Technology venture capital firm nCoTec has invested $4.9m of seed and development capital in Kevab, a newly established Swedish company which develops 3G infrastructure products.
Speaking about the investment, Lars Lindell of nCoTec, who joins the board of Kevab, said: “We were attracted to the radio base station business because it is the largest and most profitable segment of the 3G infrastructure market. Industry analysts estimate that the global market for 3G infrastructure will grow to over $25bn in the next three years from virtually zero today, making it one of the fastest technology growth areas.”
Kevab’s products will be unveiled at the UMTS (Universal Mobile Technology System) conference in Barcelona in October this year. The company is planning to outsource manufacturing and licence technology to third parties where possible to shorten development lead times. It also wants to work closely with a number of leading 3G mobile operators to specify its products and address their specific performance requirements.
nCoTec has also named a new head of operations in Sweden. Jacob Philipson will have specific responsibility for developing new business and identifying investment opportunities in Scandinavia and within the communications software sectors across Europe.