|[February 17, 2014]
enModus Closes £1.5m in Further Funding
CHEPSTOW, Wales --(Business Wire)--
enModus, a developer of Smart Home communications technology, today
announced that it has closed £1.5m of seed investment from current
investor Andromeda Capital Partners, and new investor Finance Wales.
Following the investment round, enModus has relocated to larger premises
in Chepstow, Wales, to accommodate planned growth of its engineering and
The funding will enable enModus to launch its ground-breaking powerline
communications technology, Wattwave, which has been specifically
developed for embedding connectivity in appliances and buildings.
Andy Heaton, enModus' CEO commented: "The Smart Home market is growing
rapidly, with both major consumer electronics companies and new
entrants sccessfully launching smart devices for the home. These
devices need to connect reliably, regardless of where they are
installed, which is something wireless technologies like Wi-Fi and
Bluetooth cannot deliver. Wattwave offers extremely robust, long range
and affordable communications for low bitrate monitoring and control
applications, uniquely filling this gap in the market."
Heaton continued: "This new investment from both Andromeda Capital
Partners and Finance Wales also enables us to optimise and cost reduce
Wattwave even further. With our existing grant support from the
Department of Energy & Climate Change (DECC) under their Energy
Entrepreneurs Fund (EEF), we can accelerate our technology roadmap and
vastly increase the applications that can be supported with Wattwave".
Welcoming Finance Wales to the Board, Heaton added: "We're delighted
that Finance Wales is joining Andromeda Capital Partners as an investor
in enModus. With their investment, and additional support from the
Energy Entrepreneurs Fund, we can bring Wattwave to market and make a
reliable, affordable smart home a reality."
Founded in 2010, enModus is a UK-based Smart Home technology company.
The company's core technology is Wattwave, a low-cost powerline
communications protocol for appliances and buildings which offers
unbeatable range and robustness.
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