Microdata Telecom Innovation is raising SEK10m from venture capital firm InnovationsKapital and existing shareholders through an equity issuance.
Microdata Telecom is currently expanding internationally to address a rapidly growing global market for Microdata Advanced Site Solutions in the mobile infrastructure market.
"Through this equity infusion, we are able to further expand our marketing and sales internationally with our portfolio of state of the art radio products within advanced site solutions," says Mats Gustavsson, chief executive and co-founder of Microdata. "We believe that InnovationsKapital will be a valuable partner as we grow the company."
"Microdata is led by an impressive team with solid experience both from the industry and from building companies," says Martin Falkevall (pictured) from InnovationsKapital. "We have been impressed by their early customer traction and are looking forward to an exciting journey together with the company in the coming years."
Microdata Telecom Innovation offers radio solutions to OEMs and network operators in order to improve radio coverage, capacity and quality of mobile communications. The company has offices in Täby, Sweden and in India.
