11th Jan 2021 17:21
Frontier IP Group PLC - intellectual property commercialisation firm - Notes successful GBP250,000 fundraise by portfolio company Elute Intelligence Holdings Ltd, Elute's first equity funding round. The investment was made by private investors in return for a 10% stake in Elute and values it at GBP2.5 million post-money. This puts the value of Frontier's 41% stake at GBP1.0 million.
"Proceeds from the fundraising will be used to support Elute's recently launched Patent Reader and development of an enterprise search tool based on the same underlying technology, which uses forensic linguistics to speed searches through unstructured document datasets," says Frontier
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By Anna Farley; [email protected]
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