Several new deals over the summer of 2012, which haven’t had official press releases – CamStent, Lumejet, Radio Physics Solutions, Cambridge CMOS Sensors
Two more due in Otober 2012.
Friday 23rd March, 2012
iSotera receives £1.1m investment to launch intelligent LED lighting system
Cambridge-based lighting network company iSotera has closed a £1.1m funding round led by Qi3 Accelerator.
iSotera’s intelligent LED lighting system squeezes the best possible energy efficiency from LED lights, and makes installation far more affordable. This lowers the cost of ownership and encourages accelerated adoption of ‘green’ LED lighting and automated lighting controls.
iSotera’s system will revolutionise the installation of energy-efficient lighting systems by making it faster, cheaper and safer for electrical contractors to install and for facility managers to maintain. The system is based on novel power distribution architecture and features contactless power transfer. It provides a durable lighting infrastructure in buildings and outdoors whilst reducing capital costs by 30-50% and reducing electronic waste by as much as 60%.
iSotera is working in partnership with key players in the global lighting supply chain to offer end-to-end solutions to contractors and system integrators. The company will use the funds to expand the team, launch its first suite of products and generate revenues.
Having met iSotera’s founder Marc Ottolini in Cambridge, Paul Anson, Tim de Vere Green and Nathan Hill of Qi3 Accelerator offered to work with iSotera to bring together a syndicate. This broad group includes investors from Qi3 Accelerator, the Low Carbon Innovation Fund (LCIF) (part funded by the EU), Moonray Investors, Synergy Energy, London Business Angels and the LBA EIS Roundtable Syndicate Fund, Martlet, Cambridge Angels, Cambridge Capital Group and Surrey Investment Club.
iSotera’s CEO Marc Ottolini said: “With the completion of this funding round we shall now implement our mission, which is to turn iSotera into the default network infrastructure of intelligent lighting, the invisible part of the system that makes it all work. I am delighted to have a group of investors behind us who had the vision to back us at this early stage. Qi3 Accelerator did amazing work to pull this large syndicate together and LCIF’s involvement was a great encouragement for other investors to join. The end result is not only the money but also a high calibre Board. During the many months that we have been working together on this deal we have gelled as a team, allowing us to make a running start. I hope that our efforts will further strengthen the power electronics cluster in Cambridge.”
Qi3 Accelerator’s Paul Anson who led the syndicate said “our focus is investment in the resurgence of British High Value Manufacturing and Engineering businesses. We have brought together the skills and financial resources of a wide range of investors with technology and business experience, all of whom share an excitement in the prospects for iSotera’s smart LED lighting network. We have worked with Marc for over a year to develop the business plan, structure the Board and management team to deliver success. The advent of LED lighting is an established trend – iSotera’s novel power distribution and control system will squeeze the best possible energy efficiency from these lights and reduce the cost of ownership. I look forward to iSotera’s product launch later this year’.
Advisors to the transaction included Harrison Clark, Taylor Vinters, Mills and Reeve and Gill, Jennings and Every. Peter Cowley and 42 Technology provided technical due diligence and design support.
Arachnys raises seed round led by Cambridge investors, including Martlet
CAMBRIDGE, 14 December 2011
Arachnys (http://www.arachnys.com), a UK technology startup which makes tools for business compliance and security in emerging markets, today announced that it has raised a seed round led by Peter Cowley of Martlet and participated in by Cambridge and London-based angels including Cambridge Capital Group and Cambridge Angels.
Arachnys’s tools help international financial institutions, corporations and professional services firms operating in emerging markets perform higher-quality, more effective online research across languages and data silos. The company provides a cloud-based application that consolidates search results from high-quality news, corporate and governmental sources across emerging markets.
David Buxton, Arachnys’s CEO said, “There is huge demand for a service that allows international investors to really get under the skin of emerging markets to find crucial business information. Current online research tools perform very badly in emerging markets, especially countries where the main business language is not English. This investment will enable us to provide information in niche markets from Albania to Uzbekistan, but also in major investment destinations and private banking markets like India.”
