Financial backing for internet search service
Press release issued: 5 May 2004
Adiuri Systems, a company based at SETsquared at the University of Bristol, has received private backing from a Bath-based investor.
Adiuri was set up to commercialise research developed by the Universities of Bristol and Bath to improve productivity and efficiency in information intensive environments. Adiuri came to SETsquared, the joint venture between the Universities of Bath, Bristol, Southampton and Surrey, so it could benefit from the support available. This support includes low cost serviced office space, mentoring and business guidance to high-tech, high growth potential, early stage ventures.
Adiuri's new service, Cyana, uses the company's unique 'Waypoint' search system to provide access to highly-tailored online information for specific industry sectors. Launched initially to engineers, it is designed to cut through the thousands of pages often returned by the free search engines. Even though it was only launched three weeks ago, Cyana:Engineering already has over 50 users.
Chris Clemence, Director of Adiuri Systems said: "We've had an extraordinary month. It's tremendously exciting to see something that was once merely an idea turn into a commercial success that already has the endorsement of customers and a private backer. This new investment means we are now able to move on from the SETsquared centre and find our own premises where we can start to expand our team and grow the business."
Adiuri met its investor through Catalyst Venture Partners, a Bath based virtual accelerator/incubator and corporate finance house. Adiuri has been working with Catalyst for six months. Catalyst Venture Partners in turn is part of SETsquared's support network of regional professionals and experienced entrepreneurs.
Peter Maxwell of SETsquared at the University of Bristol said: "Adiuri is a clear example of the success that can be achieved through the combination of the research strength of the universities and private sector support."
Chris Clemence added: "At first we came to SETsquared to have the physical infrastructure from which to run our business such as office space, meeting rooms and internet access. This crucially lets us present the professional image essential for doing business with large organisations."
Cyana:Engineering is a specialist information access service that provides engineering professionals with a dedicated tool to find specialist information and to track technological developments, product news and new research. Thanks to Cyana, their knowledge stays up-to-date and their companies know about changes which can affect their business. Cyana provides a single point of access to the most relevant online information from research grants and academic publications to business and product news.
"Free search engines return far too much information from which it is nearly impossible to pick out what is relevant," said Chris. "This is made worse because they do not have access to some of the best sources of sector-specific information available. We ultimately want to roll out a series of dedicated information channels for other professional domains such as health and safety and the environmental sector."