(Alliance News) - Tekcapital PLC on Friday provided a positive progress update on its portfolio company, Guident Ltd.
Tekcapital is a London-based intellectual property investment company. Guident is currently developing remote monitoring and control software to improve safety of autonomous vehicles and land-based delivery devices.
Tekcapital owns 100% Guident Ltd. Guident Ltd owns approximately 91% of Guident Corp, its US subsidiary.
Tekcapital said that, since the start of 2023, Guident has enjoyed greater commercial traction and its sales pipeline has grown as a result of meetings with new partners and prospective customers.
Guident will shortly deploy its Remote Monitoring and Control Center solution service for the Jacksonville Transportation Authority and expects its first purchase order from the contract shortly, the company added.
Further, Guident is also finalizing its contract with Boca Raton Innovation Campus to provide autonomous vehicle shuttle services, together with its partners.An update on this is expected in due course, Tekcapital said.
Shares in Tekcapital were up 4.1% at 15.62 pence on Friday afternoon in London.
By Heather Rydings, Alliance News senior economics reporter
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