Video Phone company secures second round venture capital funding
The YFM Group has confirmed a further investment of £400,000 in AuPix Ltd, a Bristol-based company that develops state-of-the-art video communications solutions.
The investment was provided by two YFM Group managed funds; the South West Ventures Fund and Finance South West Growth Fund. Management, existing investors and a private investor also invested a further £125,000.
The YFM Group first invested in AuPix in September 2005. Since then AuPix, who designs, develops and produces high quality, affordable voice and video over IP (internet protocol) communications solutions, has responded innovatively to the dramatic growth of the voice over IP market. This growth is fueling an increasing acceptance and demand for video over IP.
AuPix has an on-going product roadmap that includes a range of medium to large screen video phones; screen phones and PC based video phones as well as video PBXs (Private Branch Exchange).
The funding from YFM Group will assist AuPix in developing the OEM (original equipment manufacturer) market whereby it enters into agreements with OEM partners who will license and integrate AuPix’s technology into their own telephony devices.
Graham Brown, managing director of AuPix said: “This is an exciting time for the video telephony market and we believe our rich technology platform and our experience, coupled with our on-going product development, puts us at the forefront of this specialist and complex sector. Third parties can purchase products or license technologies from us that will enable them to provide their own audio and video products and solutions.
“We are delighted to have the support and backing of the YFM Group as this investment will enable us to develop dual sales strategies with a number of potential OEM partners.”
Julian Dennard, investment manager with YFM Group said: “This second round funding for AuPix is a great opportunity to support an experienced team with excellent technical knowledge. AuPix has a high quality and specialist technology platform in a rapidly evolving market.”