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Scottish technology company Optoscribe receives £1.2m investment

 

 

Archangel Investors, the prominent business angel investment syndicate, announces today (25th April, 2016) the completion of an initial £1.2 million round of fundraising for Optoscribe, a Livingston-based optical technology business.

 

The fundraising was led by Archangels, who provided £825,000 of funding, supported by Par Equity, the Edinburgh venture capital firm, with £325,000 of investment, and Scottish Investment Bank (SIB) who invested £50,000.

 

Optoscribe was founded in 2010 as a spin out business from Heriot Watt University and has developed unique technology for use inside communications systems for the data communications, telecoms and mobile phone markets. This potentially disruptive technology enables Optoscribe to produce high performance glass products that connect optical fibres with arrays of emitters or receivers where space is limited and high bandwidth connectivity is essential.

 

Optoscribe already has development contracts with a range of well-known technology companies and supplies its products worldwide to these companies for research and development purposes. The newly invested funds will be used by Optoscribe to invest in manufacturing facilities to allow it to scale the business and capitalise on the opportunities for its technology, with a particular focus on its FCX product line that is targeted at the data communications market.

 

Nicholas Psaila, CEO of Optoscribe, said:

“This investment round will enable a significant transformation of Optoscribe, allowing the company to substantially increase its capabilities through hiring further experienced staff and expanding our manufacturing facilities.  The investment is a tremendous boost to the company, and we are excited to be embarking on a new phase of growth.”

 

David Ovens, Chief Operating Officer at Archangels, said:

“Supporting Scottish businesses to generate economic growth, innovate and create high value, sustainable jobs is what Archangels is all about. Optoscribe is an impressive business with innovative technology that has the potential to disrupt the market in which it is used and underline Scotland’s reputation in technological development. Our members were clearly impressed by Optoscribe’s potential as this fundraising round was significantly oversubscribed and we look forward to supporting the business further as it grows.”

 

Robert Higginson of Par Equity said:

“Optoscribe is selling into a very large and fast growing market, and one which is quick to adopt new technologies that reduce costs or increase capacity.  Although Optoscribe is still a young company, the route to commercialisation in its sector is accelerated by strong customer pull for technological progress. When combined with the development agreements the company has with banner names in its industry and the quality of the people involved, we are excited to play a part in the company’s future.”

 

70% of high earners consider VCTs and EIS as pension alternatives

 

In a recent survey of High Net Worth investors conducted by Wealth Club (the high net-worth investor service) 70% of respondents said they plan to invest in Venture Capital Trusts (VCTs), Enterprise Investment Schemes (EIS) or Seed Enterprise Investment Schemes (SEIS) this year. This is in direct response to their curtailed pension contribution limits. As a reminder those earning over £150,000 will see pensions contribution limits reduced to as little as £10,000 per tax year.

 

Ben Yearsley, Investment Director, Wealth Club:

With the introduction of the new restrictive pension rules on 6 April, investors are looking for alternative ways to invest tax efficiently for their future. VCTs and EIS could be the major beneficiaries as 70% of respondents to Wealth Club’s recent survey said they would look to invest.

 

Key findings

 

70% of respondents will look to invest in VCTs, EIS, or SEIS

38% haven’t invested before in VCTs, EIS or SEIS

49% of high earners won’t make further pension contributions

63% of those not making further pension contributions will make VCT, EIS or SEIS investments instead.

 

The third bullet point is interesting in that nearly half of high earners who invested in pensions in the past will not make any pension contributions in future. Two recent rule changes affect many high earners in respect of pension savings. Firstly the tapered annual contribution allowance limiting high earners to as little as £10,000 per annum and secondly the reduction in the annual lifetime allowance to £1 million. VCTs and other tax advantageous schemes investing in small, unquoted companies are the alternative of choice.

 

Ben Yearsley:

A high earner could invest £1.3 million this tax year in VCTs, EIS and SEIS and receive an income tax rebate of £410,000. No wonder many high earners are considering these options when the annual pension contribution allowance could be as low as £10,000.

 

Below is a handy table showing the tax benefits and annual investment limits for Venture Capital Trusts (VCTs), Enterprise Investment Schemes (EIS) and Seed EIS.

