Microdata Telecom Innovation AB, a Täby, Sweden and India-based provider of radio solutions, is raising SEK10m (approximately €960.000) from venture capital firm InnovationsKapital and existing shareholders.
Microdata provides radio solutions to OEMs and Network Operators, in order to improve radio coverage, capacity and quality of mobile communications. The company will use the funds to expand internationally in the mobile infrastructure market.
Commenting on the round of financing, Mats Gustavsson, CEO and co-founder of the company, was reported to say: “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.
“We believe that InnovationsKapital will be a valuable partner as we grow the company”, he added.