Funding boost for video games technology firm

Pix: Shaun Flannery/shaunflanneryphotography.com...COPYRIGHT PICTURE>>SHAUN FLANNERY>01302-570814>>07778315553>>..26th April 2013..Finance Yorkshire - Tangentix..Electric Works, Sheffield, Digital campus, Sheffield, S1 2BJ..Pictured L-R Ed French, Chief Executive of Tangentix, with Darren Morris from Finance Yorkshire's Equity Linked team and Ashwin Kumaraswamy from Finance Yorkshire's Seedorn Fund.
Pix: Shaun Flannery/shaunflanneryphotography.com...COPYRIGHT PICTURE>>SHAUN FLANNERY>01302-570814>>07778315553>>..26th April 2013..Finance Yorkshire - Tangentix..Electric Works, Sheffield, Digital campus, Sheffield, S1 2BJ..Pictured L-R Ed French, Chief Executive of Tangentix, with Darren Morris from Finance Yorkshire's Equity Linked team and Ashwin Kumaraswamy from Finance Yorkshire's Seedorn Fund.
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Video games technology expert Tangentix has secured £1.4million worth of backing to fund its growth.

The company, based at the Electric Works on Sheffield’s Digital campus, is a leading developer of advanced compression and distribution technology, which 3D video games companies use to cut download times.

Tangentix is gaining global recognition from games publishers, operators of digital distribution systems and gamers and recently showcased its latest innovations at the Game Developers Conference in San Francisco.

The company has developed a suite of tools and patents covering compression of all of the main components of a video game. Typically, Tangentix technology compresses a game to one third of its original size, while retaining the same high quality.

Finance Yorkshire has provided a total of £750,000 from its Equity Linked and Seedcorn Funds and other investors include RisingStars Growth Fund II and ParkWalk Advisors.

Tangentix’s chief executive, Edward French, said : “The funding marks a major milestone for Tangentix.

“We believe the growing size of games is a real challenge for publishers and gamers, and so we can now show the world what we’ve developed to address the problem, while also providing a great new way for gamers to discover new games.”

Darren Morris from Finance Yorkshire’s Equity Linked team added: “The global 3D video gaming market is huge and the technology Tangentix has developed represents a step change in downloading top quality 3D video games. The company is in a strong position to exploit the global demand to download games.”