Tuesday, January 6, 2015

IP Group invests in Exyn Technologies, founded by Vijay Kumar

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.

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