Peter Cowley, Arachnys non-executive director and active angel investor said “David and his team provided a compelling investment pitch and I quickly gathered a significant number of investors keen to participate in the success. I joined the board both to represent the angel group and contribute to the company’s growth.”
Buxton previously worked at leading international security consultancy Control Risks as an investigator. He is a specialist in Russia and CIS countries’ business and political environments and has provided advice to FTSE 100 CEOs and major financial institutions on operational risk, compliance and anti-corruption in Russia, Ukraine and other former Soviet countries.
Currently Arachnys’s systems are being used by analysts in the City of London and other global financial centres for compliance, security and risk management research, but the company plans to offer broader research products including regular news alerts across emerging markets in 2012.
Please address all enquiries to David Buxton, CEO, at email@example.com
17th August 2011
As first published in www.businessweekly.co.uk
A young Cambridge technology company has secured major new investment from angel funders and revealed its first export order – a signature deal with a client in the US defence sector.
Pasmarine has secured undisclosed investment from Martlet, Marshall of Cambridge’s new fund and other Cambridge angels to take its funding in just over two years to more than £1/2 million.
The breakthrough US contract promises to be the springboard to further global orders for the company’s remote management system for generators and other plant.
CEO Simon Albury used funding from the sale of 3Way Networks, where he was a co-founder, to found Pasmarine and its subsidiaries, Telgenco and Milgenco.
Together the businesses target the telecoms, military & defence and marine sectors.
David Cleevely, chairman of Cambridge Wireless and other leading companies, is also Pasmarine’s chairman and Sir Michael Marshall was an early investor; the Marshall-led Martlet fund’s involvement in the new round therefore completes a virtuous circle.
Based at Cambridge Business Park, Pasmarine handles all R & D and manufacture of software and hardware from different bases in the UK; with a small team engineers, it practises what it preaches by working remotely. The team has a background in telecoms, aerospace, defence and F1 motorsport.
The company plans to raise more money next year through debt to underpin global product rollout, but Albury says that the business is not cash intensive.
Pasmarine’s technology enables operators of multiple gensets (generator sets) to keep track of large numbers of remotely deployed plant from a single, centralised location.
Benefits of this remote monitoring capability include reduced cost, improved maintenance and resilience and better security, according to Albury. Its proprietary system monitors engines in a whole range of machinery. Some multiple users have thousands of gensets; these can easily be damaged or vandalised. Or they break down because of age deterioration or poor maintenance – maybe no-one has changed the fuel or oil levels, for example.
Pasmarine’s advanced telemetry enables operators to monitor their plant wirelessly or through fixed systems or backhaul. Albury said: “3Way Networks was an exciting business and I get a similar buzz from Pasmarine. We have just started shipping product and the US order is a super start.
“When we sold 3Way I determined to try something away from telecoms but the inertia kind of pulls you back in. Machine2Machine is a massive and growing market. Just as a very significant proportion of the world’s population are inter-connected with each other, so in a few years time a significant proportion of machines around the world will be.
“The technology has so many application areas – industrial, telecoms, military & defence, marine – and also has a role to play in the renewable energy segment due to its CleanTech credentials.”
1st August 2011
PsychologyOnline raises Cambridge Angels investment to delivery talking therapies online
PsychologyOnline, the innovative provider of online cognitive behavioural therapy (CBT) has secured Cambridge Angels funding to develop a new technology that could save the NHS millions and set a new paradigm for the treatment of mental illness, revolutionising treatment of depression, anxiety and other disorders.
PsychologyOnline is the brainchild of two experienced Chartered Psychologists, Sue Wright and Nadine Field. The effectiveness of their innovative approach was demonstrated in 300 patient clinical trial published in The Lancet in 2009.
