Frontier IP Group - Portfolio news – Elute Intelligence raises £250k
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - Elute Intelligence raises
Frontier IP, a specialist in commercialising intellectual property, notes the following announcement from portfolio company Elute Intelligence Holdings Limited ("Elute" or the "Company") that it has successfully raised
The investment, made by private investors in return for a 10 per cent equity stake, values the Company at
Proceeds from the fundraising will be used to support Elute's recently launched Patent Reader and development of an enterprise search tool based on the same underlying technology, which uses forensic linguistics to speed searches through unstructured document datasets.
Elute was incorporated in 2019 from an existing
Elute Intelligence statement begins:
Elute Intelligence completes
Elute Intelligence Holdings Limited ("Elute" or the "Company") announces it has successfully raised
The investment from private investors will support commercialisation of Elute's recently launched Patent Reader product and development of an enterprise search product using the same underlying document reading and search technology.
The Company's software searches, compares and analyses documents to identify similarities between them using algorithms based on forensic linguistics, which mimic the way people read.
Users can use any text as the basis for a search, including whole documents, to identify the most relevant information within a library, whether it is a collection of patents or unstructured enterprise documents.
This means the approach is very different to conventional keyword or Boolean search technologies.
Elute Intelligence Holdings statement ends
Frontier IP Group Plc
T: 020 7332 2338
Company website: www.frontierip.co.uk
M: 07464 546 025
Allenby Capital Limited (Nominated Adviser)
T: 0203 328 5656
ABout frontier IP Group
Frontier IP unites science, finance and industry to build businesses based on outstanding research. It identifies strong intellectual property and accelerates its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.
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