Ip Share Discussion Threads

[pugugly] 08/3/2023 08:53

Also need to press very hard on the validity of the values attributed to the non quoted investments - One only has to look at the carnage caused by the grossly excessive values claimed by Woodford.

[bamboo2] 08/3/2023 08:24

For the first time in years I will view the presentation later on the recording, rather than live.

If anyone is going to watch, it would be good to again air the question about alignment of shareholders and management interests. Management incentives are measured by NAV, while shareholders have to rely on the share price.

[brucie5] 08/3/2023 08:07

2% dividend. ONT far and away the largest single determinant of NAV, so worth watching.

[babbler] 08/3/2023 07:55

This share is very cheap

[boystown] 08/3/2023 07:29

PTBV 0.436

[bamboo2] 08/3/2023 07:23

FOR RELEASE ON 8 March 2023

("IP Group" or "the Group" or "the Company")

IP Group plc Annual Results Release

Group well financed and focused on delivering returns for stakeholders; resilient portfolio, well-funded & aligned to three world-changing themes

IP Group plc (LSE: IPO), which invests in breakthrough science and innovation companies with the potential to create a better future for all, today announces its annual financial results for the year ended 31 December 2022.

2022 highlights

Significant progress in key themes & companies

-- Regenerative future (Cleantech): Strong return in the period delivered by uplifts at First Light Fusion, which achieved world-first fusion result with 'projectile fusion', externally validated by the UK Atomic Energy Authority; and Oxbotica which completed a $140m Series C financing round at significant uplift

-- Healthier future (Life Sciences): Istesso commenced Phase 2b trial for its lead drug MBS2320 in rheumatoid arthritis; MBS2320 granted Fast Track designation by the US FDA for the treatment of patients with idiopathic pulmonary fibrosis ("IPF") & also designated it an orphan drug for the treatment of IPF

-- Tech-enriched future (Deeptech) : Featurespace, Garrison, SaltPay, Ultraleap all posted double-digit revenue growth; sale of Re:Infer to global leader UiPath, delivering IRR of 29%

Delivering evolved strategy

-- Deeper thematic focus which included the launch of dedicated cleantech platform Kiko Ventures

-- Third-party capital funds under management increased to GBP697m vs GBP575m in 2021, in line with long-term strategy

-- Increased impact, together with Parkwalk, IP Group is one of the largest investors in university and other research-based companies in the world; the most prolific investor in deeptech companies in the UK and the second most prolific in Europe

Well financed & resilient portfolio

-- Strong balance sheet and liquidity to support new and follow-on investment in the portfolio with gross cash and deposits at 31 December 2022 of GBP241.5m (2021: GBP321.9m); total potential liquidity (including quoted shares and undrawn debt) of over GBP500m

-- Loss in the period of GBP344.5m (2021: profit of GBP449.3m). Driven primarily by a reduction in the value of our public companies of GBP428.5m and in the value of ONT in particular, which reduced by GBP369.7m

-- Portfolio companies well-funded; total funds raised by portfolio GBP1.0bn (2021: GBP2.4bn)

-- Private portfolio company valuations remained robust with 90% of our portfolio funding rounds in 2022 taking place at or above previous funding round valuations

-- Recommended final dividend of 0.76p per share to give a total 1.26p for FY22 (interim dividend of 0.50p per share; 2021 total dividend of 1.2p per share), completion of GBP35m share buyback; GBP20.3m total capital returned to shareholders in the year

Post period-end update

-- Appointment of Anita Kidgell, Head of Corporate Strategy at GSK plc, as independent Non-executive Director

-- The fair value of the Group's holdings in listed companies experienced a net fair value decrease of GBP26.2m in the period since 31 December, including ONT decreasing by GBP28.3m.