PsychologyOnline’s CEO, experienced healthcare and software professional Barnaby Perks, said: “A great deal of government money is going into cognitive behavioural therapy (CBT) as mental illness costs the economy more than £100 billion each year. But there are several problems with face-to-face CBT. Patients face long waiting lists. Even if they navigate that problem there is the issue of poor accessibility due to timing and transport barriers. Our solution is fast and efficient. We can deliver discrete therapy on demand to patients in the comfort of their homes at a time that suits them. It’s also effective. We conducted a 300-patient trial with the University of Bristol that showed online therapy to be as effective as face-to-face treatment. In fact, a large number of patients felt they were better able to be more candid about their mental illness using the internet for therapy.”
PsychologyOnline therapy is delivered in a secure online virtual meeting room by a network of UK trained and accredited freelance Chartered Psychologists. While most live in the UK, some live overseas. This allows PsychologyOnline to enrich its service with a diversity of languages and extends the times at which sessions can take place.
The Cambridge Angels investment consortium includes Martlet, the new angel fund launched by Marshall of Cambridge. Martlet Investment Director Peter Cowley said that PsychologyOnline offers a highly innovative approach to a major and costly problem for the NHS. “It is novel that you don’t need a critical building to perform the therapy; patients can go online in a home environment which should open up treatment for a much larger number of sufferers.”
Trials of PsychologyOnline in the NHS will start in the next few months.
Contact: Barnaby Perks, CEO, PsychologyOnline – firstname.lastname@example.org
1st July 2011
Martlet and Cambridge Angels join DFJ Esprit and IQ Capital in providing £8.0m for Neul to provide Machine to Machine communications in TV “white space”
Helping to underpin several wireless data trials already underway, including the trial announced on 27th June 2011 by the ‘Cambridge Consortium’ of the BBC, BSkyB, BT, Cambridge Consultants, Microsoft, Neul, Nokia, Samsung, Spectrum Bridge and TTP, looking at how unused TV spectrum – TV white spaces – could help satisfy the escalating demand for wireless internet connectivity Cambridge, UK, 30th June 2011 – Neul, a company offering products and services for the globally-emerging TV white space spectrum, today announced it has raised $12.8million (£8.0m) from a syndicate of investors led by European venture capital firm DFJ Esprit and including IQ Capital, Cambridge Angels and Martlet. The founders and employees have also made a significant contribution. Neul will unify the fragmented world of Machine-to-Machine (M2M) communications with the world’s first white space radio system and a new, open M2M communications standard, re-defining wireless data communications. Neul will shortly launch the new standard called “Weightless”. Neul’s white space wireless technology will enable a range of services and applications, from the predicted 50 billion connected Machine-to-Machine (M2M) devices, through smart metering to local broadband delivery, transportation and personal health devices. Neul Chief Executive James Collier said, “This investment will allow Neul to further expand its leadership position in fully compliant white space wireless systems. It is a real pleasure to be working with one of the leading investors in wireless technology in Europe, DFJ Esprit.” Simon Cook, CEO DFJ Esprit, said, “Having worked with the founders in their last venture, I am excited to be working again with the team that have pioneered game changing wireless technology in Europe. They have an exciting vision, and with endless applications of the Neul network it will truly set a new standard for wireless communications.” Phil O’Donovan of the Cambridge Angels and lead angel for the angel group added, “We also are delighted to invest in this significant new global wireless opportunity being enabled by the very well positioned Neul team.” Peter Cowley, Investment Director, of Martlet said “This is the first investment of the newly formed division of Marshall of Cambridge and we are very excited by the prospect of helping a great team in what will be a market, with explosive growth potential” Neul announced its first product on 13th June 2011, NeulNET (http://www.neul.com/neul-pr-130611.php ), which is the first radio system specifically designed for TV white space that meets all FCC/Ofcom regulations. This allows networks to operate safely and legally within TV white space.
