Calculus is itself putting up £2.4 million (about $3.1 million) and the investment follows on from ARM Ltd., the UK semiconductor IP company that was acquired in 2016 by Japan’s SoftBank Group (see ARM leads £10 million funding of 60GHz pioneer). This makes the Calculus led round the second in 2017.
The latest round will enable Blu Wireless Technology to grow its software design and development team and recruit additional sales and marketing people, Calculus said.
“The strength of Blu Wireless technology – and its great future potential – has been underlined and enhanced by the long-term strategic investment by ARM, the UK’s most successful tech firm. We are delighted to be investing alongside ARM and the other investors involved in this fundraising,” said John Glencross, Chief Executive of Calculus Capital, in a statement.
Blu Wireless, which was founded in 2009, currently employs around 60 people in Bristol, as well as staff in sales offices in North America, China and Japan.
Related links and articles: