A developer of power amplifiers for mobile phone networks has raised £1 million in its first equity funding round.

A developer of power amplifiers for mobile phone networks has raised £1 million in its first equity funding round.

Mesuro, a spin-out from Cardiff University, secured £375,000 from Finance Wales, the investment arm of the Welsh Assembly, and the same amount from university investment group Fusion IP. The balance of £250,000 is from the ERA Foundation, an organisation which promotes innovation in electronics.

The money will be used to help complete development of Mesuro’s main product, which the company claims increases the energy efficiency of mobile communications networks, as well as the battery life of mobile phones.

Advisers on the deal were commercial due diligence firm Sagentia and intellectual property specialist IP Pragmatics.