NXT Capital has loaned $3.5 million to antenna solution company SkyCross to drive its global growth efforts.
SkyCross designs and manufactures antennas for wireless devices. The patented “isolated mode antenna technology” imbues one antenna with the capabilities of multiple, meaning small and mobile devices can maintain high performance levels without compromising aesthetics or convenience.
SkyCross announced today that venture group NXT Capital provided it with a subordinated venture loan. Last May, the company raised $11 million in a fifth institutional funding round to improve the technology’s functionality on 4G networks. The backing included money from TL Ventures, Investor Growth Capital, Intel Capital, Gabriel Venture Parnters and DOCOMO capital. SkyCross previously raised $23 million in 2009, with Investor Growth Capital leading the round.
With this latest round, SkyCross searched for flexible financing that would not involve giving away equity. NXT Capital’s Venture Finance group offers senior and subordinate term loans to emerging companies that already have investment but are looking for a little extra push. Read the press release.