Axiomlab plc (“Axiomlab”), the AIM listed regional provider of capital and business building expertise, is pleased to announce an investment in Tenison Technology EDA. Axiomlab has invested £260,000 for 13% of the equity together with an option over a further 3%. Axiomlab formed a syndicate including Sigma Technology Venture Fund (a fund managed by Sigma Technology Group plc), Robert Sansom and Providence Investment Company Limited which invested a total of approximately £700,000. Robert Sansom will join the Board as non-executive Chairman and Fred Mendelsohn of Axiomlab and Dr. Keith Monserrat, a director of Sigma Technology Group plc, will join as non-executive directors.

Tenison, founded by Dr David Greaves in 2000, is a spin out from the University of Cambridge’s Computer Laboratories. Tenison designs software that enables hardware and software engineers to work together when developing microchips. Tenison has developed proprietary software, "VTOC", which is targeted at reducing the cost and time to market for semiconductor design by allowing embedded software groups to work closely with hardware design teams. An early release of VTOC has been in use at 11 companies worldwide. The funding will be used to launch VTOC into the North American and European markets.

The Tenison management team has considerable technology start-up experience. Chief Scientist, Dr David Greaves, previously co-founded Virata, a chip design company, which was acquired in 2001 for $545 million. Dr Robert Sansom, co-founded Fore Systems in 1990 and helped build it to $600 million revenues before the company was sold for $4.5 billion in 1999. CEO, Jeremy Bennett, was most recently VP Solution Sales for Marconi, having previously held senior management positions in marketing and engineering. Chief Technology Officer, Dr William Stoye, has 15 years of experience in managing hardware/software projects in Cambridge hi-tech firms.