Business
Further Investment in Traak S
Further Investment in Traak S.
About this update from Truetide Plc
[{"type":"text","content":"\n RNS Number : 9136R Braveheart Investment Group plc 01 September 2010 \n \n\n1 September 2010\n \n \n \nBraveheart Investment Group plc\nFurther Investment in Traak Systems Ltd\n \nBraveheart (AIM: BRH), the technology commercialisation and investment management company, today announces that it has made its third investment into Traak Systems Ltd ('Traak' or 'the Company'). The c£170,000 package comprised funds from Braveheart and its clients, other private individuals and Scottish Enterprise's Scottish Co-investment Fund.\n \nTraak was formed in 2005 to address an emerging need in the marketplace for a solution to manage the increasing amount of data generated from a growing number of sources such as radio frequency identification (RFID) and sensor networks. Traak's software engine can be applied to a wide range of applications where there is an urgent need to sense and respond, in real time, to critical and dynamic situations and environments. Examples are the energy sector, including renewables and smart metering, and urban traffic management and transportation. \nThe amount of information created from various sources such as RFID and sensor networks is expected to increase significantly. For example real time environmental sensing is growing rapidly and Gartner predicts that by the end of 2012, physical sensors will create 20% of non-video internet traffic. Traak's solution to this problem is a software engine to process data intelligently at the periphery of the network using complex event processing (CEP) algorithms. The Company has demonstrated how CEP can be used to intelligently process large volumes of data in real time and its first product is currently available for customers in selected industries.\nThe funding will provide working capital in order to complete the product development, launch the product for select customers and develop commercial partner relationships.\n \nCommenting, Geoffrey Thomson, Braveheart Chief Executive said: \"This further investment into Traak demonstrates not only our continued confidence in the Company's technology and management, but also our ongoing commitment to support our most promising portfolio companies.\"\n \nColin Balfour, CEO of Traak added, \"With a strong management team, innovative solutions and continued support from Bravehe...