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.

Imagen secures £6.5m in Series B funding round from Downing Ventures

London, January 21, 2019 – Imagen, the leading SaaS video management platform business, has secured £6.5 million in a Series B round. The company received funding from an investor pool led by Downing Ventures. The round also included capital from Guinness Asset Management Ltd and participation from existing investor, Cambridge Innovation Capital.

The investment represents a major milestone for the company, following significant growth in 2018 that saw Imagen post an 88% year on year revenue increase driven by clients including Formula One, The Premier LeagueWorld Tennis AssociationBPReutersBBC and IMG, part of Endeavor.

The investment follows a growth trajectory that has seen Imagen establish a significant foothold in the video management sector and become an essential piece of technology for sports, media and enterprise businesses looking to manage their expanding video and content libraries.

Charlie Horrell, CEO of Imagen, comments, “This funding is clear recognition of the value our partners and prospects see in the platform. We have a world class roster of clients across the sports, media and enterprise sectors and have a healthy pipeline going into 2019. We look forward to accelerating our global operations and are thrilled to be working with new investors to continue shaping the future of video management.”

Richard Lewis, Investment Director at Downing Ventures, added, “We are delighted to be backing Imagen and the exceptional management team that has developed a market leading video management platform. We are now focused on supporting Imagen’s exciting UK and international expansion plans.”
Victor Christou, CEO of Cambridge Innovation Capital, adds, “Imagen was one of the first companies into which CIC invested. It has made great progress since our initial investment, transforming itself into a globally leading SaaS video management platform with a greatly enhanced client list. We are delighted to continue to support the company as it expands from its UK base into international markets.”

Malcolm King, Fund Manager at Guinness Asset Management said, “Imagen is an acknowledged leader in video management with an enviable customer base. We are delighted to have completed our growth capital investment into the company and look forward to working with the Imagen team, CIC and Downing Ventures to help the company realise its international growth ambitions. The deal demonstrates our ongoing ability to source and deliver high quality investments for our EIS investors.”

Eddie Harding, Partner at ICON Corporate Finance who advised the company on the round, added, “I’m delighted to have helped Charlie and his team raise this funding from these three highly respected tech investors. The research shows that video continues to grow exponentially, and Imagen’s enterprise grade video management platform is ideally placed to meet the explosive demand of this sector.”

The funding will enable Imagen to expand its global operations and make significant inroads into the US and European markets. Imagen will be establishing a customer led sales and marketing presence in the US, as well as accelerating product development and the growth of its technology division.

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About Imagen

Imagen is an intuitive video management platform that enables sports organisations, media companies and enterprise sectors to intelligently manage their video content with enhanced functionality, control, and insight. Imagen is being used by global organisations to manage and distribute their expanding video and media libraries – enabling fast, easy, secure and controlled access to content through the highly customisable platform.

Imagen’s customers include Formula One, The Premier League, World Tennis Association, BP, Reuters, BBC and IMG, part of Endeavour. The secure platform is also used by the Ministry of Defence, and preserves archive collections for Imperial War Museums, the British Library and the BFI.

For more information visit www.imagenevp.com

About Downing Ventures

Downing Ventures is a London based evergreen fund investing in seed to series A (and beyond) companies, providing entrepreneurs with a ladder of funding. The fund has backed over 60 ambitious businesses (as at January 2019) across a variety of technology sectors including online marketplaces, enterprise software, and health technology.

About Guinness Asset Management

Guinness Asset Management provides a range of long only actively managed funds to individual and institutional investors. We also offer an Enterprise Investment Scheme (EIS service) investing in private growth stage and AIM-listed companies. Founded in 2003, Guinness is independent and is wholly owned by its employees. We believe in in-house research, intelligent screening for prioritisation of research and well-designed investment processes. We manage concentrated, high conviction portfolios, with low turnover and no benchmark constraints. Since our establishment we have developed a variety of specialisms in global growth and dividend funds, global sector funds and Asian regional and country funds.

For enquiries regarding Guinness EIS Service contact Shane Gallwey, Tel: +44 (0)20 7222 3475, Email: eis@guinnessfunds.com

About Cambridge Innovation Capital plc

CIC combines a unique relationship with the University of Cambridge with deep financial and industry links to support rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies, with the benefit of some of the most influential figures in the sector and a patient capital structure.

For more information please visit www.cicplc.co.uk or follow us on Twitter at @CambsInnovation

About ICON Corporate Finance

ICON Corporate Finance is a boutique investment bank which acts exclusively for technology companies. Its clients are changing the world and ICON helps them secure funding to build great companies and realise maximum value when they come to sell.

Draper & Dash, AI Healthcare Data and Analytics firm secures £3m venture funding from Guinness Asset Management

Draper & Dash, the healthcare focused data analytics platform that has changed how hospitals and care providers access, understand and work with patient data, has raised £3m in venture funding from Guinness’ EIS Funds.

The company’s SaaS-based analytics platform uses advanced data science and machine learning techniques to predict patient flow and demand for hospitals and care providers. The platform supports healthcare systems to improve patient flow, drive cost improvement programs, create new strategic partnerships and ultimately improve health outcomes.

Draper & Dash has already successfully deployed its software into over 20 public and private hospitals and healthcare providers in the UK, US and Australia including the Royal Free London, Guy’s & St Thomas’ NHS Trust and Royal Melbourne Health, delivering significant cost savings and operational efficiencies for its clients.

The new investment from Guinness Asset Management’s EIS Funds will allow Draper & Dash to continue to develop its product offering as well as grow its sales and marketing resource to expand into new territories. In 2019 the company plans to extend the capabilities of its industry-leading AI and ML integration for both its UK and international clients enabling even greater predictive analysis and personalised care for users.

Orlando Agrippa, Founder and CEO of Draper & Dash, said “our software platform business has been accelerating significant recently and so we are raising capital to scale the business through increased penetration of our existing customers and territories, as well as converting our expanding pipeline of new prospects. We have tripled our AI and ML investment over the last year through a number of long-term projects with existing customers.

Our strategy continues to focus on real value creation with better outcomes for healthcare providers and their patients. As outcomes, efficiency and patient flow becomes more of a challenge globally, I’m fortunate to lead a team of people who are all dedicated to advancing the capabilities of data analytics in healthcare and improving care delivery.”

John Spearman, Chairman of Draper & Dash, added: “This is an important step for D&D. The value and potential of the company has been recognised now, not just by enthusiastic early investors, but also by a highly respected and well known fund.”

Edward Guinness, Fund Manager at Guinness EIS Fund, commented “We look forward to working on building this business into a substantial contributor to service improvements for both public sector and private healthcare providers. We were impressed by Orlando’s team and have received positive feedback from customers on the Draper and Dash products. Draper & Dash have an attractive proposition that should be in more hospitals and healthcare providers and we hope that our funding will allow the company to extend its reach.

Eddie Harding, Partner at ICON Corporate Finance who advised management on the funding round, added “I’m delighted to have assisted Orlando and his team in raising this venture funding from Guinness. Draper & Dash’s analytics platform makes a real impact in driving efficiencies at healthcare providers globally, and most importantly improving patient outcomes.”