2018, August 23.
Borean Innovation, an early stage venture capital investor, has invested DKK 4 million in Bifrost Communications. Along with Bifrost’s other investments and grants, the investment from Borean provides Bifrost with sufficient funding to develop key technological elements. The company has developed a technology that makes not only large cost savings but also significant efficiency improvements possible for operators globally. It is the only solution that enables operators worldwide to provide effective gigabit fiber-optic internet connections at reasonable costs and with low power consumption.
An enormous market potential
“In our opinion, the technology developed by Bifrost Communications has an enormous market potential. One sign of this is that the company is already a member of the leading broadband technology fora – the Broadband Forum and FSAN – and is in dialogue with the major operators worldwide,” says Lene Gerlach, investment and portfolio manager at Borean Innovation.
Lene Gerlach has been elected chairman of the executive board in Bifrost Communications. Amongst Lene Gerlach’s contributions to Bifrost is important input into company structure and IP-strategy.
Very interested in cooperation
Bifrost was founded in 2015 at the Technical University of Denmark (DTU) and is based around a patented invention made by its founders: Jesper Bevensee Jensen, assistant professor at DTU, and Bo Pedersen. Thus, DTU is among Bifrost’s other shareholders. The company today builds on three patents pending.
“At Borean Innovation we are very interested in cooperating with The Technical University of Denmark. Their attitude towards innovation and start-ups is phenomenal,” says Lene Gerlach.
Bifrost has a strong team
“Prior to our investment we were also very impressed by the strong team in Bifrost Communications; Jesper Bevensee Jensen and Bo Pedersen. Bo has initiated and exited several start-ups with success in the photonics industry. The combinination of Jesper’s distinguished knowledge of photonics and Bo’s commercial knowledge is unique,” says Gerlach.
On the team is also executive board member Basil Garabet, president and CEO, NKT Photonics, who has extensive international experience from the photonics industry. Garabet sees true potential in Bifrost as well:
“Bifrost Communications’ advanced technology truly enables internet service providers’ fiber to the home business case, whilst lowering energy costs and improving performance,” says Basil Garabet.