CCS raises over $10m to underpin further growth
Cambridge Communication Systems (CCS) has raised more than $10 million to back continued expansion in its technology and territories covered.
The strategic funding round includes support from existing investors Cambridge Angels, ADTRAN and Etagra Group, plus a new partnership with UK deep-tech venture capital fund IQ Capital.
It is believed Alabama-based commstech business ADTRAN invested around $5m. CCS says the cash will accelerate development of its next-generation access and backhaul solution suite.
CCS Executive chairman, Martin Harriman said: “We are delighted to welcome existing investors to the next phase of our commercial story and to be formalising new stakeholder relationships.
“This major strategic investment will speed delivery of our next-generation product roadmap, and enable us to accelerate our ambitious market growth plans across key territories and target application areas, including gigabit FWA.”
This latest investment helps advance further development of CCS’s proven and innovative wireless access and backhaul portfolio. CCS’s Metnet 1200 mmWave solution in the licensed 24/26/28GHz bands – along with its next-generation Metnet 60G product in the unlicensed 60GHz mmWave bands – are being assessed and deployed in customer networks around the world.
Max Bautin, managing partner at IQ Capital said: “CCS is an exciting addition to our investment portfolio, having demonstrated the strategic value of its software defined network tech through its world-leading commercial deployments.
“CCS offers a unique solution for mobile operators and service providers, and is strategically well-placed to deliver the FWA access and backhaul connectivity that will drive the next generation of network densification and enable ubiquitous 5G services for mobile users globally.”
For the record, The IQ Capital team has achieved over 20 exits to date, to companies including Oracle, Google, Apple, Huawei and Facebook and several IPOs. It has led 28 investments over the last three years and will continue to actively invest from its new £125 million fund launched in 2018.