Funding For Innovative Mobile Network Technology
Arieso Ltd, the leading supplier of cellular network optimisation software products to the mobile telecommunications industry, has raised £1.5 million with the help of Oxfordshire Investment Opportunity Network (OION), Europe’s leading business angel network. The funding will enable Arieso to develop its suite of innovative software products, which help network operators significantly reduce the costs of building and maintaining 3G networks, cut roll-out times by up to 30%, and increase operational efficiency.
Shirin Dehghan, Chief Executive Officer of Arieso, explained:
“2004 promises to be the year that the world’s leading mobile operators integrate optimisation solutions into their 3G network design processes and Arieso is well-placed to become their provider of choice. Given the cost of 3G licences, operators need to ensure a fast transition of existing 2G and 2.5G subscribers to the 3G networks. And it’s critical that the performance of new 3G networks meets high consumer expectations in what is a very competitive marketplace; this is where unique Arieso technology will play a crucial role.”
The total annual global market for network optimisation products is currently £300m, with fast growth anticipated by leading market analysts, given the substantial cost-savings and reduced time-to-market potentially afforded by the operating community.
One of Arieso’s innovative optimisation products uses a high-speed simulator incorporating real network and measurement data to model the design and behaviour of a planned 3G network, showing how the network can be designed to operate more efficiently without sacrificing quality.
Ms Dehghan praised Oxfordshire Investment Opportunity Network (OION):
“The OION Network exceeded our expectations. Our presentation at one of OION’s monthly meetings led to a £500,000 investment from one of their investor members, Top Technology Ventures, which leveraged a further £1,000,000 from venture capital firm Add Partners. We are delighted, as this funding enables Arieso to gear up for further expansion and broaden the range of products we offer to operators.”
Alastair Cavanagh, Manager of Oxfordshire Investment Opportunity Network, said:
“We congratulate Arieso and are pleased that the funding secured through OION attracted further investment from a leading VC firm. The combination of Arieso’s patented product portfolio, the first of its kind, and a management team with substantial experience in the telecoms industry, proved highly attractive to our investors.”