Neul Scores $12.8M from DFJ Esprit

Neul, the UK-based company offering products and services for the emerging TV white space spectrum, has raised nearly $13 million from a group of investors. Firms investing in Neul include European venture capital firm DFJ Esprit, IQ Capital and Cambridge Angels.

PRESS RELEASE:

Neul raises $12.8m (£8.0m) from DFJ Esprit led syndicate to occupy TV white space

Helping to underpin several wireless data trials already underway, including the trial announced on 27th June 2011 by the ‘Cambridge Consortium’ of the BBC, BSkyB, BT, Cambridge Consultants, Microsoft, Neul, Nokia, Samsung, Spectrum Bridge and TTP, of how unused TV spectrum- TV white spaces -could help satisfy the escalating demand for wireless internet connectivity

Cambridge, UK, 29thJune 2011: Neul, a company offering products and services for the globally emerging TV white space spectrum, today announced it has raised $12.8million (£8.0m) from a syndicate of investors led by European venture capital firm DFJ Esprit and including IQ Capital and Cambridge Angels. The founders and employees have also made a significant contribution.

Neul will unify the fragmented world of Machine-to-Machine (M2M) communications, with the world’s first white space radio system and a new, open M2M communications standard,re-defining wireless data communications.Neul will shortly launch the new standard called “Weightless”.

Neul’s white space wireless technology willenable a range of services and applicationsfrom the predicted 50 billion connected Machine-to-Machine (M2M) devices, through smart metering to local broadband delivery, transportation and personal health devices.

Neul Chief Executive James Collier said, “This investment will allow Neul to further expand its leadership position in fully compliant white space wireless systems. It is a real pleasure to be working with one of the leading investors in wireless technology in Europe, DFJ Esprit.”

Simon Cook, CEO DFJ Esprit, said, “Having worked with the founders in their last venture, I am excited to be working again with the team that have pioneered game changing wireless technology in Europe. They have an exciting vision, and with endless applications of the Neul network it will truly set a new standard for wireless communications.”

Phil O’Donovan of the Cambridge Angels and lead angel for the angel group added “We also are delighted to invest in this significant new global wireless opportunity being enabled by the very well positioned Neul team”.

Neul announced its first product on 13th June 2011, NeulNET, whichis the first radio system specifically designed for TV white space that meets all FCC/Ofcom regulations. This allows networks to operate safely & legally within TV white space.

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About Neul

The name Neul is pronounced like ‘fuel’ and is from the Gaelic word for ‘Cloud’.

Neul was formed in Cambridge, UK in 2010 by a group of entrepreneurs with an impressive track record. The core management team was responsible for building Europe’s most successful fabless semiconductor company, CSR.

Neul aims to unify the fragmented world of Machine-to-Machine (M2M) communications, with the world’s first white space radio system and a new, open M2M communications standard.

Neul is transforming wireless data communications by helping to slash the cost of the spectrum access, and enabling the very low cost base stations and the terminals needed to set up wide area wireless networks. This will enable Neul’s customers to build networks and applications that offer completely new kinds of devices, services and business models.

Neul’s vision is to bring about a revolution in the way devices and applications communicate. From the predicted 50 billion connected Machine-to-Machine (M2M) devices, through smart metering to local broadband delivery, transportation and beyond , Neul is helping to create ‘the internet of everything’.

For more information: http://www.neul.com/

About DFJ Esprit

DFJ Esprit is a leading cross-stage venture capital firm that invests in European technology companies. Members of the DFJ Esprit team have been active in technology investing for three decades. They have experience of investing in over 200 companies, generating strong returns for investors through building valuable global companies alongside founders and management teams.

The DFJ Esprit partners have invested and helped build many of Europe’s most successful venture companies of recent years, including LOVEFiLM, Apatech, Buy.at, Alphamosaic, KVS, CSR, Blackspider and Domantis. DFJ Esprit is the exclusive European partner for Silicon Valley based Draper Fisher Jurvetson (DFJ) Global Network of venture funds. DFJ Esprit invests across Europe and has partners located in London, Cambridge, Dublin, Helsinki and Paris. For more information: http://www.dfjesprit.com/home