Zinwave, a leader in next-generation in-building cellular and wireless technology has completed a $10 million Series B round of funding to support its global growth plans in a deal supported by existing investors SEP and Atlas Venture and led by new investor SEB Venture Capital.

The company, which has developed technology to solve the problem of poor signal coverage in buildings, has also just launched its Zinwave 3000 product, a unique wideband active distributed antenna system.

Zinwave will use the new funds to support its aggressive growth strategy and global market expansion as well as for product innovation. The company will strengthen its existing mobile operator and sales channel relationships throughout the United States, Europe and into the rest of the world.

Zinwave has significant growth opportunities as the market for in-building wireless coverage is predicted to continue to grow exponentially over the next few years fuelled by emerging technologies and services.

Jonathan Paget, Chief Executive of Zinwave, said: “This latest investment is a real testament to our strong technology vision, product innovation and market development to date. With this funding in place we now have the momentum to capitalise on our existing sales efforts in Europe and to really bolster our presence in the US where we’ve seen early successes recruiting sales channels and securing customer trials. “

Currently between 60 and 70 percent of existing mobile device usage takes place within buildings. The impact of new technologies such as WiMAX is driving even more mobile applications such as data and video.

Paget added: “We see the in-building wireless market as a huge opportunity and we have the technology and solutions to capitalise on this.”