Injection of £730,000 boosts Spiral Gateway

Published on Monday 14 April 2008 22:08

A COMPANY spun out from Edinburgh University has attracted fresh funding of £730,000 as it looks to sell its technology to mobile phone manufacturers.

Spiral Gateway, which was founded in 2004, is developing a processing platform that will cope with multimedia, wireless and broadband computing tasks.

It is aiming to incorporate the technology on to silicon chips and will initially target the image signal processing (ISP) market. ISP is required in every camera phone.

The third-round funding was led by Perth investment group Braveheart, alongside Imperial Innovations, Bank of Scotland Corporate and Scottish Enterprise's co-investment fund.

Graham Townsend, of Spiral Gateway, said: "Braveheart has an excellent background in supporting early-stage technology companies and we are pleased they have recognised the continuing potential of our technology.

"We are looking forward to strengthening our relationship with our investors as we develop our technology to a commercial level."

Braveheart chief executive Geoffrey Thomson added: "We are pleased to be able to demonstrate our commitment to the company.

"This is the first occasion where we have invested alongside Imperial Innovations and we are delighted to be working with them."

The investment is the fourth to be announced by Braveheart in as many weeks. The Aim-listed company was set up in 1997.