RSS

Spiral funding provides gateway to market

Article Date:  Apr 15 2008 Mark Dunne

An Edinburgh-based computer processing technology developer has received a boost after securing a six-figure sum from a consortium of new and existing investors. Spiral Gateway, which is creating a method for computers to process multimedia, wireless and broadband tasks, has received £730,000.

The funding was led by returning investor Braveheart, a technology-focused financier. It was joined in the syndicate by Imperial Innovations, Bank of Scotland Corporate and the Scottish Co-investment Fund.

Braveheart chief executive Geoffrey Thomson says the company’s technology could be sold to several markets when fully developed.

Spiral aims to incorporate its technology on to silicon chips and will initially target the image signal processing market, a function required in every camera-enabled mobile phone.

The company was founded in 2004 as a spin-out from Edinburgh University. It has a licence with the institution for the rights to its reconfigurable instruction cell architecture technology and recently released a silicon-based prototype of the technology to market its product to the image signal processing market.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Trying to raise business finance?

The Vistage Guide to Raising Finance in The New Economy. It tells you what your options are and how best to present your case for business finance. Simply visit www.neweconomyblog.co.uk/rf2 to request your free copy.

Hiscox Business Insurance 

Life’s full of uncertainties, but you never want to be in any doubt about your business insurance. Hiscox offers broad and inclusive business insurance available online. You can tailor a policy to suit your business needs from a broad range of covers. Find out more.

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Fundraising Deals

Kromek raises Series D round

A Durham University spin-out with technology to help detect terrorist threats is now valued at £52 million following a fourth round of financing.

ControlCircle raises £6 million

A company which manages data centres and internet connections for websites including KPMG and Rightmove has raised £6 million in growth capital.

HG Tech Fund opens for investment

A new fund is being launched under the Enterprise Investment Scheme (EIS), planning to secure tax breaks for its investors by backing growing companies.

Advertisement

Related articles

Funding boost for ethical retailer

EthicalSuperstore.com, a Newcastle-based retailer of fair trade and ethical goods, has received £1 million in a third round of venture capital (VC) financing. The funding round, which brings total investment in the company to more than £2 million, was led by existing backer NorthStar Equity Investors (NSEI).

Spice is right for Mono

A provider of utility support services has strengthened its business in the northwest after buying a rival firm. Spice has expanded its offering to social landlords, housing associations and local authorities through the addition of Mono Services to its business.

Funding for Gateshead firm’s pipe dream

A northeast-based pipeline inspection company is set to continue its international growth after securing a six-figure investment. Durham Pipeline Technology, which already has distributors and agents in the Middle East, North America and Australia, will use its £500,000 windfall to expand its network further.

Management buys Hamilton Rentals

The management team at an IT and audio-visual equipment rental company has bought the business in a bid to drive its growth. Hamilton Rentals has been acquired by a team led by managing director Martin O’Connor with the backing of Royal Bank of Scotland (RBS).

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • Green packaging business raises £6.1 million

    Rapid Action Packaging has secured £6.1 million of equity and debt finance, mainly from AIM-listed investment company Ludgate Environmental Fund. The company, which designs and manufactures ‘environmentally responsible’ packaging, will use the funding to refinance existing debt and expand its business overseas.

  • Insurance group taps banks for £150 million

    UK-headquartered insurance and reinsurance group Brit Insurance Holdings has secured a revolving credit facility of £150 million led by the Royal Bank of Scotland. The FTSE 250 company says the five-year syndicated facility will help grow its domestic and international business operations.

  • More funding for sewage treatment venture

    Eco-Solids International, a developer of technologies for treating sewage sludge, has received follow-on funding from AIM-listed investment company Low Carbon Accelerator (LCA). The firm is contributing £750,000, bringing its total investment in Eco-Solids to £1.6 million.

  • UCL spin-out raises £1 million

    Domainex, a biopharmaceutical spin-out from University College London (UCL), has raised £1 million to develop its contract research business and commercialise its drug discovery projects. The funding round was led by healthcare-focused venture capital firm Longbow Capital, which contributed £790,000, bringing its total investment in Domainex to £1.15 million.

  • New VC fund to focus on life sciences

    Fountain Healthcare Partners, a Dublin-headquartered venture capitalist (VC), has closed its inaugural fund at €75 million (£59 million). Most of the money will be invested in the life science sector in Europe, with a primary focus on Ireland.

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More