Video phone company secures second round Venture Capital funding
January 2007
The YFM Group has confirmed a further investment of £400,000 in AuPix Ltd, a Bristol-based company that develops state-of-the-art video communications solutions.
The investment was provided by two YFM Group managed funds; the South West Ventures Fund and Finance South West Growth Fund. Management, existing investors and a private investor also invested a further £125,000.
The YFM Group first invested in AuPix in September 2005. Since then AuPix, who designs, develops and produces high quality, affordable voice and video over IP (internet protocol) communications solutions, has responded innovatively to the dramatic growth of the voice over IP market. This growth is fueling an increasing acceptance and demand for video over IP.
AuPix has an on-going product roadmap that includes a range of medium to large screen video phones; screen phones and PC based video phones as well as video PBXs (Private Branch Exchange).
The funding from YFM Group will assist AuPix in developing the OEM (original equipment manufacturer) market whereby it enters into agreements with OEM partners who will license and integrate AuPix’s technology into their own telephony devices.
Graham Brown, managing director of AuPix said: “This is an exciting time for the video telephony market and we believe our rich technology platform and our experience, coupled with our on-going product development, puts us at the forefront of this specialist and complex sector. Third parties can purchase products or license technologies from us that will enable them to provide their own audio and video products and solutions.
“We are delighted to have the support and backing of the YFM Group as this investment will enable us to develop dual sales strategies with a number of potential OEM partners.”
Julian Dennard, investment manager with YFM Group said: “This second round funding for AuPix is a great opportunity to support an experienced team with excellent technical knowledge. AuPix has a high quality and specialist technology platform in a rapidly evolving market.”
NOTES TO EDITORS:
AuPix Limited
AuPix Ltd was established in February 2005 to acquire all of the Intellectual Property Rights (IPR) and the assets of the mm745 IP Videophone from the SCOTTY Group plc, formerly Motion Media plc. AuPix Ltd designs, develops and produces voice and video solutions over IP for business, Government, health and educational sectors.
Core strengths include video and audio compression expertise and techniques. This expertise manifests itself in own label video phones, video kiosks, video servers and other products as well as enabling integration of its technology into OEM partners’ devices and products.
For further information please contact Graham Brown on 01275 371700. Website – www.AuPix.com
YFM Group : The South West Ventures Fund
YFM Group – is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £250 million of funds with investment sizes ranging from £50,000 to £5 million. Principal offices are located in Leeds, Manchester, London and Bristol with over 40 investment professionals being employed across the UK.
The YFM Group managed South West Ventures Fund is a £25M fund that has been set up to provide venture capital to small and medium sized enterprises (SMEs) based in the South West of England. Initial investment can be up to £250,000 with an ability to invest a further £250,000 after six months. In certain circumstances, alongside other new investors, the Fund can follow on its investments to provide a total of £2.5 million to one company. To date the fund has invested £3.25m in 15 companies.
South West Ventures Fund is managed by YFM Venture Finance Limited part of the YFM Group. YFM Venture Finance Limited is authorised and regulated by the Financial Services Authority.
For further information about YFM Group and South West Ventures Fund, please telephone 0117 906 3410, log on to www.southwestventuresfund.co.uk or email info@southwestventuresfund.co.uk
Finance South West
Finance South West is a business finance company with its head office in Plymouth. It works with businesses in the European Objective Two area of the South West that need finance to start, grow or change ownership. The Objective Two area includes Plymouth, West Devon, Torridge, North Devon, South Hams, and parts of Torbay, Bristol, Mid Devon and West Somerset.
The South West Growth Fund can invest up to £1m and that since launching in 2005 the Growth Fund has made 7 investments for a total of £2.6m
Its speciality is to fill gaps in funding that the banks and others cannot meet. It provides the missing piece of finance that allows a commercially viable project to move ahead, and works closely with the banks, accountants and other funders.
Regulatory Notice – Finance South West
Finance Southwest Funds comprise two Funds, namely the South West Growth Fund, which is managed by YFM Venture Finance Limited, and the South West Business Loan Fund, which is jointly managed by Enterprise Plymouth Limited and Finance Cornwall Fund Managers Limited.
Both YFM Venture Finance and Finance Cornwall Fund Managers are authorised and regulated by the Financial Services Authority. Enterprise Plymouth is not regulated by the Financial Services Authority. Finance South West also provides services, including Gateway to Finance and Gateway to Success, which are not subject to FSA regulation.