Business
Further Investment in Elonics
Further Investment in Elonics.
About this update from Truetide Plc
[{"type":"text","content":"\n RNS Number : 1632S Braveheart Investment Group plc 06 September 2010 \n \n\n6 September 2010 \n \n \n \nBraveheart Investment Group plc\nFurther Investment in Elonics Ltd\n \nBraveheart (AIM: BRH), the technology commercialisation and investment management company, today announces that it has made a further investment into Livingston-based Elonics Ltd ('Elonics' or 'the Company'). The investment, by Braveheart and its clients, was part of a £6.1m funding round led by Scottish Equity Partners. Octopus Investments, the Scottish Venture Fund and Sir Tom Farmer also contributed to the funding, alongside other private investors.\n \nElonics was founded in 2003 as a fabless mixed-signal semiconductor company specialising in the design and development of multi-band radio frequency (RF) silicon tuners for use in high volume consumer electronics applications in the broadcast TV industry. RF tuners can be found at the core of every television receiver and are important for picture quality. The Elonics tuner is flexible in that it can be digitally re-programmed post-manufacture to accommodate different broadcast frequencies. The platform architecture behind the technology is referred to as 'DigitalTune' and this allows the performance of the tuner to be adjusted according to signal conditions and enables the electronics manufacturers to improve reception quality while supporting multiple broadcast standards.\n \nThe Company is addressing a high growth opportunity in the broadcast TV industry, with the market for RF tuners worth an estimated $1bn in 2013, fuelled by the digital TV revolution and the increase in TV on wide range of consumer devices. The current product roadmap is focused on tuners for mains powered appliances in the home such as PCs, TVs and set top boxes. Elonics' first product, the E4000 for PC-TV applications, is currently in production, to be followed by a second product, the E4005, for standard definition TVs and set-top boxes, which is in the final stages of development.\n \nProceeds from the financing will be used to fund additional sales and marketing activity, and to roll-out the product roadmap.\n \nGeoffrey Thomson, Braveheart Chief Executive said: \"\"This is a significant fund raising and an important milestone for Elonics. We are pleased that the business is now ...