Deals in 2004
Funded by Northern Venture Managers
Iris Technology Limited – ICON secures £1m investment for advanced telemetry company.
ICON has successfully advised the management of IRIS Technology Limited on raising a further £1 million equity investment from Northern Venture Managers.
IRIS specialises in Technology for the transmission of data from remote platforms such as moving vehicles or underwater systems. Its product is based upon its Integrated Remote Intelligence System which can transfer large volumes of real time data over a single link directly into its clients' own IT systems. This technology is particularly important for the automotive industry, where it can be used to give cost-effective information in pre and post production vehicle testing. It is currently the only data transfer platform that is accredited by the Vehicle Certification Agency and that has EC 95/96 approval.
IRIS recently won a number of major new contracts and the investment will be used to ramp up the scale of operations accordingly.