Frontier IP portfolio company Fieldwork Robotics raises capital

Tue, 14th Jan 2020

Frontier IP, a specialist in commercialising university intellectual property, said portfolio company Fieldwork Robotics had raised £298k through an initial equity funding round. The proceeds would be used to accelerate development robotics technology for harvesting soft fruit and vegetables. As part of the fundraising, Frontier IP converted a loan of £48k into equity, with £250k being raised from new investors. The funding round valued the University of Plymouth spin out at £5.05m with the Frontier IP's 26.9% equity stake valued at £1.36m. At 1:26pm: (LON:FIPP) Frontier IP Group PLC share price was 0p at 67p Story provided by StockMarketWire.com

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