GWC leads a £400k seed investment in TSM Systems
Investors in this round: TSM Systems
GWC is pleased to announce that it has lead and completed a £400k seed funding round in TSM Systems.
TSM has developed new communication technology which will be used to solve operational and safety issues in superyachts and other marine applications.
Superyacht captains need to track, monitor and communicate privately with their tenders for safety and operational reasons. Similarly there are requirements for wireless tracking and monitoring elsewhere in marine industry (eg autonomous vessels, commercial marine, authenticated command & control) which are also currently unmet.
Towed tenders cause some of the most frequent losses experienced in superyacht insurance resulting in major financial loss. TowPro is the first product to reduce this risk, using TSM’s proprietary ‘DataTraq’ device which integrates VHF and satellite comms within a secure shell to provide trusted seamless communications. TowPro has been actively supported by the insurance industry and will form key part of new underwriting terms. Through software development, the company will deliver a roadmap of other DataTraq products addressing wider marine use cases.
Vincent Geake, founder of TSM commented “Our unique technology will improve safety and loss in a number of applications across the marine industry. It has attracted significant interest in the insurance industry” ” We really value our partnership with GWC who introduced us to investors who were knowledgeable in the marine and insurance sectors.
Ian Leigh, founder of GWC commented “We are very pleased to be assisting with the commercial phase of TSM and can see many exciting applications of the technology.”
GWC is a network of UHNWIs and Family Offices that invest in early stage UK companies that have disruptive technology. For further information see http://www.gwcinvestor.com