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NEW MOBILE PHONE TECHNOLOGY WINS FURTHER INVESTMENT

28/01/2004

"This underlines NESTA's ability and willingness to continue to back early-stage ventures that show demonstrable commercial promise."

NESTA has invested a further £150,000 from its Invention and Innovation programme alongside other investors in the round including the Cambridge University Venture Capital Fund and Federated Trust Corporation. Hypertag was advised by Village Capital and Eversheds. The funding comes on the back of some significant success over the last quarter from early campaigns in the advertising market - a campaign for Hewlett Packard is currently running in London. Hypertag was also recently awarded a contract to install their 'Magus Guide' system into three visitor attractions in the UK.

Hypertag was founded in 2001 by four Cambridge University Engineering graduates specifically to work on developing technology for people to benefit from quick and easy access to location-specific information. Utilising the latest wireless communications technology, the small electronic 'Hypertag' can be attached to any information display surface, such as an advertising panel, museum exhibit or in-store promotion. Consumers simply point and click their mobile phone at the display to access information or content, such as a game or promotional voucher, tailored to the location and context of the display.

Hypertag CEO, Jonathan Morgan, said: "It's fantastic news that NESTA has underlined its confidence in Hypertag by investing further. We are now focused on accelerating sales over the coming months."

Mark White, NESTA Invention & Innovation Director, added: "We were delighted to lead on this second funding round which not only illustrates NESTA's commitment to Hypertag and the commercialisation of innovation in the UK more widely, but it also underlines our ability and willingness to continue to back early-stage ventures that show demonstrable commercial promise."