20th Aug 2007 07:00
Braveheart Investment Group plc20 August 2007 20 August 2007 Braveheart Investment Group plc ("Braveheart" or the "Group") Alpha EIS Fund invests in Traak Systems Ltd Braveheart (AIM: BRH), the technology commercialisation and investmentmanagement company, announces that it has made its seventh investment from itsAlpha EIS Fund, investing c£100,000 in Traak Systems Ltd ("Traak"), a spin-outfrom the University of Edinburgh. Founded in late 2005, Traak joined the Edinburgh Pre-Incubator Scheme ('EPIS')programme at the University of Edinburgh in May 2006, and was awarded a SMART:Scotland grant of £50,000 in January this year. Traak is developing intelligent self-learning radio frequency identification('RFID') and sensor network products and services for the efficient processingof data in the growing RFID sector. RFID enables companies to track individualitems or vehicles, store additional data and scan multiple items at one time.This can improve efficiencies in the supply chain, reduce waste and theft. Theuse of RFID technology is increasing to the point where large volumes of datacreated may overwhelm existing network infrastructures. RFID tag demand isprojected to grow from $300m in 2004 to $3bn by 2009. RFID is commonly used fora wide variety of applications, such as payment systems (Oyster cards on LondonUnderground) access control (new-style UK and US passports) and retail (Wal-Martuses RFID to monitor its supply chain). The software Traak is developing will filter out unwanted noise therebyfacilitating more manageable and efficient processing of raw RFID data. Thisallows essential data to be transformed into meaningful information in real timeand avoids potential network and server overloads. To date Traak has already signed an agreement with a leading manufacturer ofWi-Fi based, real time location systems. The funds being invested will be usedto provide working capital to complete the development of the RFID filteringtechnology, and to further develop partnering and / or licensing opportunities. Commenting, Chief Investment Officer of Braveheart, Carolyn Smith, said, "Thegrowth of the RFID market has been well-documented, with companies able to trackvehicles, products and other items with exact precision, providing them withinvaluable data. The products Traak is developing will enable users to cope withthe impending avalanche of information that these technologies will generate. "We are pleased to be investing in another University of Edinburgh spin-out. Asannounced in June, we are in the process of setting up a dedicated £25 millionfund to invest in these type of projects and we expect this fund to be fullyoperational in 2008." Colin Balfour, Managing Director, Traak Systems Limited added, "Sinceestablishing Traak in 2005, we have achieved a number of important milestones.This round of funding into the company will enable us to accelerate and completethe development of our core technology and enable us to further explorepartnering or licensing opportunities, ahead of a formal product launch nextyear." Braveheart Investment Group Tavistock Communications Traak Systems LimitedGeoffrey Thomson Rachel Drysdale Colin BalfourChief Executive Simon Hudson Managing DirectorTel: 01738 587555 Tel: 020 7920 3150 Tel: 0131 478 4784 [email protected] www.traak.com The Alpha EIS Fund ("the Fund") Established in December 2005, the £2.5 million Fund was set up as a taxefficient vehicle to invest in early-stage, university spin out companies, richin intellectual property, with potential for significant growth, through thecommercialisation of their IP. The Fund is managed by Braveheart andparticipants and co-investors include Bank of Scotland Corporate, ScottishEnterprise's Co-investment Fund and Braveheart's own clients. The Fund willdeliver a minimum of ten EIS qualifying investments, sourced through the Group'sunique framework of strong formal relationships with Scottish universities andbusiness parks. To date the Fund has made 7 investments from the Alpha Fund, totalling c£1million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Braveheart Investments