Brainheart backs Possio to the tune of E2.7m

The investment will be used to develop Possio’s wireless products and applications.

Swedish venture capital firm Brainheart Capital has invested SK25m (E2.7m) in Possio AB, a developer of wireless communication products.

Possio has been active within the telecom and datacom areas for 20 years. With closer ties between technologies such as Bluetooth and wireless local area networks (WLANs), the new capital will be used for developing wireless gateway products and applications.

Magnus Melander of BrainHeart Capital said: “By bridging several fast-growing industry standards, an incredibly large market is open to Possio. We believe that the company has enormous opportunities to benefit from this market and to succeed in the future.”

BrainHeart Capital is a venture capital company which focuses on investments in wireless in Nordic countries. It has a SK 2,150 fund dedicated to the wireless sector.