Braveheart Inv Regulatory News (BRH)

19 Mar 2009 07:00



19 March 2009

Braveheart Investment Group plc

('Braveheart' or 'the Group')

Follow-on Investment in Traak Systems Limited

Braveheart (AIM: BRH), the technology commercialisation and investment management company, announces that it has made a follow on investment of £150,000 into Traak Systems Ltd ("Traak"), a spin-out from the University of Edinburgh.  The funding is Braveheart's ninth investment from its Alpha EIS Fund.

Founded in late 2005, Traak is developing a range of radio frequency identification ("RFID") and sensor based services and solutions.  Its technology is particularly relevant to large enterprises looking to maximise the business value of raw RFID and sensor network data. RFID enables companies to track individual items or vehicles, store additional data and scan multiple items at one time. RFID is commonly used for a wide variety of applications, such as payment systems (Oyster cards on London Underground), access control (new-style UK and US passports) and retail (Wal-Mart uses RFID to monitor its supply chain).

Traak's patent pending technology has previously received grant support from SMART:Scotland. The company has strong links with the University of Edinburgh and other leading universities and is working with a number of world class partners including Motorola, Microsoft, Oracle and Ekahau. Traak is also proud to be a member of the global standards organisation GS1, which maintains the EPC global standards for RFID.

This new round of funding will help Traak further develop its core technology and offer a number of dashboards for different industries. It will also allow the company to explore new partnership opportunities.

Commenting, Chief Executive of Braveheart, Geoffrey Thompon, said, "Traak Systems has developed novel technology in a fast expanding arena and has already forged commercial partnerships. We are delighted to be able to support Traak in making the next step towards developing and commercialising its technology."

Colin Balfour, CEO of Traak added, "We are at an exciting point in Traak's development and have a number of opportunities open to us within a lucrative marketplace. We are delighted to receive further support from Braveheart who instinctively understand the needs of developing technology companies, and recognise the opportunities available to us as we look to capitalise on our technology."

For further information please visit www.braveheart-ventures.co.uk and www.traak.com or contact:

Notes to Editors

Braveheart

Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. Since its formation in 1997 it has made the transition from start-up angel syndicate to fully listed company. Braveheart's shares listed on AIM in March 2007.

Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP and Braveheart enjoys close relationships with several universities to identify emerging technologies. Investments are predominantly technology-focused; however the Group also maintains limited exposure to more traditional businesses.

Braveheart's diverse portfolio currently comprises over 30 companies and it has completed over 80 deals in its eleven year history, including six IPOs, three trade sales and eight write-offs and has an exit IRR of 33%.

At the 2008 Ernst & Young Entrepreneur of The Year Awards (Scotland) Braveheart CEO Geoffrey Thomson was given a special award recognising his contribution and support of emerging technology businesses in Scotland over the past decade.

The Alpha EIS Fund ("the Fund")

Established in December 2005, the £2.5 million Fund was set up as a tax efficient vehicle to invest in early-stage, university spin-out companies, rich in intellectual property, with potential for significant growth, through the commercialisation of their IP. 

The Fund is managed by Braveheart and participants and co-investors include Scottish Enterprise's Scottish Co-investment Fund and Braveheart's own clients. The Fund will deliver a minimum of ten EIS qualifying investments, sourced through the Group's unique framework of strong formal relationships with Scottish universities and business parks.