Axiomlab plc (“Axiomlab”), the AIM listed regional provider of capital and business building expertise, today announces that it has made a strategic investment in iBase Image Systems Ltd (“iBase” or “the Company”), a digital image management business based in Ilkley, Yorkshire. Axiomlab has invested £250,000 in return for a 22.3% equity stake. This investment has been simultaneously led with a syndication of strategic investors led by Enterprise Venture Capital Trust (“Enterprise VCT”) together with funds managed by Gartmore and MTI. Prior to this round of investment, approximately £5m of venture capital had been invested in the business.

iBase was founded in 1993 to meet the emerging market requirement for high quality image database systems. To date, iBase has focussed on supplying digital asset management services and software to the corporate and heritage sector, with particular intellectual property in the compression of high quality imaging.  The software has required over 80 man years of development time and customers include the British Library, Tate Gallery, the Imperial War Museum, British Airways, Christies and One 2 One.

Commenting on the investment in iBase, Fred Mendelsohn, Managing Director of Axiomlab, said: 

“iBase is an advanced business with a strong sales pipeline. We look forward to supporting Brendan Flattery, iBase’s Chief Executive, and are delighted to have had the opportunity of investing at this critical point of the Company’s development. Axiomlab is also pleased to be linked with high quality co-investors such as Enterprise VCT, Gartmore, and MTI. iBase is complementary to our investment in Image-Metrics, which was our first investment in the growing imaging space, a sector in which we see the potential for significant investment returns.’’