Octopus Ventures, an investor in early-stage and expanding companies, has announced an investment of circa GBP900,000 in Phasor Solutions.
Octopus Ventures, an investor in early-stage and expanding companies, has announced an investment of circa GBP900,000 in Phasor Solutions.
Formed in 2005, Phasor develops phased array antennae with multiple commercial uses, which include enabling moving host units, such as trains and airplanes, to deliver broadband internet access and high speed communications.
Additionally Phasor’s product range, which will be expanded to include radars, has numerous other applications in both the aerospace and military sectors.
This investment represents part of a GBP1.5m funding round. To date, Octopus has invested a total of around GBP1.5mn in Phasor.
The funds will be used for the further development of Phasor’s technology, enabling it to participate in an ‘on train’ trial, in addition to the expansion of the company’s sales and marketing functions.
Alex Macpherson, chief executive of Octopus Ventures, says: "Octopus Ventures is delighted to be supporting Phasor Solutions through its next stage of development. The Company’s innovative flat panel phased array antenna system has the potential to gain a significant share of the highly lucrative satellite antenna market given its unique price point and ability to deliver high levels of connectivity to end users.
‘We are pleased with the significant strides Phasor has made towards the commercialisation of its technology, which we believe will deliver significant returns for our investors.’
Henry Hyde-Thompson, chairman of Phasor Solutions, says: ‘Since Phasor’s formation in 2005, the Octopus team and its investor group have played a major role in the considerable progress we have made to date.
‘The level of support provided by Octopus goes beyond the provision of financing, and the access to industry contacts and expertise that Octopus provides will continue to play an integral part in the commercialisation of our flat panel phased array antennae, making them the logical partner for our business.’
The funding from Octopus has been provided by Octopus Titan VCT 1, 2 and 3, Octopus Eureka EIS and the Octopus Investor Group. Alliott Cole, investment manager, led the deal on behalf of Octopus Ventures.
