A Cambridge semiconductor company has defied the tough funding environment for early-stage businesses by securing £16m to fuel its expansion.
Sky News understands that Forefront RF, which was set up in 2020, will announce this week that it has raised the money from new venture capital backers Octopus Ventures and Cambridge Innovation Capital, as well as existing investors BGF and Foresight Group.
Forefront RF is a fabless semiconductor company which makes multi-band smartphones, wearable and Internet of Things-connected devics simpler to design.
Its technology aims to solve some of the challenges presented by printed circuit board (PCB) size limitations, enabling mobile devices to manage complex radio frequency environments.
The Series A fundraising takes the total sum raised by Forefront RF to nearly £25m.
The company employs 17 people, and intends to use the new capital to support a major product launch in 2026.
Ronald Wilting, Forefront RF chief executive, said its innovation would “help device manufacturers create smaller, more powerful wearables that support a wider range of communication bands”.
Mr Wilting, a former executive at Ericsson and Qualcomm, joined the company in 2022.
“[Forefront RF’s] patented technology will revolutionise how mobile devices are designed, reducing complexity, and streamlining supply chains,” said Owen Metters, investor at Octopus Ventures.
“The continuing proliferation of cellular-enabled devices means there is a significant opportunity for technology such as [the company’s flagship product] ForetuneTM.”