Summary financials


FY 2022 FY 2021
----------------------------- --------------------- ---------------------
Net Asset Value (NAV) GBP1,376.1m; 132.9pps GBP1,738.1m; 167.0pps
----------------------------- --------------------- ---------------------
Loss/profit Loss of (GBP344.5m) Profit of GBP449.3m
----------------------------- --------------------- ---------------------
Loss/profit excluding ONT (i) Profit of GBP25.2m Profit of GBP202.1m
----------------------------- --------------------- ---------------------
Total portfolio (i) GBP1,258.5m GBP1,507.5m
----------------------------- --------------------- ---------------------
Net portfolio loss/profit (i) GBP309.1m loss GBP499.2m gain
----------------------------- --------------------- ---------------------
Gross cash and deposits (i) GBP241.5m GBP321.9m
----------------------------- --------------------- ---------------------
Realisations GBP28.1m GBP213.9m
----------------------------- --------------------- ---------------------
Portfolio investment (i) GBP93.5m GBP106.8m
----------------------------- --------------------- ---------------------
Total dividend(ii) 1.26pps 1.20pps
----------------------------- --------------------- ---------------------

(i) Note 29 details the Alternative Performance Measures ("APM")
(ii) Total dividend for 2022 subject to approval of final dividend of 0.76pps at the Group's 2023 AGM

Greg Smith, Chief Executive of IP Group, said: "We have continued to see strong commercial progress and interest in our portfolio this year despite the economic headwinds and prevailing geopolitical environment. IP Group is well financed and our strong balance sheet allows us to continue to capitalise on opportunities in the UK and internationally. Our portfolio is also well funded which, together with our decades of experience in supporting fast growing companies, ensures our companies are well-placed to navigate this environment. While the share prices of our publicly listed companies and that of the Group have come under pressure, we remain focussed on generating returns for all stakeholders and are confident that our high-quality portfolio will generate significant value over time."

Webinar

IP Group will host a webinar for analysts and investors today, 8 March, at 10:00am. For more details or to register as a participant please visit

[bamboo2] 08/3/2023 07:05

New website


No results yet!

[bamboo2] 23/2/2023 15:42

Brucie, It's not that surprising.

Hinge health is massive. Can't remember how much.
ONT at £1.8bn

Funding partners have been pouring money into many of these early stage businesses.
[Far more than IPGroup]

[brucie5] 23/2/2023 13:22

Been on my radar for a while, though as yet no position. According to the report last June, of the top 20 holdings listed, just the top nine equate to the total current mcap of the company, which of course includes £235m of cash. I've included the first ten.
The total report document makes fascinating reading.

1. Oxford Nanopore Technologies plc LSE quoted Quoted bid price 226.5
2.First Light Fusion Limited
3. Istesso Limited Puhua Capital DCF 95.6
4. Featurespace Limited
5.Hinge Health,
6. Ultraleap Holdings Limited
7.Garrison Technology
8.Ieso Digital Health Limited
9. Bramble Energy Limited Hydrogen
10. Oxford Science Enterprises plc

However, as an investment proposition, probably best to focus on the top 20, which the company accorded a value of 858m.

And as the company says here -

Top 20 investments consist of the 20 most valuable holdings in the Group’s portfolio by the period-end value. Focus investments are
those investments that are not within the 20 most valuable, but on which the investment teams focus a significant proportion of their
resources and capital. Outside of these companies, the portfolio contains a broad selection of opportunities categorised as ‘other’. Many
of these opportunities are at an early stage, and they typically receive a lower level of capital and management resource.

I believe Neil Woodford was a big fan of these back in the day. It reminds me BTG - anyone remember that? A trove of IP, much of which will probably never make it to market. But I was astounded to read this:

The total value of the Group’s portfolio companies (excluding OSE and CIC, organic investments and de minimis holdings) is approximately £15bn (HY21: £9bn, FY21: £20bn).

WHAT?!!!

