BeammWave announced raising SEK 6.5 million in funding from Almi, LU Holding and Thomas Rex.

Sweden Investments 29 June 2020
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BeammWave, a Lund, Sweden-based developer of an antenna technology for 5G, primarily intended for mobile phones and IoT equipment, announced getting into an investment agreement for raising SEK 6.5 million ($700k) in capital investment.

The funding round was backed by private and public investors, including LU Holding and Thomas Rex, matched by a SEK 3 million contribution made by Almi Invest.

At the same time, the company announced that Fredrik Rosenqvist (formerly at Saab Ventures and E.ON) will become chairman of the board, and Bengt Lindoff will become Chief Systems Architect in the company.

BeammWave, founded in 2016 and led by CEO Stefan Svedberg, aims to manufacture an inexpensive single chip RFIC for digital beamforming including front-end and antenna arrays, to be used in any device including mobile phones and IoT devices.