Socowave Closes €3M Financing with Balderton Capital

Socowave, a Dublin, Eire -based developer of advanced wireless access systems for mobile communications, has closed a €3m Series A financing round with Balderton Capital.
The funding will enable the company to accelerate the development of its technology that increases the data handling capacity of cellular radio infrastructure whilst reducing the energy consumption.
Socowave’s Active Antenna System technology allows cellular base stations to detect the direction of incoming signals from user groups and to actively optimise the radio link using digital techniques. According to the company, it increases wireless data handling capacity five-fold, while reducing the energy consumption of the overall base station system by 50% through, eliminating inefficient base station components and locating certain elements inside the antenna housing.
In conjunction with the funding, Barry Maloney, Partner at Balderton Capital, will join Socowave’s board.
Headquartered in NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin, Socowave has an R&D centre in the National Software Centre, Cork.
The company was founded by Joe Moore, who is also chairman of WirelessLAB, a new wireless cluster based in Ireland, whose members range from start-ups to established organisations.

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