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Sarantel receives new round of financing

Posted: 14 Feb 2003 ?? ?Print Version ?Bookmark and Share

Keywords:sarantel? antennas? mobile devices mti partners? vcf partners? etechnology VCT?

Sarantel Ltd, a manufacturer of miniature antennas for mobile devices, has raised ?3.5 million ($5.6 million at $1: ?0.61809) in a first closing of a new round of investment led by MTI Partners and VCF Partners - two of the U.K.'s major hi-tech venture capital investors, and supported by eTechnology VCT.

The funding will be used for marketing and to introduce the company's 3G mobile designs. A second closing, due within three months, is expected to raise the total amount to ?6 million ($9.7 million at $1: ?0.61809).

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