Insigma Technologies Ltd, regarded by many as one of the UKÆs hottest internet start-ups, has secured 1m pounds ($1.6m) of first round funding from venture capitalist 3i Group Plc, valuing the firm at 10m pounds ($16m). The cash marks a move by the firm from an R&D company to a sales and marketing company, according to CEO Stewart Everett.
Accordingly, Insigma is broadening its scope, and has turned N-XEC, its patented media delivery platform, into its core product. Previously, the company was mainly hyping its Hyperceive product, which enables web designers to integrate sequenced sound modules into sites, but says that was under-recognizing the potential of the Java platform of which it is built.
N-XEC consists of server-side software and a small Java applet. Together, the software allows developers to schedule the download and launch of content such as sound, text, pictures or code, without the need for any client side plug-ins. The software is seen by Insigma as an alternative to streaming or plug-ins such as Macromedia IncÆs Shockwave Flash. It will license the N-XEC technology to developers of PDAs and set-top boxes, says Everett, as well as firms wishing to use its capabilities on their own sites.
