Triangle raises EUR4.1m for iOpener

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Triangle Venture Capital Group has raised EUR4.1m in a series A financing for real-time game engine company iOpener. It is the first venture capital-backed European Space Agency (ESA) spin-off in satellite applications. The contact was sourced through the investor's network and contacts to ESA.

iOpener has developed a technology to map real-world competitions such as Formula 1 to an artificial world, allowing gamers to participate in the race virtually and in real time. Its first product is based on innovations from ESA, which allow the efficient transmission of telemetric data from a plurality of moving objects and their mapping into the game's virtual world. The trend of increasing interactivity in gaming supports the product.

ESA's Technology Transfer Programme Office supported iOpener during 2007. The new funding enables the company to build and expand distribution and further develop products after its prototype, called Real Time Engine. New funding is likely to be sought towards the end of 2009.