Neul Raises 12.8 Million In First Round Of Funding

UK start-up Neul has raised more than $12 million in a Series A round of funding led by DFJ Espirit, funds that will be used by the company to boost its efforts in coming up with services for the white spectrum.

Neul is currently working to develop products and services that will exploit TV white space freed up during the transition from analog TV to digital TV and will be focusing on Machine to Machine (M2M) communications by developing the world's first white space radio system and a new M2M communications standards called Weightless, which will be launched soon .

“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,” said Neul Chief Executive James Collier on PE Hub.

The Series A round of funding also involved IQ Capital and Cambridge Angels as investors in the start-up.

The company is also a part of a consortium comprising BBC, BSkyB, BT, Cambridge Consultants, Microsoft, Nokia, Samsung, Spectrum Bridge and TTP, which is currently conducting tests on how to use TV white space for internet connectivity.