Birmingham Firm Secures Over £3m in Funding for New 5G Technology

By Anushka Malhotra

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Quick Read: Birmingham-based antenna specialist Novocomms has secured £3.6m from the Government's Small Business Research Initiative (SBRI) to develop advanced 5G mmWave consumer premises equipment (CPE).

Birmingham-based antenna specialist Novocomms has successfully secured £3.6 million in funding from the Government’s Small Business Research Initiative (SBRI). This significant grant will be allocated towards the development of 5G mmWave consumer premises equipment (CPE).

The funding will enable Novocomms to hire up to ten new electronic engineers and has the potential to create an additional 50 production jobs if the new technology proves successful. The goal is to develop next-generation 5G solutions using advanced silicon, software, and an electronically steerable antenna over the next 13 months.

Current high-speed CPE units on the market often rely on existing technology for the new 28 GHz bands, potentially limiting the full capabilities of 5G at mmWave frequencies. Novocomms aims to overcome these limitations with its innovative approach.

The funding for this project was provided by Innovate UK through the Small Business Research Initiative. Sampson Hu, founder and CEO of Novocomms, expressed his enthusiasm for the funding:

“We’re delighted to have secured this funding from the SBRI, as it gives us the vital support we need to develop new technologies that will be used across the world. This is not simply research and development but is linked commercially to our belief that the global market for 5G mmWave devices is enormous. Our predictions on the huge potential for this technology were re-confirmed at this year’s Mobile World Congress, where there was a lot of interest in the adoption of 28 GHz.”

This funding represents a significant boost for Novocomms and the broader Birmingham tech community, promising advancements in 5G technology and job creation in the region.

For more information, visit Novocomms.

What's new

Inicio AI Raises £2.6M in Seed Round to Scale AI-Powered Financial Platform

Inicio AI, a Coventry-based fintech innovator, has raised £2.6 million in seed funding to fuel growth and roll out its FCA-regulated consumer affordability platform.

The funding round was supported by a consortium of high-profile investors, including Rigby Group, Morgan Stanley, Haatch Ventures, Angel Academe, Mint Ventures, and a number of individual angel investors. It also includes a £500,000 investment from the West Midlands Co-Investment Fund (WMCO), managed by Midven, part of Future Planet Capital.

The raise follows Inicio AI’s recent win at Birmingham Tech Week’s OneToWin pitch competition, where it earned recognition for Budgie AI, its intelligent virtual agent designed to help individuals better manage their finances.

The funds will be used to scale the company’s operations, including the launch of the UK’s first FCA-regulated specialist consumer affordability passporting service. This innovation will allow consumers to share verified affordability data with third parties, streamlining financial assessments across sectors.

The company also plans to grow its West Midlands headquarters, adding new talent in tech and data roles to support ongoing development.

Rachel Curtis, CEO of Inicio AI, commented:

“This investment, alongside our OneToWin recognition, represents a major milestone. It enables us to enhance our technology, scale our impact, and help more people take control of their financial future while improving efficiency for lenders.”

The WMCO, jointly launched by the West Midlands Combined Authority (WMCA) and the West Midlands Pension Fund, aims to back high-growth SMEs driving innovation and economic growth in the region through matched equity investment of up to £1 million.

Richard Parker, Mayor of the West Midlands and WMCA Chair, said:

“Inicio AI is a fantastic example of regional innovation. With the right investment and support, local companies like this can launch groundbreaking solutions that improve lives and grow our economy.”

Rupert Lyle, Investment Director at Midven and Fund Principal of WMCO, added:

“Inicio AI’s cutting-edge approach to affordability assessments is reshaping how the financial sector operates. We’re excited to be part of their journey.”

By Anushka Malhotra

16 Apr

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