Active DSP (Norway) - Jan 2008

Proventure Seed has invested NOK 6m in Active DSP, a Trondheim-based software company. The investor was attracted to the deal due to the market potential of the company’s technology. The investment will be used to scale up sales and marketing initiatives to commercialise the software and to further build partnerships. Proventure is prepared to inject additional capital if the company requires more resources to reach its goals. Additional financial backing is conditional on scheduled strategic milestones being met.

Company

The company delivers DSP software tools for use in program development for microcontrollers and digital signal processors and in testing and monitoring stages of programs. The software is based on RS-232 communication and supports C2000 and MSP430 processors from a partnership with Texas Instruments. The first product, DSPComm, is a tailor-made software solution to be used with Texas Instruments’ TMS320F28xx and MSP430 processors. The company was established in 2006.

People

The business was founded by CEO Jarl Karlsen and William Gullvik. Proventure Seed partner Thor Egil Five is chairman of the board of directors.

Advisers

Equity - Ernst & Young, (Financial Due Diligence)Equity - Vogt & Wiig, (Legal)

Sourced from: Nordic unquote" 71 (Feb 2008)

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