14th Apr 2008 07:00
Braveheart Investment Group plc14 April 2008 For release: 07.00, 14 April 2008 Braveheart Investment Group plc ("Braveheart" or the "Group") Further Investment in Spiral Gateway Ltd ("the Company") Braveheart (AIM: BRH), the technology commercialisation and investmentmanagement company, announces that it has led a second funding round of £730,000into Spiral Gateway Ltd. The Group invested alongside Imperial Innovations, Bankof Scotland Corporate and Scottish Enterprise's Scottish Co-investment Fund. Spiral Gateway was founded in 2004 as a spin-out from the University ofEdinburgh and is focused on the development of a computer processing platformknown as Reconfigurable Instruction Cell Architecture ('RICA'); a method forprocessing multimedia, wireless and broadband computing tasks. Spiral Gateway isaiming to incorporate the technology onto silicon chips and will initiallytarget the Image Signal Processing ('ISP') market. The ISP function is one whichis required in every camera enabled mobile phone. Spiral Gateway has agreed a licence with the University of Edinburgh for theexclusive rights to RICA and recently released a silicon-based demonstration ofthe technology. This has allowed management to advance discussions withpotential customers in the ISP market. This funding is designed to provide interim support for Spiral Gateway whilst itdevelops its technology and advances discussions with key commercial partners. Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheartsaid, "RICA is an exciting processing platform that will appeal to numerousmarkets when fully developed. Spiral Gateway has recently strengthened itsmanagement team with the appointment of a new Chairman and CEO and we arepleased to be able to demonstrate our commitment to the Company with thisfunding. In addition, this is the first occasion where we have investedalongside Imperial Innovations and we are delighted to be working with them." Graham Townsend of Spiral Gateway commented, "Braveheart has an excellentbackground in supporting early-stage technology companies and we are pleasedthat they have recognised the continuing potential of our RICA technology. Weare looking forward to strengthening our relationship with our investors as wedevelop our technology to a commercial level." For further information please visit www.braveheart-ventures.co.uk or contact: Braveheart Investment Group Tavistock Communications (for Braveheart)Geoffrey Thomson, Chief Executive Clemmie Carr / Simon HudsonTel: 01738 587555 Tel: 020 7920 [email protected] [email protected] Spiral GatewayGraham Townsend, Chief ExecutiveTel: 0131 472 [email protected] Note to Editors Braveheart was formed in 1997 by four Scottish businessmen as a co-investmentvehicle in order to pool their money and knowledge, increase diversification andalso reduce risk. It makes investments in young, emerging, unlisted companies where there ispotential for significant growth, through the successful commercialisation oftheir IP. Typically, Braveheart's investments are focused on British companieswith potential global technology solutions. However, the Group also maintainslimited exposure to more traditional businesses. Braveheart's portfolio ranges from start-up companies to businesses, which areclose to an IPO or sale. Each year out of several hundred business plansreceived, around ten investments are made, all of which demonstrate attractiveexit potential. These opportunities emanate from Braveheart's network ofcontacts, which includes the Group's own clients, and close relationships withscience parks and universities. Braveheart has formal relationships with sevenuniversities and two business parks, giving it unique access to IP and start-upcompanies emanating from them. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Braveheart Investments