[bamboo2] 21/2/2023 22:24

21 Feb 2023

Largest funding round in UK Quantum Computing



Quantum Motion, a UK-based quantum computing scale-up founded by Professor John Morton, UCL, and Professor Simon Benjamin, Oxford University, has raised over £42 million in equity funding from some of the world’s leading quantum and technology investors. The oversubscribed round is led by Bosch Ventures (RBVC) and joined by Porsche Automobil Holding SE (Porsche SE) and British Patient Capital. All existing investors from earlier rounds (Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF) are again participating. This is one of the most significant raises in UK quantum computing and allows Quantum Motion to accelerate its development of silicon quantum processors by developing deeper ties with its manufacturing partners and trebling the size of its central London headquarters.

Quantum computers offer an opportunity for transformative computing power with the potential to disrupt sectors ranging from energy and pharmaceuticals to finance and logistics. Quantum Motion’s vision is to develop scalable quantum computers by harnessing highly advanced silicon transistor manufacturing processes. Over the last two years the company has made a series of peer-reviewed and record-breaking achievements that underline how silicon could be the fastest, most cost-effective and scalable way of producing the millions of qubits that are needed to create fully-functional, fault tolerant quantum computers.

Quantum Motion’s latest funding round brings the total raised to £62 million. The company has previously raised over £20m in equity and grant funding from the UK and EU and existing investors which have supported the company through its early-stage work and growth, enabling it to hit a sequence of milestones that demonstrate a clear path towards building quantum computers. It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to a few tenths of a degree above absolute zero. Recent demonstrations such as the mass characterisation of thousands of multiplexed quantum dots fabricated in a tier one foundry have further underlined the company’s advantage.

James Palles-Dimmock, CEO of Quantum Motion, said, “The support of leading technology investors enables us to realise our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision.”

Investor quotes
Ingo Ramesohl, Managing Director, Bosch Ventures, said, “CMOS based quantum computing leverages on today’s sophisticated chip manufacturing processes and fabs. Quantum Motion has demonstrated that it can take quantum theory out of a lab into the real world to create a scalable path to a quantum future. We’re excited to join the company and break new ground in the years to come.”

Lutz Meschke, board member at Porsche SE, said, “The approach of Quantum Motion has tremendous potential with respect to the cost-effective scalability and wide-spread deployment of quantum computing in many industries. We are looking forward to supporting one of the world’s leading teams in the development and industrialisation of this technology.”

Catherine Lewis La Torre, CEO of British Patient Capital, said: “Quantum Motion blends sector expertise with a unique offering that is pushing the boundaries of quantum computing. Quantum computers will play an essential role in solving challenges that are far beyond the computational capabilities of today’s super computers. We are delighted to be investing in this UK deeptech leader via Future Fund: Breakthrough as the business continues to develop cutting-edge technologies.”

Sam Harman, Investor Director, Oxford Science Enterprises, said, “Quantum Motion is a powerhouse of technical and commercial talent, which has put the UK at the forefront of silicon quantum development globally. We’re proud to have been part of the journey since the beginning, and thrilled to continue our support alongside a strong syndicate of new investors, as the team takes the next step towards realising their end vision.”

Neil Cameron, Investor Director at Parkwalk, said, “Parkwalk, a founder investor in the UK quantum industry, is delighted to follow its investment in Quantum Motion. The team has consistently achieved and even surpassed the planned technical milestones and we are confident that their ground breaking work will only accelerate with this significant increase in funding. We believe quantum computing will transform many industries, and it is essential that the UK is at the forefront of this revolution.”

Industry luminary and Chairman of the board Alberto Sangiovanni-Vincentelli said, “Building a quantum computer using conventional silicon fabrication is a powerful advantage for Quantum Motion and one that has attracted interest from a collection of high-quality investors which will help us deliver our vision. I continue to back the company strongly both in my position as Chair and as an investor in the company and look forward to guiding Quantum Motion as we start the next phase in our growth.”

