Ubiquisys Secures $12M Funding to Drive Commercialisation of Low-cost, Residential 3G Access Point
7th September 2006
Firm Receives First Round Venture Backing from Accel Partners, Advent Venture Partners and Atlas Venture
SWINDON, England – 7 September 2006 - UbiquiSys Ltd, the developer of ZoneGate™ mass-market wireless access point for the residential market, today announced it has secured first round investment totalling $12m. The capital will be used to support product commercialisation and marketing.
The ZoneGate system cracks the challenge of cost-effective 2G/3G roll-out by using advanced femtocell technology to provide high-quality, low-cost indoor coverage for consumers using existing GSM/UMTS handsets. The system comprises an access point installed in a user's home and a management system integrated with the mobile operator's core network.
“We are seeing strong interest in ZoneGate from both mobile operators and the industry as a whole,” said Chris Gilbert, CEO UbiquiSys. “The system delivers robust and reliable cellular coverage in the home at landline/VoIP rates, enabling mobile operators to compete effectively with fixed line and VoIP providers. We believe ZoneGate can help revitalise the 3G business model and play a significant role in driving premium service take-up”
“Cheap voice-calls using WiFi or Bluetooth require multi-mode handsets and create significant challenges in terms of phone usability, battery life and call quality,” said Kaj-Erik Relander, General Partner, Accel London. “The ZoneGate system allows operators to grow in-home revenues by offering competitive domestic pricing, while at the same time preserving the user-experience by allowing consumers to use everyday handsets.”
“Many mobile operators now believe femtocells represent the future of in-building coverage,” said Martin McNair, General Partner, Advent Venture Partners. “However, most available products are too costly for residential use and cannot be connected, provisioned and managed remotely over DSL or cable. UbiquiSys has combined RF and broadband expertise to create a compelling product, at a mass-market price point, that is in operator control at all times.”
“Spread spectrum UMTS networks using traditional outdoor cell-sites have struggled to deliver coverage in the home, where multimedia services are most often used,” said Graham O’Keeffe, Senior Partner, of Atlas Venture. “ZoneGate is an elegant solution that provides seamless residential coverage from the inside out. In addition, with the very low transmitted power levels needed talk-time is 100 per cent greater.”
Ubiquisys is a privately owned communications company formed in 2004 to bring the groundbreaking ZoneGate femtocell technology to market. The ZoneGate access point is a small plug-and-play device that simply and seamlessly connects to a user's broadband gateway. The product integrates seamlessly with the operator’s core network using a range of standards including Iub, UMA and IMS, and can be remotely managed and updated. The system enables mobile operators to extend 2G and 3G coverage in an extremely targeted way, reduce deployment costs, generate new revenue streams and speed up fixed-mobile substitution. For more information, visit www.ubiquisys.com
About Accel Partners
Founded in 1983, Accel Partners has a long legacy of excellence and innovation in the venture capital business. The firm is dedicated to partnering with outstanding entrepreneurs to build world-class Internet, software and networking companies. Accel Partners has more than $4bn under management from its offices in Palo Alto and London, and its portfolio companies have completed IPOs that have created well over $150 billion in market capitalisation. Representative current and former investments include Veritas Software, RealNetworks, UUNet, Macromedia, PictureTel, Foundry Networks, and Walmart.com.
For more information visit the Accel Partners web site at www.accel.com or for media information contact:
Eleanor Jones (00) +44 207 025 6570 email@example.com
About Advent Venture Partners
Advent Venture Partners is one of the most experienced technology venture capital firms in Europe. Established in 1981 it invests in both the Information and Communications Technology and Life Sciences sectors. Now in its 25th year, Advent has over £500 million under management from institutional investors across Europe and the USA.
ICT investments include: Cartesis (Europe’s largest private software company), Snell & Wilcox (leading digital media infrastructure technology company), Phyworks (broadband communications integrated circuits) and BridgeCo (silicon and software for home entertainment). For more information, visit www.adventventures.com
About Atlas Venture
Atlas Venture is a leading early-stage international venture capital firm that invests in technology and life sciences businesses in the U.S., Europe and Asia. Since inception in 1980, its partners have helped build over 300 companies in more than 15 different countries. In the past decade, 40 portfolio companies have been acquired and 39 are now public companies with an aggregate market capitalization of over $12 billion. Atlas Venture is currently investing from its seventh fund and manages over $2.5 billion in capital through offices in Boston, London, Munich, and Paris. For more information, visit www.atlasventure.com.
Temono PR for UbiquiSys
Shona Prendergast / Stefanie Murphy / Francesca Reville
Penrose Financial for Advent Venture Partners
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