GENESIS TECHNICAL SYSTEMS ATTRACTS NEW INVESTMENT FUNDING FROM HARWELL CAPITAL
£1.2 Million capital boost helps with commercialisation of mBond™ and DSLRings® technologies for superfast broadband
Coventry-based Genesis Technical Systems, a provider of superfast broadband over copper, has attracted over £1.2 Million ($2 Million CDN) investment from venture capital firm Harwell Capital. Harwell invests in companies developing technology solutions for everyday business and consumer challenges.
Genesis, whose team is quickly becoming known as the ‘Copper Revolutionists,’ was selected by Harwell Capital for investment, in recognition of the potential of the ground-breaking broadband technologies it is currently developing.
New investment will enable Genesis to bring mBond and DSL Rings to market. mBond, which has delivered over 100 Mb/s over 1 mile in Telco field trials, is for mobile operators wanting to rapidly supercharge their existing backhaul. DSL Rings, capable of delivering up to 400 Mb/s fixed line broadband, is for fixed line operators wanting a cost-effective technology to deliver superfast broadband at a fraction of the cost of other solutions.
“This landmark investment from Harwell Capital is a great confidence boost at a critical moment in our company strategy. It means we can accelerate our efforts from the innovation and development phase into full commercialisation,” said Nigel Hall, CEO Genesis Technical Systems. “Both mBond and DSL Rings are generating market attention and provide real and exciting alternatives to the high-cost migration to fibre. We have completed trials in Asia and Europe with excellent feedback and first orders are expected in the summer!”
Harwell Capital was established to offer private clients the opportunity to invest in privately held technology companies at lower levels than offered by private equity funds, allowing investors to build their own technology portfolio with the potential to deliver superior returns and capital growth. Harwell Capital believes that innovation and new technology will be a major driver of growth, and can deliver an excellent performance for investors.
“Genesis Technical Systems has already attracted interest from telecoms operators all over the world. Our investment will help them move quickly to the next stage of their very exciting journey,” said Rupert Gladitz, Chief Executive at Harwell Capital.
As well as attracting top quality staff and landmark funding, Genesis is being recognised by the Telco industry, consistently being nominated for and winning a number of awards. In 2012 Genesis won the Fierce Telecom Last Mile Innovation Award for its DSL Rings, and last year Genesis was shortlisted for two SPIFFY awards, and also for the Total Telecom Innovation Award, one of the World Communication Awards.