ENDS

About Quantum Motion
Quantum Motion is developing a revolutionary technology platform; not just a qubit, but a scalable array of qubits based on the ubiquitous silicon technology already used to manufacture the chips in smartphones and computers. The company is developing fault tolerant quantum computing architectures that are compatible with CMOS processes. Fault tolerant quantum processors will support the most powerful quantum algorithms, targeting solutions to currently intractable problems in fields as diverse as chemistry, materials science, medicine and artificial intelligence. The company employs 40 people, comprising specialists in quantum theory, engineering and software.

www.quantummotion.tech

[bamboo2] 21/2/2023 07:11

"VERTIIA" ALL-ELECTRIC AIRCRAFT TAKES MAIDEN FLIGHT IN HISTORIC FIRST FOR AUSTRALIAN AVIATION

Sydney, Australia - 21 February 2023 - Australian green aerospace company AMSL Aero today announced that Vertiia , t he world's most efficient and longest-range Electric Vertical Take Off and Landing (eVTOL) aircraft, has successfully completed its maiden test flight. This is the first ever flight by an Australian-designed and built eVTOL, which is the new generation of aircraft that take off and land like a helicopter but fly like a plane.

Vertiia completed its tethered hover by remote control in the Central West region of New South Wales in strict accordance with Civil Aviation Safety Authority (CASA) regulations.

The flight marks a vital milestone for Vertiia, which has zero carbon emissions and can carry four passengers and a pilot at a cruising speed of 300kph. Vertiia will be able to fly up to 1,000km, three times the range of any eVTOL, which makes it the most efficient eVTOL in the world. AMSL Aero expects to commence deliveries of the Vertiia in 2026 to customers in the aeromedical, cargo, emergency, and regional air mobility sectors.

AMSL Aero CEO and Vertiia inventor Andrew Moore noted that it is nearly 130 years since Australian aeronautical pioneer Lawrence Hargrave invented the box kite, upon which the Vertiia's unique "box wing" design is based. "As Vertiia lifted off, we felt the same rush of adrenaline that Lawrence Hargrave must have felt nearly 130 years ago. The Vertiia prototype flew better than we expected. It was remarkably smooth and a delight to fly," said Moore.

AMSL Aero will now conduct more test flights and begin CASA certification for Vertiia, which is on display at the Avalon International Airshow in Victoria from 28 February to 5 March 2023, as it continues discussions with future customers and builds a sovereign aviation capability for Australia.

According to AMSL Co-Founder Siobhan Lyndon, Vertiia will enable greater access to medical services for vulnerable remote, rural and regional communities, offering new models of care through rapid and low-cost connectivity. "Vertiia is not only safe and quiet, but it was also developed for the harsh long-distance conditions in Australia. If it can work in Australia, it can work anywhere," she said.

Lyndon added: "Unlike aeromedical aeroplanes that require a runway, Vertiia will carry patients directly from any location straight to the hospital, significantly reducing the complexity and time often required to transport vulnerable patients. It will also be quieter and safer than helicopters and will eventually cost as little as a car to maintain and run, transforming aeromedical transport into a far more affordable, accessible, safer and reliable option."

Moore and Lyndon said: "We would like to take this opportunity to thank our talented and committed team, our investors: IP Group Australia, TelstraSuper, Hostplus and St Baker Energy Innovation Fund, and our many key suppliers and contractors throughout Australia who have helped contribute to the development and flight of Vertiia".

[bamboo2] 21/2/2023 07:10

RNSNON
FOR RELEASE ON 21 February 2023

IP Group plc - Australian portfolio company AMSL Aero's all-electric aircraft takes maiden flight

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which develops world-changing science and technology businesses, is pleased to note that Australian portfolio company AMSL Aero has announced that Vertiia has successfully completed its maiden test flight. This is the first ever flight by an Australian-designed and built eVTOL, which is the new generation of aircraft that take off and land like a helicopter but fly like a plane.

Vertiia completed its tethered hover by remote control in the Central West region of New South Wales in strict accordance with Civil Aviation Safety Authority (CASA) regulations.

The flight marks a vital milestone for Vertiia, which has zero carbon emissions and will carry four passengers and a pilot at a cruising speed of 300kph. Vertiia will be able to fly up to 1,000km, three times the range of any eVTOL. AMSL Aero expects to commence deliveries of the Vertiia in 2026 to customers in the aeromedical, cargo, emergency, and regional air mobility sectors.

