East-Midlands-based Sarantel designs, manufactures and sells patented ceramic, filtering antennas for use in portable wireless devices using GPS, Wi-Fi, 3G and the like.
The company believes that the performance of conventional antenna is adversely affected by proximity to the human body. Its technology aims to counteract this with the beneficial effect of prolonging a device’s battery life and significantly reducing the amount of heat absorbed by the head.
Started in 2000 by Dr Oliver Leisten, now chief technology officer, Sarantel has been funded at various points by 3i, Foresight and MTI Partners to the tune of £14 million. MTI partner David Ward is a non-exec of the company.
David Wither, CEO, commented, ‘Sarantel is enjoying unprecedented demand and the AIM flotation will help us increase our capacity to take advantage of this market opportunity.’
The £15 million placing will be advised by Arbuthnot Securities and will value Sarantel at £40 million on debut. The proceeds will be used to further increase manufacturing capacity and fit out a second production facility to meet demand.