Funding to spread Amino's reach

Set-top box vendor Amino has successfully completed a GBP 5 million funding round, its fourth to date, bringing the total investment in the company to GBP 15 million.

Set-top box vendor Amino has successfully completed a GBP 5 million funding round, its fourth to date, bringing the total investment in the company to GBP 15 million.

The latest funding came primarily from existing shareholders, including financial institutions and trade partners, in addition to a number of new blue-chip venture capitalists.

The investment will be used to strengthen the company's balance sheet and to increase its sales, marketing and customer support reach into North America and Asia-Pacific.

By strengthening its balance sheet, Amino will meet the financial requirements that enable it to become an approved supplier to major telecomms companies worldwide.

The additional working capital will also help to support its substantial growth in sales.

The company currently has a healthy order book for its range of low-cost Ethernet-based set-top boxes and gateways for the broadband and hospitality markets.

"The funding round went very smoothly with approximately half of the additional investment coming from existing shareholders and half from new blue-chip venture capitalists", said Stuart Darling, Amino's Finance Director.

"Undoubtedly the main attraction for investors is that we have such a healthy order book, booking US $8 million in orders since June from a number of key reference customers throughout the Far East, North America and Europe".

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