announced that it has raised £2.5M, led by Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist, Calculus Capital and backed by existing investors. With the funding, Wazoku intends to continue its recent global expansion, further refine and improve its technology and to make good on its core objective, to ‘change the world one idea at a time’.

The past 12 months has seen Wazoku add major new customers all over the world, including a significant win in late 2018 to supply its services to the UK Ministry of Defence (MoD). Wazoku also achieved more than 50% year-on-year revenue growth last financial year. Tech Nation named Wazoku one of the UK’s 30 leading tech scaleups in Upscale 4.0.

This latest investment, which brings the total amount raised by Wazoku to £6.1M, is both a recognition of that growth, and also the increasing size and potential of the global idea management market. Recent Markets and Markets research has forecast that to reach £1.17bn in 2022, a compound annual growth rate of 29.2%.

“It really feels like the time is now for idea management and we want to be the company leading the market as it grows, matures and becomes even more mainstream,” said Simon Hill, CEO, Wazoku. “All organisations need to innovate, solve problems and generate new ideas to meet their objectives. Engaging with, and crowdsourcing ideas from different groups provides an exciting opportunity to radically rethink the way organisations collaborate and innovate.”

“The funding from Calculus will enable Wazoku to further expand our reach by investing to strengthen our sales and marketing capability. It will also allow us to continue to deliver a market leading product through further investment in product development and data science capability.”

Alexander Crawford, Co-Head of New Investments at Calculus Capital, said: “Innovation starts with an idea to solve a problem or improve a process. These ideas need to be captured, collated, analysed and successfully implemented. Wazoku helps organisations do this very effectively, transforming raw ideas into actionable innovation.”

“The company is a leader in a high-growth business area and already has an impressive roster of clients. Our investment will help them move into the next stage of their growth story.”

Wazoku’s core platform, Idea Spotlight, is used by businesses such as John Lewis & Partners, HSBC and Aviva, to uncover opportunities, highlight areas for business improvement and drive significant savings or boost revenues. It is used to capture, evaluate, improve and implement ideas from across any audience, whether that’s employees, customers, partners, the general public or another group of stakeholders altogether, to embed innovation led change or transformation as a core, strategic, everyday capability.

Hill commented: “The past 12 months have been a period of sustained and strong growth for Wazoku and I am hugely optimistic about this next phase for the business. Our market is showing strong growth globally and Wazoku is growing even faster. We have continued to deliver against our global ambitions with key client wins across Europe, APAC, North America, LatAm and Africa. I am particularly excited by our expansion into Germany and the Nordics, where we have signed a number of key strategic partnerships and are already starting to see strong growth.”

In 2018, Wazoku signed a strategic reseller agreement with Sopra Steria ISS in Germany, who delivered Die Alter Leipziger, one of the oldest insurance companies in Germany, as a new Wazoku client in 2018 and have a very strong pipeline of opportunity for the rest of 2019.

As an innovation company, Wazoku continues to invest significantly in R&D, to ensure product development continues to drive the market forward and maintain product differentiation for Wazoku’s core product, Idea Spotlight. In 2018, Wazoku launched Spotlight.AI, which is based on proprietary Machine Learning and Natural Language Processing, to connect people, ideas and problems. Spotlight.AI achieves this by highlighting key relationships between content, promoting transparency, engagement and visibility.

The success of the product continues to be evidenced through its long-standing and broad reaching customer roster, noteworthy successes include:

  • Sopra Steria Connected Limited (SSCL)
    • Thanks to its work with Wazoku SSCL was awarded ‘Best Business Transformation Strategy’ at the Engage Awards 2018 and the ‘People and Organisation’ category at Ideas UK ‘Idea of the Year’ competition. The firm has engaged more than 67% of its workforce in its ideas scheme and generated 400% ROI in its first year alone.
  • Direct Line Group
    • 2018 saw Direct Line Group recognised as a leader in garnering employee ideas, being awarded ‘Best Use of Innovation in Employee Engagement at the 2018 Engage Awards.
    • Direct Line’s Idea Lab has now engaged more 11,000 staff and generated Direct Line Group £3.5 million in savings, making it one of Wazoku’s most successful customers.
  • Waitrose
    • In early 2019 the supermarket chain renewed its contract with Wazoku, expanding its use within 350 stores to run a number of focused campaigns in areas such as IT. Since 2015, Waitrose has engaged more than 60,000 employees in its Partner Ideas scheme and driven £millions of benefit to the business.

