Genesis Tech attracts N324.1m investment from Harwell Capital

PROVIDER of superfast broadband over copper based in Coventry-United Kingdom, the Genesis Technical Systems, has attracted over £1.2 Million, about N324,136,617m investment from venture capital firm Harwell Capital, reports DigitalSENSE Business News.
Harwell, DigitalSENSE Business News gathered invest in companies developing technology solutions for everyday business and consumer challenges and with the latest investment in Genesis Technical System has given a boost helps with commercialisation of mBond and DSLRings technologies for superfast broadband.
DigitalSENSE Business News also gathered that Genesis, whose team is quickly becoming known as the ‘Copper Revolutionists,’ was selected by Harwell Capital for investment, in recognition of the potential of the ground-breaking broadband technologies it is currently developing.
The chief executive officer, Genesis Technical Systems, Nigel Hall, said that new investment will enable Genesis to bring mBond and DSL Rings to market.
mBond, he said, has delivered over 100 Mb/s over 1 mile in telco field trials, and is for mobile operators wanting to rapidly supercharge their existing backhaul. While, DSL Rings is capable of delivering up to 400 Mb/s fixed line broadband, which is for fixed line operators wanting a cost-effective technology to deliver superfast broadband at a fraction of the cost of other solutions.
“This landmark investment from Harwell Capital is a great confidence boost at a critical moment in our company strategy. It means we can accelerate our efforts from the innovation and development phase into full commercialisation,” he said, stressing that both mBond and DSL Rings are generating market attention and provide real and exciting alternatives to the high-cost migration to fibre.
“We have completed trials in Asia and Europe with excellent feedback and first orders are expected in the summer” he said.                          
Harwell Capital was established to offer private clients the opportunity to invest in privately held technology companies at lower levels than offered by private equity funds, allowing investors to build their own technology portfolio with the potential to deliver superior returns and capital growth. Harwell Capital believes that innovation and new technology will be a major driver of growth, and can deliver an excellent performance for investors.
-Ayo Omidele



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