Mills & Reeve advise Birmingham technology business on its £1.5m fundraising
Leading national law firm Mills & Reeve has advised Smart Antenna Technologies (SAT) on its fundraising of up to £1.5 million.
SAT, a spin-out from the University of Birmingham, has developed and patented pioneering smart antenna technology. The single antenna system solution is a flexible and compact design that can replace all existing antennas and is highly cost effective. The system has been specifically developed for devices with multiple wireless data connections, including smart phones, tablets and laptops.
SAT’s low cost solution reduces size while increasing frequency range and represents real performance gains over existing technology. The global antenna market is predicted to grow to be worth $19.9 billion by 2019. Mercia Technologies, a Midlands based investment group that builds and funds technology businesses across the country, led the investment round, putting in a total of £1.2 million.
SAT will use the investment for further technology development alongside its ongoing discussions with several major mobile and laptop partners.
Mills & Reeve advised SAT on the investment and the team included partner Zickie Lim and principal associate Pippa Pearce.
Zickie said: “We’re delighted to have been able to help this exciting business secure this vital funding. The global devices market is expanding and developing at such a fast pace and ground-breaking enhancements like that of Smart Antenna’s are instrumental in enabling the key players to keep ahead of their competitors in maintaining and growing their market shares. We’re also thrilled to play a part in enabling exciting ideas and innovation coming out of the Midlands region to have impact on an international scale.”