Investment in IM-Sense
For release: 07.00, 23 June 2008
Braveheart Investment Group plc
('Braveheart' or the 'Group')
Investment in IM-Sense Ltd
('the Company')
Braveheart (AIM: BRH), the technology commercialisation and investment management company, announces
that it has co-led a £1 million financing of IM-Sense Ltd with IQ Capital. A number of high net worth
individuals also participated in the funding.
IM-Sense was founded in January 2006 as a spin-out from the University of East Anglia and is focused on the
development of a technology called 'IM-Vision', which enhances digital photographs and videos automatically
and instantaneously. This process is technically known as image signal processing (ISP), and removes the
need for time-consuming user intervention in post processing photography programmes.
The Company is currently developing a pipeline of ISP products, incorporating the IM-Vision technology.
Development of the first product, post-processing software for PCs and printers, is complete. IM Sense's long-
term goal is that the technology will be embedded in software within devices such as cameras, mobile
phones or other displays, enabling picture enhancement to be carried out automatically. The technology is
currently being evaluated by a number of companies including, amongst others, Kodak, Broadcom and Dolby.
This funding will provide working capital to enable IM-Sense to expand its team, complete the development of
the IM-Vision product and take it to market.
Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheart said, 'The appeal
of this technology to such a large market makes this potentially an exciting investment for Braveheart. IM-Sense has already shown traction within its intended market and possesses a comprehensive patent portfolio that will allow it to maximise the scope of its technology.'
Alan Henderson, CEO of IM-Sense commented, 'Braveheart has an excellent record of supporting early
stage technology companies and we are delighted to have them on board at this exciting stage in our
development. With the experience already present within IM-Sense's board, we believe we have a strong team
to take our product to market.'
For further information please visit www.braveheart-ventures.co.uk or contact:
|
Braveheart Investment Group |
Tavistock Communications (for Braveheart) |
|
Geoffrey Thomson, Chief Executive |
Clemmie Carr / Simon Hudson |
|
Tel: 01738 587555 |
Tel: 020 7920 3150 |
|
gthomson@braveheart-ventures.co.uk |
carr@tavistock.co.uk |
|
|
|
|
IM-Sense |
|
|
Alan Henderson, Chief Executive |
|
|
Tel: 01603 450857 |
|
|
alan@im-sense.com |
Notes to Editors
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 70 deals in its
ten year history, including 6 IPOs, 3 trade sales and 8 write-offs and has an exit IRR of 37%.
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.
This information is provided by RNS
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