Climate Change Capital Private Equity has led a £10 million fundraising for Nujira, a developer of technology to reduce power consumption in smartphones, to expand operations.
The €200 million London-based fund has joined as a new backer in the Cambridge business, committing £6 million of financing. The remaining finance was secured from existing investors Amadeus Capital Partners, NES Partners, Environmental Technologies Fund and a number of business angels.
Nujira aims to install its technology, which reduces power consumption between 30 per cent and 50 per cent, into 800 million mobile phones by 2016.
Nujira chief executive Tim Haynes says, ‘The funding will allow the expansion of Nujira’s handset engineering team to support product development and engagements with leading vendors in the global handset market.’
Hayes adds that the company has been robust in protecting its intellectual property and has built an ‘extensive and complete portfolio’ of filed and granted patents for its technology. It has recently announced its 100th patent application.
Founded in 2002, the company works with RF subsystem vendors to enable the design of cost-effective handsets with an extended battery life. In February 2011, Nujira announced a second generation handset test chip at the Mobile World Congress in Barcelona.
As part of the deal, Climate Change Capital’s director James Hook will join the Nujira board. The financing is the fund’s ninth investment. The group, which is part of global Climate Change Capital, invests in companies, projects and services that contribute to climate change mitigation or adaptation.
Hooks comments, ‘Nujira’s technology has a compelling business case coupled with very attractive environmental attributes – a rare and exciting combination.’