IP Group Australia has an undiluted holding of 35.2% in AMSL Aero.

The full release follows below.

[bamboo2] 20/2/2023 22:32

Australian flying electric vehicle company AMSL Aero has successfully completed its maiden test flight, saying its Vertiia Electric Vertical Take Off and Landing (eVTOL) Vehicle is the first by an Australian company to get off the ground, and that it is a major milestone in the future of travel.

AMSL Aero is run by husband and wife team Andrew Moore and Siobhan Lyndon, and has previously banked significant funding from investors including IP Group Australia, TelstraSuper, Hostplus, St Baker Energy
Innovation Fund and muru-D.

Its aircraft is one of a new generation of electric vehicles. It takes off and lands like a helicopter, but flies like a plane.

It will initially be targeted at healthcare services, removing the need for sick and injured people in remote areas to be transported to an airstrip, but is touted as a future option for commuters in cities.

“It is just a huge milestone, it’s a little bit like getting a rocket off the launchpad – it’s a really big deal,” Mr Moore said of the test flight, which was conducted by remote control in the Central West of NSW.

“There is always a degree of uncertainty, because you can do all sorts of modelling, lots of analysis and lots of ground testing, but the way the aircraft behaves when it first breaks free from the earth always has a certain level of unpredictability.”

The test flight was conducted with tethers to the ground, to comply with requirements of the Civil Aviation Safety Authority, and avert danger from any unexpected problems.

Internationally AMSL Aero’s most obvious competitor is Joby Aviation, which acquired Uber’s flying taxi division in 2020. Uber had been spruiking plans to launch flying taxis in Australia, before selling its loss-making division.

Two US operators, Blade and BETA, launched electric air taxi trial flights in New York last week. Mr Moore said Vertiia was the most advanced and efficient eVTOL in development, and was targeting longer distance travel than international rivals.

It will carry a pilot and four passengers at around 300 kilometres an hour, and have a 240-kilometre range on battery power, while also being equipped with hydrogen power, which will extend that to 1000km.

This would make it ideal for medical care flights. Patients in remote areas often have to suffer journeys on the back of a ute, on uncovered bumpy roads, to reach an airstrip to be flown for treatment.

AMSL Aero expects to commence deliveries of the Vertiia in 2026 to customers in the aeromedical, cargo, emergency and regional air mobility sectors.

Further capital
“Taxi operation is one use, and there’s lots of people throughout Sydney, Melbourne and Brisbane who would love to see their commute shortened significantly by flying from their home directly to work,” Mr Moore said.

“That’s a great aspiration, but there’s a lot of things that need to fall into place before that will happen.”

Over the next few years the company plans to move through further research and development phases, from prototype to a product certified by the safety regulator. It will also look to raise further capital to support this.

Mr Moore, a former helicopter engineer for the Royal Australian Navy, said Vertiia would ultimately be a much cheaper, more environmentally sound (with zero emissions) and safer option for regular travel.

“Helicopters have lots of single points of failure, so a single maintenance error on a multi-engine helicopter can lead to it crashing,” he said.

“Vertiia and eVTOL aircraft use what’s known as distributed electric propulsion, and that allows you to manage failures in a way similar to how a 747 or a large transport aircraft manages failures.

“So they can tolerate many failures, and still land safely ... So really a small eVTOL aircraft can provide the levels of safety that you see in those really large airliners.”

The company employs about 35 people, mostly engineers, with its headquarters at Bankstown airport south-west of Sydney. Its flight test facilities are in Wellington, near Dubbo in NSW.

Ms Lyndon, previously an executive at Google, said she was unbowed by operating as a small Aussie company in a sector populated by international tech giants.

“It’s not a product you can create in a short timeframe and just launch, so there is less competition ... I think it is as simple as having the best product,” she said.