 

 

 

 

 

Construction gets underway on Innovation Birmingham’s Universities Centre

 

Construction work has commenced on a purpose-designed centre on land within Innovation Birmingham Campus’ Faraday Wharf site. The Universities Centre, which is being delivered by Midlands headquartered Thomas Vale Construction Ltd, a Bouygues UK company, will be utilised to make it easier for SMEs to engage with Birmingham’s five universities.

 

The Centre will create an additional 5,812 sq ft of enterprise space, which will act as a detached extension of the site’s Faraday Wharf building. Over half of the space in the new facility will be dedicated to flexible co-working, with the remainder purpose-designed for training sessions and events. It will also feature state-of-the-art communications equipment, with all five universities in Birmingham benefitting from high definition video conferencing suites as part of the project.

 

The Universities Centre, which received a Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP) award of £2.49m Local Growth Fund grant, is set to open in September 2016. It is the second of five new developments totalling £30 million planned on the Innovation Birmingham Campus and follows the first building iCentrum, a 42,149 sq ft digital and tech incubation centre which opened on 1st April and provides the optimum environment for innovative collaboration.

 

Dr David Hardman MBE, CEO of Innovation Birmingham said: “The Universities Centre will be a significant addition to our expanding Campus and will help support existing and new  initiatives that Birmingham’s five universities already have in place to promote active engagement between innovators and educators in the city.

 

“The start of work on-site so soon after the completion of iCentrum marks another exciting milestone for Innovation Birmingham Campus and we look forward to working with Thomas Vale Construction to successfully deliver the next stage of our ongoing development plans.”

 

Significant investment has ensured the Innovation Birmingham Campus benefits from a 30Gbit/s broadband service – equalling the fastest internet connection available anywhere in the UK.

 

For more information on Innovation Birmingham, please visit www.innovationbham.com.

 

 

 

 

Global business icons invest $15 million in revolutionary Unlockd technology

 

Ad & content funded Telco platform to launch in UK and Asia after Sprint Telecom deal in the USA

 

Australian mobile technology start-up Unlockd has closed its $AU15 million Series A Round from some of the biggest names in the business community, ahead of it’s second major market launch in the UK.

 

Unlockd’s financing saw increased investment from early strategic backers including PLC Ventures (Lead by Jeff Emmanuel), Peter Gammell (Non-Exec Seven West Media) and Sam Mostyn (Board member of Virgin Australia and Citibank).

 

The company has also attracted high profile new investors including Radek Sali (CEO, Swisse Wellness) and Greg Roebuck (CEO/ Founder ofcarsales.com.au).

 

The investment comes as Unlockd prepares to launch in the UK market, following a successful launch in the US with Boost Mobile (Subsidiary Sprint Telecom) in late January. The launch will see Unlockd’s technology offered to more than 20m million customers across the two countries.

 

Unlockd has also signed term sheets with other Telcos around the world, including some of Asia’s most significant phone carriers, and expects to be active in more than five international markets by the end of 2016.

 

Unlockd CEO and co-founder Matt Berriman said the company’s international expansion and increasing support from investors was validation of its innovative solution is helping solve one of the biggest challenges faced by telecommunications companies around the world.

 

“The Telco industry is facing a continual decline in ARPU’s (average revenue per user), at the same time as growing competition to keep prices low for consumers. This is due in part to the massive increase in data usage per user, as smartphones become the screen for browsing, playing games and viewing content,” Mr Berriman said.

 

"Unlockd has built a world-class, simple innovation that helps to solve a key challenge facing the telecoms industry, that of falling ARPU’s. It was this intelligent, first to market solution that particularly attracted me - it places Unlockd in a unique a position to positively change the global telecommunications industry.” 

Unlockd ensures carriers can stabilise or increase their ARPUs through new revenue streams while also giving their customers rewards and helping keep their phone bills down.

 

Radek Sali CEO, Swisse Wellness, said: “Unlockd’s smart ads can be customised by the user’s preferences, location and time of day to make sure the content displayed is relevant and valuable”.

 

Mobile advertising spend is expected to surpass $US100 billion globally and £4.58 billion in the UK, in 2016 (eMarketer, April 2015 and March 2016). Accounting for more than half of all digital ad revenue globally. Unlockd is helping telco companies finally secure a share of that mobile ad revenue via its ad and content funded platform.