Braveheart backs Traak to tune of £100k

Published on Tuesday 21 August 2007 12:15

BRAVEHEART, the Scottish technology investor headed by Geoffrey Thomson, has pumped £100,000 into University of Edinburgh spinout firm Traak Systems.

It is the seventh investment Braveheart has made from its Alpha EIS Fund.

Traak, which was founded in late 2005, is developing intelligent self-learning radio frequency identification ('RFID') and sensor network products and services for the efficient processing of data in the growing RFID sector.

RFID allows businesses to track individual items or vehicles, store additional data and scan multiple items at one time, improving supply chain efficiencies and reducing waste and theft. Use of the technology is growing so rapidly that the volume of information on RFID networks, experts believe, it could cripple existing networks.

Traak's software filters out "unwanted noise" on the networks easing the processing of raw RFID data. This allows essential data to be transformed into meaningful information in real time. Braveheart's investment will provide working capital to complete the development and foster partnering and licensing opportunities.