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Pin to quick picksBraveheart Inv Regulatory News (BRH)

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Further Investment in Traak Systems Ltd

1 Sep 2010 07:00

RNS Number : 9136R
Braveheart Investment Group plc
01 September 2010
 



1 September 2010

 

 

 

Braveheart Investment Group plc

Further Investment in Traak Systems Ltd

 

Braveheart (AIM: BRH), the technology commercialisation and investment management company, today announces that it has made its third investment into Traak Systems Ltd ('Traak' or 'the Company'). The c£170,000 package comprised funds from Braveheart and its clients, other private individuals and Scottish Enterprise's Scottish Co-investment Fund.

 

Traak was formed in 2005 to address an emerging need in the marketplace for a solution to manage the increasing amount of data generated from a growing number of sources such as radio frequency identification (RFID) and sensor networks. Traak's software engine can be applied to a wide range of applications where there is an urgent need to sense and respond, in real time, to critical and dynamic situations and environments. Examples are the energy sector, including renewables and smart metering, and urban traffic management and transportation.

The amount of information created from various sources such as RFID and sensor networks is expected to increase significantly. For example real time environmental sensing is growing rapidly and Gartner predicts that by the end of 2012, physical sensors will create 20% of non-video internet traffic. Traak's solution to this problem is a software engine to process data intelligently at the periphery of the network using complex event processing (CEP) algorithms. The Company has demonstrated how CEP can be used to intelligently process large volumes of data in real time and its first product is currently available for customers in selected industries.

The funding will provide working capital in order to complete the product development, launch the product for select customers and develop commercial partner relationships.

 

Commenting, Geoffrey Thomson, Braveheart Chief Executive said: "This further investment into Traak demonstrates not only our continued confidence in the Company's technology and management, but also our ongoing commitment to support our most promising portfolio companies."

 

Colin Balfour, CEO of Traak added, "With a strong management team, innovative solutions and continued support from Braveheart and our other investors, we are now positioned for growth in key markets, and look forward to further strengthening and developing the Company."

 

For further information please visit www.braveheartinvestmentgroup.co.ukor www.traak.com or contact:

 

 

Braveheart Investment Group

 

Tavistock Communications (for Braveheart)

Geoffrey Thomson, Chief Executive

Simon Hudson/ James Midmer

Tel: 01738 587555

Tel: 020 7920 3150

gthomson@braveheart-ventures.co.uk

shudson@tavistock.co.uk

jmidmer@tavistock.co.uk

Traak Systems

Colin Balfour, Chief Executive

Tel: 0131 478 4784

colin.balfour@traak.com

Notes to Editors

Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. It was founded in 1997 by a small group of investors in order to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Thirteen years on, Braveheart is a public company with offices in Perth, London and Yorkshire, and a demonstrable track record in early stage technology investing, as well as an established client base of high net worth individuals. Service offerings include bespoke EIS portfolios, fund management, investment facilitation and management services.

Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through close relationships with a number of leading universities and innovation centres Braveheart has access to a wide variety of emerging commercial opportunities at early stages.  The Group had 27 companies in its equity portfolio as at the last year end (31 March 2010).

On 18 August 2010 Braveheart announced its proposed acquisition of the business and assets of Envestors LLP. Established in 2004, Envestors is a specialist corporate finance advisory business that matches high growth companies with private investors. The acquisition is subject to the approval of the Financial Services Authority and the satisfaction of a number of completion formalities.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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