Octopus invests £275,000 in TouchType

Funds were provided from the Octopus Titan VCT funds, the Eureka EIS Portfolio Service and the Octopus Venture Partners program. Further funds have been earmarked for follow-on funding.

Octopus Ventures foresees the predictive text entry market to grow rapidly in the near future. The VCT says it was also impressed by the management's quality and vision for the business.

Founded in 2008, London-based TouchType is a developer of predictive text entry software. Its core product Fluency is able to accurately predict what a user intends to write,and was designed to boost user writing efficiency by up to 50% compared to a standard QWERTY keyboard. TouchType secured its first contract with a phone manufacturer earlier in 2010, with negotiations with other manufacturers underway.

This represents the 19th transaction for Octopus Investments this year.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

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