Mesuro, the Cardiff University spin-out that offers testing and services solutions for the semiconductor industry, has announced completion of a £700k funding round to expand its overseas sales and device characterisation capabilities.
The funds will enable the business to increase its capacity to handle enhanced levels of sales activity being experienced by the company in both its systems sales and consultancy services. Sales of over £800k have been delivered to customers in the first half of the year, including the company's first sale to Japan, a key milestone for the company.
This funding round also allows Mesuro to expand its measurement services laboratory systems, offering a more comprehensive service to its device characterisation customers. The system expansion will allow the company to provide device testing at CW (continuous waveform) powers of up to 100 W to 4 GHz fundamental with harmonic control to 12 GHz, covering the major wireless communications bands, including those for the ‘Long Term Evolution’ LTE standard, and provide on-wafer capability to 50 GHz, which will provide its aerospace- and defence-related customers with enhanced capabilities.
The improved load-pull facilities will utilise the company’s open loop active harmonic and WaveForm Engineering technology offering its customers the opportunity to obtain the data required for improved amplifier designs. The systems will also be capable of extracting the ‘Cardiff behavioural Model’ formulations, suitable for use within the CAD environments employed by many designers.
Richard Emsley, CEO of Mesuro, commented, “These funds will enable Mesuro to capitalise on the huge level of interest being shown in Mesuro’s WaveForm engineering approach, which enables device manufacturers to obtain the very highest performance from their designs, maximise their efficiency, reduce power consumption and improve time-to-market. We look forward to accelerating the growth of the company over the next 12 months.”
David Baynes, CEO of Fusion IP plc (AIM: FIP), the university IP commercialisation company that turns world class research into business, commented, “The Mesuro sales are extremely encouraging and these funds should enable the company to convert its highly promising pipeline in the coming year."
Ann Casey, Investment Executive Finance Wales, commented, "Mesuro has made excellent progress in developing and commercialising its testing equipment. It is clearly focused on its market and already achieving creditable sales levels. We are pleased to participate in this funding round as it will give Mesuro the capital it needs to expand into new markets and we look forward to seeing even greater sales revenues."