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For further information about Wazoku, please visit https://www.wazoku.com

PR Contact:
Paul Allen – Rise PR
07515 199 487 / paul@risepr.co.uk

Calculus Capital invests £2.5 m in Essentia Analytics

London, 23rd January 2019:

Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist Calculus Capitalhas invested £2.5m in fintech company Essentia Analytics, a leading provider of behavioural data analytics and consulting for professional investors. The investment by Calculus will be used to further develop Essentia’s services as it scales its client base of investment management institutions around the world.

The firm’s Essentia Insight service – which is used by clients including active fund managers, chief investment officers, asset allocators and wealth managers – provides a continuous data-driven feedback loop, similar to those used by athletes.

To date, Essentia has helped clients managing more than £30 billion in aggregate assets uncover an average of 94 basis points per annum of extra “behavioural alpha” through its proprietary process and technology.

The technology, which has a significant machine learning component, looks at all of an investor’s past trading decisions and rapidly identifies statistically-significant patterns of behaviour that have impacted performance in the past. Essentia then helps the investor realise that additional performance through a combination of regular face-to-face sessions with one of Essentia’s team of Insight Partners, all of whom are former portfolio managers, and automated, tailored ‘nudge’ notifications.

With offices in London and New York, Essentia was founded by CEO Clare Flynn Levy, who formerly ran pension funds for Deutsche Asset Management and founded a hedge fund business.

Flynn Levy said: “We are delighted to have Calculus on board. Their investment and expertise come at a hugely important time for us. Asset managers face increasing pressure to prove their alpha-generating skill and improve performance, which provides a significant opportunity for us to continue growing and developing our service. We are very much looking forward to working closely with Calculus to achieve our mission of helping human investors make measurably better decisions.”

Alexandra Lindsay, investment director at Calculus Capital, who has been appointed to Essentia’s Board of Directors, said: “The team at Essentia have a wealth of experience in the worlds of investment, technology and behavioural science and that knowledge is reflected in the quality of their service.

“Their combination of innovative behavioural analytics, automated ‘nudges’ and face-to-face consulting helps asset managers to make measurably better investment decisions.

“That’s an attractive proposition and we believe that Essentia is a company with very strong growth potential.”

Essentia Analytics was advised by PwC and White Horse Capital and was part of their first Series A Raise accelerator programme.

About Calculus Capital

Calculus Capital is a specialist in creating and managing private equity funds for individuals. A pioneer in the Enterprise Investment Scheme (EIS) space, Calculus launched the UK’s first HMRC-approved EIS fund in 1999 and has gone on to launch a further 19 EIS funds and five VCT share issues to date. Calculus seeks capital appreciation from dynamic, established, private UK companies across a multitude of sectors. Calculus prefers to invest £2m-£5m per company. As at 5th April 2018 it had £169m of funds under management of which 95% is in EIS.

Calculus Capital’s experienced investment team, diligent investment process and ‘hands on’ approach have resulted in an impressive track record of investment success. Calculus has earned multiple awards, most recently being named ‘Best EIS Investment Manager’ at the Growth Investor Awards 2018, an award it also won in 2016. In addition, the company won the EIS Association’s ‘Fund Manager of the Year’ Award in 2016, 2015, 2014, 2011 and 2009. Calculus also won the award for Best Generalist EIS at the Tax Efficiency Awards in 2017.

Calculus Capital is authorised and regulated by the Financial Conduct Authority.

www.calculuscapital.com

About Essentia Analytics

Essentia Analytics is a leading provider of behavioural data analytics and consulting for professional investors. Led by a team comprised of experts in investment management, technology and behavioural science, Essentia combines next-generation data analytics technology with human coaching to help active fund managers measurably improve investment decision-making. Founded in 2013, the firm has repeatedly been recognised as a leading FinTech provider by financial technology and investment industry publications and associations. Essentia is headquartered in London and has an office in New York City. For more information, visit www.essentia-analytics.com.

Notes to Editors

For more information contact Madeleine Ingram, Calculus’s Head of Marketing and Investor Relations, on 0207 518 8058 or madeleine@calculuscapital.com

Or, Malcolm Jones at Bulletin PR on 0115 907 8412 or malcolm.jones@bulletin.co.uk

For Essentia: Suzanne Hallberg, Zip Communications, 00-1-212-787-0169 or shallberg@zip-comm.com