LONDON A company planning to demonstrate technology at the Consumer Electronics Show in Las Vegas in January 2008 to enable viewers to watch recorded TV programs anywhere has received a £600,000 (about $1.2million) investment from Braveheart Investment Group plc. and the Scottish Co-investment Fund.
Inxstor Ltd (Fife, Scotland) was spun-out from Infinite Data Storage (IDS), another Braveheart portfolio company in 2006 and received seed funding of around £400,000 ($800,000). IDS designs portable data storage devices for the consumer electronics market.
'Place-shifting' will allow a user to watch TV shows they usually receive at home, whilst in any location on devices other than TV sets (such as mobile phones). It is an advanced form of time-shifting, where a programme can be recorded and viewed at a time more convenient to the user.
With place-shifting, images and sound from home video equipment are processed into digital signals and transmitted to the new viewing location over the home internet connection.
According to Braveheart, Inxstor's technology is believed to be the only place-shifting solution that allows digital content to be accessed from a remote location in a secure way. The company's products include software to access and transfer the audio and video content from the home, and software to access this content on a mobile device.
The proceeds of the fundraising will provide working capital for Inxstor for the next 12 months, supporting the expansion of its technical team and product development process.
“Mobile technologies are becoming very much more sophisticated. In an increasingly mobile world, we see the demand for place-shifting technology as growing significantly in the future. Inxstor's technology, the only secure product of its kind in the market, offers users the 'next step' on from universally popular applications such as TiVO and Sky Plus,” said Geoffrey Thomson, chief executive of Braveheart.
Tony Combe, CEO at Inxstor, added, “Since spinning out from IDS, we have made good progress in the development of our technology. Content providers need to know that their data is secure and that distribution can be controlled – our technology addresses these key issues. We now have working prototypes and we are in discussions with a number of multi-nationals about rolling out the product.”