Frontier IP Group PLC (AIM:FIPP, OTC:FGPPF) said investee company CamGraPhIC has raised £1.26mln to scale up its graphene-based photonics technology for use in high-speed data and telecommunications networks.
The company, in which Frontier holds a 20.8% stake, also has former BT chairman Sir Michael Rake on its share register. He is currently advising CamGraPhIC on an informal basis and will be joining its board by the end of the year.
He said: "As an investor and informal adviser to the company, I have been very impressed with its technology and the possibilities that it opens up for transforming the vital infrastructure of data and telecommunications networks.
“It will be a pleasure to become more closely involved as a member of the board of directors, and I look forward to taking up the role later this year."
CamGraPhIC is developing graphene-based photonics technology for scalable, faster and cheaper optical transceivers - devices at the heart of high-speed data and telecommunications networks.
This new approach has the potential to become a core enabling technology for next generation 5G networks and beyond, investors were told.
Frontier invests in and helps develop smaller technology companies such as CamGraPhIC.