Follow-on Investment in NXVis

RNS Number : 8251U

Braveheart Investment Group plc

01 July 2009

 



01 July 2009

Braveheart Investment Group plc

('Braveheart' or 'the Group')

Follow-on Investment in NXVision

Braveheart (AIM: BRH), the technology commercialisation and investment management company, announces that it has led a follow on investment in NXVision ('the Company'). Investors in the c£250k funding round included Braveheart, Scottish Enterprise, LINC Scotland and the Company's own management. Braveheart first invested in NXVision (previously known as Inxstor) at seed stage in 2006.

Based in Dunfermline, NXVision has developed technology for the place-shifting market. Place shifting allows the user to access audio and video content anywhere in the world from a mobile device, such as a laptop, mobile phone or personal media player by processing images and sound from home video equipment into digital signals and transmitting them to the new viewing location over the home internet connection.  

The Company's first place-shifting product has been demonstrated and evaluated by a number of top tier operators. The demonstration allows the operators to access Freeview and satellite set top boxes ('STBs') remotely from personal computers, laptops and mobile phones over Internet Protocol either through the 3G or Wi-Fi networks. The company's technology now works with Apple iPhone/ iPod Touch, Nokia, Sony Ericsson, Motorola, LG, Google Android, RIM and Windows Mobile handsets. A new 'side-loading' product (Push TV) was also introduced to the market late last year, and this product allows programmes to be tagged for mobile recording through the EPG (Electronic Programme Guide eg Sky+) and once recorded the programme is transferred either via WiFi or 3G to a selected mobile device for viewing.  

Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheart, said 'NXVision's place-shifting technology has created much interest in this rapidly emerging market and we are pleased to continue to support the company on its journey.'

Mark Smith, Chief Executive of NXVision added, 'This further funding, coupled with our rising profile in the marketplace, means we are now well positioned to secure significant contracts and associated revenues, which will take the Company to the next steps of its development.' 

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

Braveheart Investment Group	Tavistock Communications (for Braveheart)
Geoffrey Thomson, Chief Executive	Simon Hudson / James Midmer
Tel: [phone]	Tel: [phone]
[e-mail]	[e-mail]
NXVision Ltd	Seymour Pierce Limited
Mark Smith, CEO	(Nominated Advisers to Braveheart)
Tel: [phone] [e-mail]	Richard Feigen/Catherine Leftley Tel: [phone]

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.

On 8 June 2009 the Group announced the acquisition of Inkopo Limited. This acquisition, based principally on an earn-out consideration, gives the Group an established presence in Yorkshire, an additional revenue stream and further complementary income from investment facilitation and management activities.

 

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