“I think we have the winning product, and it is showing already with the demonstration of the hover, so that is how we will compete.”

[bamboo2] 17/2/2023 09:14

Startups try to turn laser fusion success into clean power plants.

Following in footsteps of National Ignition Facility, companies aim to trigger rapid-fire fusion blasts.
15 FEB 2023 BY DANIEL CLERY

"...First Light Fusion is taking an even more radical approach: dispensing with lasers entirely and relying on a high-speed projectile to implode the fuel. Founder Nick Hawker was inspired by his Ph.D. on the physics of the pistol shrimp, which snaps its oversized claw to emit shock waves capable of incapacitating fish bigger than itself. The company, based in the United Kingdom near Oxford, is firing projectiles from an electromagnetic gun at up to 20 kilometers per second to smash a small metal cube with a fuel capsule embedded inside. The cube has a complex internal structure of different metals that speeds and channels the resulting shock wave, wrapping it around the central capsule to compress the fuel.

“It’s a geometry optimization problem,” Hawker says, noting the targets don’t require any unusual or expensive materials. With modeling and experiment, the team is working to get the best spherical compression from its unidirectional driver. The company announced last month it will start building a new machine next year. The goal is to demonstrate energy gain by hammering targets with projectiles traveling at 60 kilometers per second..."

use link for complete article.

[p1nkfish] 16/2/2023 16:19

Let's hope it generates wealth for the whole of the UK as well as help the environment.

[bamboo2] 16/2/2023 15:28

London, 16 February 2023

Kiko Ventures joins Cleantech for UK coalition to supercharge UK cleantech, supported by Breakthrough Energy

On 15th February, Kiko Ventures joined other leading cleantech accelerators and investors in the UK, with combined funds of over £6 billion, founding a coalition to help inform and shape a new initiative, called Cleantech for UK. This initiative, which aims to pave the way for a new generation of global cleantech champions in the UK, is supported by Breakthrough Energy and organised by Cleantech Group.

The participants were joined by Bill Gates and UK PM Rishi Sunak for the launch event, where they discussed how to create the next generation of global cleantech champions in the UK.

“The UK has all the ingredients to become a major player in the global push to build our net-zero emissions future, including world-class research facilities and forward-looking investors. I am confident that the Cleantech for UK coalition will become a key bridge between cleantech investors, innovators and policy makers,” said Ann Mettler, Vice President for Europe at Breakthrough Energy.

UK cleantech venture capital investment was £3.2 billion in 2022, equalling the record-breaking amounts of 2021. This is especially remarkable in a cooling global venture capital climate. But as other countries enact increasingly ambitious climate packages such as the Inflation Reduction Act (IRA) in the USA, and the Net Zero Industry Act in the EU, the UK must go further and faster to maintain competitiveness. The UK would have to spend a total of £36bn to reach the GDP equivalent of the IRA.

“As the most active cleantech VC in the UK for the last decade, we know how much innovation there is in Britain for climate solutions. However, big cleantech innovations need all stakeholders to work together to make them a reality. Cleantech for UK will help set the agenda and make the connections needed so that cleantech innovation can thrive.”, said Arne Morteani, Founding Partner at Kiko Ventures.

The Cleantech for UK coalition’s objective is to supercharge UK cleantech innovation. The UK is home to excellent scientific research and a thriving innovation scene. But this world-leading capability is not consistently translated into world-leading cleantech scale-ups.

“To secure the enormous benefits on offer to those brave enough to lead the transformation of our industrialised economies to cleaner, decarbonised and resource-efficient versions of themselves will require innovation in all facets,” said Richard Youngman, CEO, Cleantech Group. “Yes, technological, but equally in financial instruments and in policy-making. I believe a period of intense dialogue, experimentation and hyper-collaboration is needed for the UK to deliver on its net zero goals, its economic growth ambitions, and its national security.”

