Business
Investment in FundamentalVR and Portfolio Update
Investment in FundamentalVR and Portfolio Update.
About this update from Tern Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8182I\n Tern PLC\n 17 August 2021\n \n \n \n \n 17 August 2021\n \n \n \n \n \n Tern Plc\n \n \n (\"Tern\" or the \"Company\")\n \n \n \n \n \n Investment in FundamentalVR and Portfolio Update\n \n \n \n \n \n Notice of Interim Results and Investor Presentation\n \n \n \n \n \n Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things (\"IoT\"), announces that it has made a further £530,000 investment in its portfolio company, FVRVS Limited (\"FundamentalVR\"), and provides an update on the recent activities of the Company and its portfolio companies, together with announcing the date of release of the Company's interim results for the six months ended 30 June 2021 and a planned investor webinar.\n \n \n \n \n \n Highlights\n \n \n \n · \n Strong business momentum continues across all of Tern's principal portfolio companies.\n \n \n \n \n \n · \n Further investment by Tern of £530,000 in FundamentalVR in the form of convertible loan notes as part of a wider fund raise by FundamentalVR from its existing institutional and other shareholders.\n \n \n \n \n \n · \n FundamentalVR has seen increased adoption of its virtual reality simulation solutions and continues to gain traction as a result of the challenges of social distancing and the reduction in elective surgeries, together with the introduction of new capabilities\n .\n \n \n \n \n \n · \n Device Authority has continued to accelerate its annual recurring revenue growth through its subscription base and its modularised licence platform, KeyScaler, aided by the increasing focus on IoT security, the launch of product enhancements and the securing of further distribution partnerships.\n \n \n \n \n \n · \n Wyld Networks has continued to make significant progress following \n its IPO on NASDAQ First North in Stockholm on 2 July 2021, including the signing of further distribution partnerships in South America and South East Asia, and an agreement with Chevron.\n \n \n \n \n \n ·\n InVMA continues to enjoy growing sales and a strong sales pipeline. The global deployment of AssetMinder® has been further aided by\n \n the opening of InVMA's US operation with global professional services firm DEXIS now offering AssetMinder® to customers in Belgium and Fra...