Black Pearls LQT Fund’s first investment
In 2014, the world’s market of RFID (Radio Freaquency Identification) security was worth 8,89 billion $. This year, the number may increase to 27,31 billion $. The potential was recognized by Black Pearls VC managing Black Pearls LQT Fund and ARP Venture, which invested in Plurimum Seal & Security together.
The project of polycarbonate security seals equipped with radio identification module (RFID) was invented by Konrad Futera, a PhD student on the Warsaw University of Technology. The new seals are going to automate the process of controlling security, which will improve work in many branches ranging from logistics to energy and fuel production. Their additional advantage is extraordinary durability.
Plurimum Seal & Security is the first investment of Black Pearls LQT Fund as part of BRIdge Alfa program run by The National Centre for Reseach and Development (NCBiR). It was created in order to refine and commercialize the R&D project of security seals, which is now in a prototypical phase. However, the investors are sure that the ready-made product would be implemented on an international market.
It is worth-mentioning that the ARP Venture’s presence would enable Plurimum to join ARP Ecosystem. Thanks to that, Plurimum will broaden its business network, gain clients and trusted partners – said Marcin Kowalik, managing partner in Black Pearls VC.
Until the end of 2015, Black Pearls LQT Fund is going to invest in at least two other projects. Right now, the managing team is working with several teams and verifying the market and technological potential of new solutions. Among new projects, there is one concentrated on developing the technology of recognizing human’s emotions in order to improve the quality of life for various target audience. This technology may be used in security, medicine or marketing.
Black Pearls LQT Fund will invest PLN 20 000 000 in the commercialization of R&D projects by Polish scientists. Life improving technologies (Life Quality Technologies, LQT) are most likely to obtain financial support . The Fund assumes a three-year investment plan. Funding is supported by co-investor – Maciej Grabski – an experienced entrepreneur, investor and business angel and the National Research and Development Centre under the BRIdge Alpha program.
Read more about LQT HERE.
ARP Venture is one of the companies within the Capital Group of the Industrial Development Agency. It has been established in connection to the implementation of the new strategy whose goal is to increase the innovativeness of Polish economy and enhance technology transfer to the industry. ARP Venture operates in the industry sector of SME’s and invests in innovative projects in the phase of developing mass production and in the product expansion phase.
Photo credit: CC via ARP Venture