AuPix secures £525,000
Article Date: Feb 06 2007AuPix, a developer of telecommunications systems, has secured more than £500,000 to develop its business. The Bristol-based company received the funding from a consortium of investors led by private equity provider and venture capitalist YFM Group.
YFM invested £400,000 through two of its managed funds: the South West Ventures Fund and Finance South West Growth Fund. A spokesperson for the group confirmed it had taken an undisclosed minority shareholding in the business.
The balance of the funding (£125,000) was provided by AuPix’s management, existing investors and an undisclosed person.
YFM investment manager Julian Dennard says the group is supporting an experienced technical team operating in a growing market.
The money will assist AuPix in forming agreements with manufacturers to license and integrate its technology into communication devices.
This is YFM’s second involvement in the company following its £150,000 investment in September 2005 through its South West Ventures Fund.
AuPix designs, develops and produces voice and VoIP (Video over Internet Protocol) systems. Its products include a range of medium to large screen video phones and PC-based video phones as well as video PBXs (Private Branch Exchange).
