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MMIC Solutions secures £1M Seed Round Funding

Malvern UK. 31st October 2006. MMIC Solutions Ltd. a supplier of innovative solutions for commercial millimeter wave applications has secured £1M in its first full funding round. Business angels who also previously provided seed funding joined contributions from Scottish Enterprise, NESTA, and the Advantage Early Stage Growth Fund. The new funding will support the growth of the company’s development team and business development activities.

President and CEO Rodger Sykes commented "We are very excited about the opportunities we are seeing for our technologies and capabilities and of course delighted by the confidence demonstrated by our investors. We need to expand our business development team to address the possibilities before us, and bring on additional engineers to develop the products to meet those needs.”

Libby Kinsey of NESTA said "MMIC Solutions is making excellent progress in addressing their target markets, and we are very pleased to invest in a company that will change the face of the millimeter wave industry. MMIC Solutions stands to benefit from a number of important global trends such as the exploding demand for bandwidth, and the increased global emphasis on safety and security."

This round builds on the company’s previous seed funding and brings the total raised to £1.5M. “This is a significant boost for MMIC Solutions” added Rodger Sykes, "It will allow us to exploit our technology lead by engaging and delivering products to the industry’s leading equipment makers."

About MMIC Solutions:
MMIC Solutions Ltd. is fast becoming a global leader in the millimeter wave industry, developing solutions for equipment makers in several markets including security imaging, high bandwidth communications, and high-resolution radar. The company designs, manufactures, and supplies innovative solutions for a range of systems operating at frequencies between 50GHz and 250GHz, using innovative technology licensed from QinetiQ. For more information about MMIC Solutions Ltd, please visit http://www.mmicsolutions.com




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News MMIC Solutions secures £1M Seed Round Funding Malvern UK. 31st October 2006. MMIC Solutions Ltd. a supplier of innovative solutions for commercial millimeter wave applications has secured £1M in its first full funding round. Business angels who also previously provided seed funding joined contributions from Scottish Enterprise, NESTA, and the Advantage Early Stage Growth Fund. The new funding will support the growth of the company’s development team and business development activities. President and CEO Rodger Sykes commented "We are very excited about the opportunities we are seeing for our technologies and capabilities and of course delighted by the confidence demonstrated by our investors. We need to expand our business development team to address the possibilities before us, and bring on additional engineers to develop the products to meet those needs.” Libby Kinsey of NESTA said "MMIC Solutions is making excellent progress in addressing their target markets, and we are very pleased to invest in a company that will change the face of the millimeter wave industry. MMIC Solutions stands to benefit from a number of important global trends such as the exploding demand for bandwidth, and the increased global emphasis on safety and security." This round builds on the company’s previous seed funding and brings the total raised to £1.5M. “This is a significant boost for MMIC Solutions” added Rodger Sykes, "It will allow us to exploit our technology lead by engaging and delivering products to the industry’s leading equipment makers." About MMIC Solutions: MMIC Solutions Ltd. is fast becoming a global leader in the millimeter wave industry, developing solutions for equipment makers in several markets including security imaging, high bandwidth communications, and high-resolution radar. The company designs, manufactures, and supplies innovative solutions for a range of systems operating at frequencies between 50GHz and 250GHz, using innovative technology licensed from QinetiQ. For more information about MMIC Solutions Ltd, please visit http://www.mmicsolutions.com