Founding members of the coalition are: Imperial College London’s cleantech accelerator Undaunted, Clean Growth Fund (cleantech venture capital investor), Kiko Ventures (cleantech venture capital investor), Breakthrough Energy Ventures (cleantech venture capital investor), Just Climate (climate-led investor), Legal & General Capital (alternative asset platform). The work of the coalition will be facilitated by Cleantech for UK.

Cleantech for UK is a new initiative to establish a dialogue between the UK’s policy-making community and those living the reality of creating, incubating, investing in and scaling cleantech companies. Cleantech for UK is powered by Cleantech Group and supported by Breakthrough Energy. Similar programmes in continental Europe include Cleantech for Europe, Cleantech for France, Tech for Net Zero Allianz, Cleantech for Nordics and Cleantech for Baltics.

[bamboo2] 16/2/2023 12:15

Lumai lands £1.1m grant to achieve ‘world’s fastest computation’ and power the AI revolution.

BY TIM SMITH 15 FEBRUARY 2023

Today the UK government’s national innovation agency — Innovate UK — has awarded a £1.1m grant to Oxford-based optical computing startup Lumai, another sign that governments are increasingly investing in the strategic tech of the future. The startup says its technology will deliver computation speeds that are “orders of magnitude” faster than anything else out there.

Lumai is building optical computing technology that it says will deliver 10^17 operations per second (that’s a 10 with 17 zeroes after it). For comparison, US graphic cards company NVIDIA’s most powerful graphics processing unit (GPU) does just over 100trn, or 10^14, operations per second.

Lumai’s founder and CEO Tim Weil says that these kinds of speeds will be “transformational” for the AI industry — and that his company plans to sell to both high-performance computing providers and to bigger AI companies that need to train off of large datasets.

How the tech works...

[bamboo2] 16/2/2023 12:06

Audioscenic - Kicks Off 2023 With Series a Round Investment and Industry Recognition at CES
15 Feb 2023

Innovative spatial audio brand Audioscenic looks to the future with increased resources and ambitious design roadmap


SOUTHAMPTON, UNITED KINGDOM, 15th February 2023 – Audioscenic, developers of innovative 3D audio beamforming technology, has completed its Series A investment round led by Foresight Ventures and including Hostplus, IP Group, and FWT. The announcement, on the back of the launch of the first consumer product featuring the brand’s technology at CES, the Razer Leviathan V2 Pro soundbar, signals a promising year ahead for the company as it continues to explore consumer applications for its forward-thinking approach to spatial audio.

“We would like to welcome our new investors to Audioscenic and would also like to say a huge thank you to our existing investors for their past and continued support,” said Audioscenic’s CEO David Monteith. “The completion of our A round positions us perfectly to drive the adoption of Audioscenic’s technology into multiple markets in parallel. The value of the company has already grown by more than ten times since it started operations in 2019, and we are very excited to be in a position to share the implications of this technology with the world in the form of accessible, consumer-focused products that will redefine how we experience spatial audio.”



“The team at Audioscenic has made tremendous progress in the last twelve months, culminating in the successful launch of the Razer product at CES 2023,” said Managing Director of Foresight Ventures Richard Lewis. “We are delighted to support Audioscenic in the current Series A round and we look forward to working with David and the team in the coming years.”



The Razer Leviathan V2 Pro is the first product on the market to implement Audioscenic’s unique 3D audio beamforming technology and captured 12 ‘Best of CES’ awards from publications such as The Verge, Engadget, TechRadar, and PC Gamer among others. The soundbar is but the first in a series of planned implementations of the technology that will add a new dimension of audio experience, to otherwise commonly available audio sources, including laptops and car audio systems.



“Previous attempts to bring spatial audio to everyday consumers have often come with a high price tag and large amounts of supporting equipment that aren’t practical,” said Dr Marcos Simon, Audioscenic’s CTO and Co-Founder. “Our 3D audio beamforming technology can be implemented in form factors that are familiar to consumers – soundbars, laptops, built-in speakers, etc – while still giving an elevated level of experience that was not previously achievable. The Razer Leviathan V2 Pro is a crucial first step for Audioscenic, and we’re eager to take more of them in the coming years as we explore different product applications for our technology.”

