MMIC Solutions Secures £2.7M A Round Funding

16.05.2008 17:05:00

MMIC Solutions Ltd, the Ledbury, UK based supplier of innovative
module and subsystem solutions for commercial millimetre wave applications has
secured a further £2.7M in A Round funding. New investor YFM Group and existing
investor Scottish Enterprise investing through the Scottish Venture Fund, joined the
round along with the company’s other existing investors, including NESTA and AEGF.

Having raised seed funding of more than £1.5M so far, the company has already
developed and sold 94GHz receivers to a number of manufacturers of millimetre wave
security imaging systems. The ability to use millimetre waves to detect non-metallic
materials concealed about the body including weapons, explosives, and illegal goods is
generating a lot of interest, with systems being deployed at many commercial and civic
infrastructure locations, and at airports in the US and Europe.

The company is also developing low cost modules for high capacity
communications applications. These links support data rates of 1Gbit/sec and more, and
operate in various unlicensed and ‘light-licensed’ bands between 60 and 80GHz.

Rodger Sykes, CEO of MMIC Solutions, commented “We are very pleased by the
investment community’s interest in MMIC Solutions, and the continuing confidence
shown by our existing investors. The demand for our innovative technology continues to
grow in applications such as weapons detection and high bandwidth communications,
and this significant investment allows us to expand our team and production capabilities
to address the many opportunities our customers are presenting to us.”

Julian Dennard, Senior Investment Manager of YFM Group commented; "MMIC
Solutions’ unique capabilities are enabling new solutions to directly address global
trends in security, weapon detection, and escalating wireless bandwidth needs. We are
pleased to be a part of their growth to exploit these opportunities.”

Jonathan Lloyd-Hirst, Investment Manager for the Scottish Venture Fund,
added; ”By establishing its UK production operations in Scotland, MMIC Solutions joins
the growing number of cutting edge technology companies choosing Scotland as their
base. Innovative companies such as MMIC Solutions demonstrate the high calibre of
investment opportunities for our investment partners.”

Client name: YFM Group

Business type: B2B

Author: Hannah Roberts

Contact author: hannah@montagecomms.com

Web link: http://www.yfmgroup.co.uk