Business
Portfolio news - FIPP increases stake in Celerum
Portfolio news - FIPP increases stake in Celerum.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 6770C Frontier IP Group plc 12 February 2020 \n\nRNS Reach\nAIM: FIPP\n12 February 2020\n \nFrontier IP Group plc\n(\"Frontier IP\" or the \"Group\")\n \nPortfolio news - Frontier IP raises stake in real-time, nature-inspired Artificial Intelligence (\"AI\") company Celerum to 33.8 per cent \nFrontier IP, a specialist in commercialising intellectual property, has raised its equity stake in portfolio company Celerum Limited (\"Celerum\" or the \"Company\") from 10 per cent to 33.8 per cent. The increase is in return for an investment of £25,000, converting a previous loan of £21,818 into equity, and for providing £50,000 worth of additional strategic, business and hands-on software development services. \nCelerum, a spin out from Robert Gordon University (\"RGU\"), Aberdeen, is developing novel artificial intelligence to help businesses improve the operational efficiency of logistics and supply chains. It also has the potential to tackle a host of other complex scientific, engineering and industrial challenges. Frontier IP is stepping up its support for the Company in response to increased industry interest.\nAs well as helping organisations improve their advanced planning and scheduling, the software works in real time, allowing them to respond immediately in the most effective way to unforeseen circumstances. For example, if an accident blocks a road, the software will immediately work out the most efficient alternative routes to redirect lorries, automatically accounting for the knock-on effects on the rest of a fleet, perhaps by rescheduling other deliveries. \nThe Company's approach has been proven in a number of projects undertaken by founder Professor John McCall, Head of the School of Computing, Science and Digital Media at RGU. They include a knowledge transfer partnership, backed by Innovate UK, with one of Scotland's biggest privately-owned hauliers ARR Craib to maximise vehicle use and fleet effectiveness. \nProfessor McCall has more than 25 years research experience in nature-inspired computing (\"NIC\"). NIC looks to develop new software and AI algorithms based on natural processes and behaviours. Ant colonies, for example, are extremely effective at finding the most efficient routes to find food; NIC digitally mimics how they do so to solve human supply chain and logist...