IP Group, a UK-based developer of intellectual property based businesses, has agreed to provide initial capital of up to $1,000,000 for a significant minority stake in Exyn Technologies Inc., a drone aircraft development start-up founded by TerraSwarm PI Vijay Kumar at the University of Pennsylvania.According to The Telegraph and IP Group's news page, the initial capital will be provided in tranches subject to the successful attainment of commercial and technical milestones. This is IP Group’s first spin-out with a US university.
The TerraSwarm Research Center Blog covers news items about the TerraSwarm Research Center at http://www.terraswarm.org. The TerraSwarm Research Center, launched on January 15, 2013, is addressing the huge potential (and associated risks) of pervasive integration of smart, networked sensors and actuators into our connected world. The center is funded by the STARnet phase of the Focus Center Research Program (FCRP) administered by the Semiconductor Research Corporation (SRC).
Tuesday, January 6, 2015
IP Group invests in Exyn Technologies, founded by Vijay Kumar
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