Business Weekly - Cambridge, UK

The latest backing came primarily from existing shareholders, including financial institutions and trade partners, in addition to a number of new blue-chip venture capitalists. The investment will be used to strengthen the company's balance sheet and to increase its sales, marketing and customer support reach into North America and Asia-Pacific.

By strengthening its balance sheet, Amino says it will meet the financial requirements that enable it to become an approved supplier to major telecoms companies worldwide.

The additional working capital will also help to support its substantial growth in sales, it says. The company reports a healthy order book for its range of Ethernet-based set-top boxes and gateways for the broadband and hospitality markets.

Stuart Darling, Amino's finance director said: “The funding round went very smoothly with approximately half of the additional investment coming from existing shareholders and half from new blue-chip venture capitalists.

“We believe the main attraction for investors is that we have such a healthy order book, having booked $8m in orders since June from a number of key reference customers throughout the Far East, North America and Europe.”

Amino is an electronic systems designer specialising in products for multimedia distribution such as on-line digital video and audio, as well as data reception.

Based in Swavesey, near Cambridge, the business was founded in 1997 and is privately held. Cambridge law firm, Hewitsons, acted for Amino.