IRIDA Labs completed two financing rounds for a total of $1.5M. A series of funding, led by Alpha TANEO AKES Fund, was completed in August 2013.
Alpha/Taneo have joined IRIDA’s Board of Directors – bringing partnership and business expansion experience. In a concurrent development, individual investor Michael Tzannes made an angel investment in IRIDA Labs and has also joined the Board of Directors. Michael has over 25 years of experience in the high tech industry and was Chief Technical Officer, Chief Executive Officer and Chairman of the Board of Directors at publicly traded Aware, Inc.
These investments will accelerate the progress of IRIDA Labs’ plans to provide leading edge Embedded Video Processing software for consumer electronics, mobile devices and automotive markets.
Alpha TANEO AKES
Alpha TANEO AKES is a €30 mln. venture capital fund formed in 2008 with capital contributions by the New Economy Development Fund (TANEO) and Alpha Bank.
The fund’s manager is Alpha Ventures Capital Management, a subsidiary of Alpha Bank. The fund invests in Greek small and medium sized enterprises at early stages of development with promising growth prospects, primarily arising from the application of innovative methods and technologies. When appropriate, Alpha TANEO AKES co-invests with other local and international reputable institutional and private investors.
Angel Investor Michael Tzannes
Angel Investor Michael Tzannes has over 25 years of experience in the high-tech industry as an innovator and executive. Michael a former CEO and CTO of Aware Inc. (NASDAQ:AWRE) is founder and Executive Manager of Tzannes Patent Management, LLC, focused on the strategic development, assessment and monetization of high-quality patent assets.
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