Enterprise Ventures invests in gaming technology
NORTH WEST investment fund manager Enterprise Ventures has invested in a Bradford University spin-out company through its RisingStars Growth Fund.
Tangentix, which is based in Sheffield, was set up to commercialise 3D graphic modelling technology that came out of the University of Bradford’s School of Computing, Informatics and Media.
The patented technology uses mathematical models that have the potential to improve the graphics of video games and movies, as well as changing the way they are implemented in consumer electronics, according to the company.
It said the technology could be applied to industries ranging from game production and distribution, through to the silicon devices used in computers and consoles.
The value of the funding round by the Preston-based venture capital fund manager was not disclosed, but it also included investment from South Yorkshire Investment Fund’s Seedcorn Fund.
Tangentix’s Professor Hassan Ugail said: “We approached a number of investors looking for help to explore the potential of our technology. EV provided invaluable assistance in exploring the alternative commercial routes going forward, and have helped to identify a number of high calibre and specialised individuals to wrk alongside the team to help pursue those routes.
“EV’s investment has given us the opportunity to explore our technology and I really do believe that no other investor would have taken such a keen interest in the company and its technology at this proof of concept stage.”
Ed French, investment director at Enterprise Ventures, added: “As specialist technology investors, EV likes to support companies with potential especially where we are able to get involved to help at the very earliest stages of development which is very much RisingStars’ focus.
“We look forward to continuing to support Tangentix through the challenges of taking its groundbreaking concept through to the commercialisation stage.
“We are excited by the broad scope and potential value of Tangentix – Hassan and his team have taken a completely different approach and their technology has applications in a number of markets.”