About Neul The name Neul is pronounced like ‘fuel’ and is from the Gaelic word for ‘Cloud’. Neul was formed in Cambridge, UK in 2010 by a group of entrepreneurs with an impressive track record. The core management team was responsible for building Europe’s most successful fabless semiconductor company, CSR. Neul aims to unify the fragmented world of Machine-to-Machine (M2M) communications, with the world’s first white space radio system and a new, open M2M communications standard. Neul is transforming wireless data communications by slashing the cost of the spectrum, base stations and the terminals needed to set up wide area wireless networks. This will enable our customers to build networks and applications that offer completely new kinds of devices, services and business models. Neul’s grand vision is to bring about a revolution in the way devices and applications communicate. From the predicted 50 billion connected Machine-to-Machine (M2M) devices, through smart metering to local broadband delivery, transportation and beyond, Neul is helping to create ‘the internet of everything’.
4th April 2011
Martlet – Marshall of Cambridge accelerates Corporate Angel Investment
Marshall of Cambridge announces the formation of Martlet, a corporate angel initiative. After several successful investments in start-up companies, Martlet has been formed to expand on that opportunity. Marshall has appointed Peter Cowley, a seasoned mentor/angel investor to head up Martlet as investment director. Each year, Martlet will invest in several early-stage companies with high growth potential, as co-investees with other angels and seed funds.
Investments will be made primarily in companies within Greater Cambridge and East Anglia at an early stage, with sums of £25,000 to £100,000 being invested in each selected opportunity. Martlet will not be concentrating on specific market sectors, and will invest in a variety of entrepreneurial people and teams with an idea, an identified market, a recognised monetisation opportunity and excellent growth potential.
Robert Marshall, Chief Operating Officer of Marshall, said: “We are very excited to be able to support some of the many excellent local start-ups. We are very pleased that Peter Cowley will head up the new division. We anticipate contributing further to the growth of the UK economy”
Peter Cowley, Martlet Investment Director, said: “I have been involved in my own Cambridge-based start-up companies and mentoring/investing in start-ups for many years. My connections within the angel community will provide excellent potential deal leads, and we are keen to hear from other entrepreneurs that are looking for investment.”
Martlet has already identified several investment opportunities and welcomes new introductions from local entrepreneurs who are seeking early stage funding.
– E N D S –
Marshall of Cambridge Founded in 1909 with little capital as a chauffeur drive company in Cambridge, Marshall moved into the retail motor business in 1910 and entered the aviation business in 1929. With all its growth funded by ploughed-back profits, the Marshall Group remains a privately owned family Company, with a turnover of around £1bn per annum. The Group of Companies is chaired by the third generation of the Marshall family, and employs members of the fourth generation. The Group currently employs just over 4,500 people working in the fields of aerospace engineering; design and manufacture of specialist vehicle applications, military mobility shelters and hospital surgical units; motor vehicle sales and after sales support; refrigerated transport sales and support; and property ownership and management.
Marshall is the second largest privately owned Motor Group in the UK and was the recipient of 10 Major National Awards in 2010. Since 2009, it has added 27 businesses to the Group, which amounted to 9 new motor brands. Marshall Aerospace, which enjoys an international reputation for the quality of its work, is the largest privately owned Aviation Maintenance, Repair and Overhaul Business in the UK, with extensive Design facilities; this business looks after Hercules aircraft of the RAF, and those of numerous other nations. Marshall Land Systems is also a “world class” company specialising in high technology mobility solutions. See www.marshallgroup.co.uk
Peter Cowley has a Cambridge University degree in Engineering and Computing Science, lived in Bavaria for five years and owns technology and construction businesses. Peter has personally been investing in high growth start-ups for many years and is a board member of the Cambridge Angels. He has run the Computing Laboratory Ring mentoring scheme for eight years and is chair of the ideaSpace supporter group. He has been treasurer and chair of several charities in the advice, healthcare and education sectors. See www.linkedin.com/in/plcowley