[bamboo2] 11/2/2023 15:40

FOR RELEASE ON 10 February 2023

IP Group plc - Notice of results

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), which develops world-changing science and technology businesses across life sciences, technology and cleantech , announces that it intends to publish its annual financial results for the year ended 31 December 2022 on Wednesday 08 March 2023.

The results will be available via the London Stock Exchange's Regulatory News Service (RNS) and on the Investor Relations section of the company's website at www.ipgroupplc.com.

Key members of IP Group plc's leadership team will provide a live presentation via the Investor Meet Company platform on 08 March 2023 at 10:00am BST.

Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free via:

.

Investors who already follow IP Group on the Investor Meet Company platform will automatically be invited.

[bamboo2] 11/2/2023 15:30

Hi p1nk, I just posted Friday morning's Hambro Perks rns as they were previously linked to IPGroup.

Interesting to know that they have £150m+ burning a hole in their pocket, also that they have had trouble deploying it. They are seemingly looking for one investment in the healthcare sector.

[p1nkfish] 10/2/2023 11:02

The AZN news about new factory is indicative of a slow change happening. Unless something changes radically more life sciences, even at early stage, will head off-shore.

Taxes far too high, lack of leadership across the board.

Call me a stuck record but IPO management is indicative. Too cosy, no consequences, comfortable. Hence moribund.

Just mho, worth what you paid for it.

[p1nkfish] 10/2/2023 08:27

Can't see IPO management being interested in any such idea. Too cosy.

[bamboo2] 10/2/2023 08:01

For info. Hambro Perks look to extend investment deadline.

===============================================================

10 February 2023

Hambro Perks Acquisition Company Limited

Proposed Extension of Business Combination Deadline

Proposed Amendment of Articles of Incorporation

Publication of Circular and Notice of Extraordinary General Meeting in connection with the extension of Business Combination Deadline

Hambro Perks Acquisition Company Limited (LSE: HPA1) ("HPAC" or the "Company"), a special purpose acquisition company formed to focus on a Business Combination with a European technology-enabled business, announces today that it is seeking shareholder approval to extend the deadline by which it may seek a business combination to 30 November 2023.

Key Highlights

-- HPAC is seeking shareholder approval to extend its initial Business Combination deadline by nine months from 28 February 2023 to 30 November 2023 to allow sufficient time to complete a Business Combination.

-- As at the date of this announcement, the Company is not in sufficiently advanced discussions with any potential targets to enable Shareholders to consider and vote on a potential Business Combination.

-- The Articles permit an initial three-month extension period, followed by a further three-month extension period, with the approval of an Ordinary Resolution of the holders of all Ordinary Shares.

-- However, the Board considers that these permitted extensions are unlikely to provide sufficient time to permit the Company to evaluate alternative target companies, to agree terms on a potential business combination and to seek agreement on financing requirements.

-- Accordingly, the Company is convening an EGM to be held at 11:30 a.m. on 28 February 2023 to consider, and if thought fit, to approve the Business Combination Extension to 30 November 2023 by way of an amendment to the Articles.

Dominic Perks, Chief Executive Officer of HPAC, said : "The past 12 months brought unique and challenging circumstances to public equity markets overall, and SPACs are no exception. The market environment was not conducive to completing a business combination, resulting in the need for an extension, though the Board sees significant potential for opportunities ahead of the proposed new deadline. We remain enthusiastic on the prospects for a business combination and have been encouraged by the conversations we have had and are having with companies interested in a combination."

[brucie5] 09/2/2023 12:55

Can you post the note? TiA.

[houseofpain1] 09/2/2023 11:54

Berenberg still positive on IP Group. See 125% upside - catalysts are upcoming funding rounds for FLF, Istesso and Featurespace and improved share price performance at ONT (where they also see considerable upside - 180%). Estimated discount to current NAV of c60%. Hope they're right!!