Sharp focus to Kodak venturing activity in region
Kodak European Research at Cambridge Science Park has reported a deluge of interest in its venturing activities.Kodak European Research at Cambridge Science Park has reported a deluge of interest in its venturing activities.
Eastman Kodak has established its European headquarters in Cambridge and in January we revealed that a major plank of the operation’s brief was to identify the hottest technology start-ups locally and report the best investment prospects back to the company’s US-based venturing arm.
That has caught the imagination of the area’s young tech start-ups according to the company’s director of European research, Dr Sam Weller.
He said: “We are now receiving approaches for start-ups seeking investment on a weekly, if not daily, basis and are in very active dialogue with a number of companies. This has become significantly more frequent since January.
“Unfortunately there is no well of capital in Cambridge, so the final investment decision remains with the corporate organisation in the US. We have made a number of recommendations and we await the outcome.
Business Weekly understands that one of the local companies on Kodak’s radar is single-chip ultrawideband pioneer, Artimi. Artimi is seeking to close a $20m Series B financing by Q3 of this year. We understand the companies are in dialogue.
Kodak’s investment initiative caps a frenetic week of new funding initiatives in Cambridge.