6.5 million sek to Beammwave for 5G technology

Investors includes Almi Invest (https://www.google.com/url?q=https%3A%2F%2Fwww.almi.se%2Falmi-invest%2Fnyheter%2F65-miljoner-till-beammwave-som-utvecklar-ny-teknologi-for-5g-applikationer%2F&sa=D&sntz=1&usg=AFQjCNEqhfXPHFm9Xf2ndaHKsL0IujOAqg), investing SEK 2.8 million, LU Holding and several strong business angels, including Thomas Rex with backgrounds in Ericsson, Fingerprint Cards and Acconeer.

Bengt Lindoff, Sweden's most productive inventor and also on the list of the world's most productive inventors with more than 1800 granted patents, at the same time takes on a more operational role as Chief Systems Architect in the company and Fredrik Rosenqvist, with background in both Saab Ventures and E.ON, takes the role of chairman.

BeammWave develops a unique and patented solution for the highest frequency bands in 5G, that delivers faster and more efficient wireless communication. The company's innovative technology revolutionizes the use of these frequency bands (mmWave) in mobile devices. BeammWave has a unique functional partitioning where the antenna is combined with parts of the radio, which allows for superior performance and great freedom for the phone manufacturers in terms of antenna placement.

– Through the investment we now have the opportunity to take additional steps towards a commercial product. To use the upcoming 5G applications in mobile devices, new technology is required that we will now deliver. It is very exciting that we have managed to gather so much technical and commercial expertise to the company, says Stefan Svedberg, CEO of BeammWave.