The new funding round involves existing investors Madeus Capital Partners, Cisco, Intel Capital, Qualcomm, Rothschild & Cie Gestion, Scottish Equity Partners and TE Connectivity. The new investor wishes to remain anonymous.

The capital will be invested in new product development and further global expansion.

CEO Simon Brown says the market for femtocells, which allow mobile network operators to extend coverage indoors, is growing.

Adds Brown, ‘We are delighted with this show of support from our investor partners.’

ip.access’s technology is used in 60 countries and more than 500,000 of its products have been deployed to date.

David Chambers, telecoms expert at Think Femtocell says: ‘With the high forecast demand for femtocells in the future, this pioneering company is surely well placed to expand its footprint.’