Axiomlab plc (“Axiomlab”), the AIM listed regional provider of capital and business building expertise, is pleased to announce that Image Metrics plc, an Axiomlab investee company, providing solutions for the automated interpretation of images and video, has raised circa £2.9m of new money in the form of a mixture of Preference and Ordinary shares from a syndicate of new investors.  This funding represents a considerable uplift in value from Axiomlab’s investment of £601,000. 

Since its investment in Image Metrics approximately 18 months ago, Axiomlab has provided business building support to the start-up entity, helped create the organisational structure, developed the business strategy and assisted in the recruitment of key personnel for the company’s continuing  development.

The new money was provided by a syndicate, largely introduced by Axiomlab, comprising MC Capital Europe (part of Mitsubishi Corporation), Saffron Hill Ventures, and a technology fund managed by Close Brothers Investment Ltd.  This sequence of funding is consistent with  Axiomlab stated strategy of providing seed capital and business building support to create value and reduce risk profile, prior to new independent investors providing further funding for an investee company’s ongoing success.

Contact:

Fred Mendelsohn, Managing Director, Axiomlab on:

07802 738506

Nick Perrett, Marketing Director, Image Metrics on:

07941 201704

Bobby Morse/Catherine Miles, Buchanan Communications on: 020 7466 5000