The UK-based company will use the money for accelerating sales and product development.

YFM Equity Partners, through the Chandos Fund and British Smaller Companies VCTs, are joining existing investors that include Oxford Capital Partners, MTI Partners, OCP Angels and some private investors in the deal.

Co-founded by former Motorola R&D engineering manager, Pete Bishop, PowerOasis provides mobile network operators with power saving equipment.

The University of Bath Innovation Centre has supported the company since its formation and the not-for-profit government organisation, Carbon Trust contributes to its research and development programme. It has offices in the UK and Singapore and serves customers across the world.

Julian Dennard, investment director at YFM Equity Partners, comments, ‘We have closely followed PowerOasis from 2008. To my mind it has now grown and developed to be one of Britain’s finest small companies and we are delighted that it has now reached the stage where YFM Equity Partners’ funds can help to accelerate its growth.’

YFM, which has a current portfolio of over 200 UK companies, manages a number of investment funds and invests between £100,000 and £10 million of equity. This particular investment was made through three of their managed funds.