Business
Follow on Investment in Traak
Follow on Investment in Traak.
About this update from Truetide Plc
[{"type":"text","content":"\n RNS Number : 0921P Braveheart Investment Group plc 19 March 2009 \n \n19 March 2009\n\nBraveheart Investment Group plc\n('Braveheart' or 'the Group')\nFollow-on Investment in Traak Systems Limited\n\nBraveheart (AIM: BRH), the technology commercialisation and investment management company, announces that it has made a follow on investment of £150,000 into Traak Systems Ltd ('Traak'), a spin-out from the University of Edinburgh. The funding is Braveheart's ninth investment from its Alpha EIS Fund.\n\nFounded in late 2005, Traak is developing a range of radio frequency identification ('RFID') and sensor based services and solutions. Its technology is particularly relevant to large enterprises looking to maximise the business value of raw RFID and sensor network data. RFID enables companies to track individual items or vehicles, store additional data and scan multiple items at one time. RFID is commonly used for a wide variety of applications, such as payment systems (Oyster cards on London Underground), access control (new-style UK and US passports) and retail (Wal-Mart uses RFID to monitor its supply chain).\n\nTraak's patent pending technology has previously received grant support from SMART:Scotland. The company has strong links with the University of Edinburgh and other leading universities and is working with a number of world class partners including Motorola, Microsoft, Oracle and Ekahau. Traak is also proud to be a member of the global standards organisation GS1, which maintains the EPC global standards for RFID.\n\nThis new round of funding will help Traak further develop its core technology and offer a number of dashboards for different industries. It will also allow the company to explore new partnership opportunities.\n\nCommenting, Chief Executive of Braveheart, Geoffrey Thompon, said, 'Traak Systems has developed novel technology in a fast expanding arena and has already forged commercial partnerships. We are delighted to be able to support Traak in making the next step towards developing and commercialising its technology.'\n\nColin Balfour, CEO of Traak added, 'We are at an exciting point in Traak's development and have a numb...