Tekcapital's (TEK ) wholly-owned Guident highlighted recent developments in the September issue of its newsletter, released today.
Guident, one of Tekcapital's four portfolio companies, is a developer of software solutions tailored towards the remote monitoring and operation of autonomous vehicles and drones. Guident's R&D extends to related technologies as well, such as regenerative shock absorbers.
Highlights
On September 9th, Guident's remote monitor and control technology (RMCC) was used in Perrone Robotics' vehicles as the latter provided autonomous rides around the villages of Broken Sound in Boca Raton, Florida for members of the Broken Sound country club. This was an important milestone with an extra safety layer and convenience for members of the community.
In addition, Guident continues development of its Regenerative Shock Absorber technology that converts more of an EV's motion into electrical energy, extending range. Regenerative braking is a well-known technology, however Guident's system harnesses energy from shock absorbers. "With precise force and displacement measurements, we aim to demonstrate the advantages of the modern energy-harvesting shock absorber over traditional oil-filled shock absorbers", the company said.
Guident also recently participated in the Verizon Innovation Hub in Lake Nona in support of its partner Perrone Robotics. Perrone demonstrated the TONY autonomous system at the event, using Verizon's "hyper-precise location using real-time kinematics (RTK)".
On the investment front, the National Investment Banking Association (NIBA) pitched Guident to investors during its 7-8 September conference. Response to Guident's IP, particularly the RMCC platform and AI human-in-the-loop platform, was "overwhelming", the company said, and led to discussions with interested 3rd parties. NIBA's network has raised over US$30bn, accounting for 90% of all IPOs under US$20m.
Looking ahead, Guident will be attending the "MOVE: Mobility Re-imagined" event in Austin, Texas on September 27-28. Interested parties can schedule a meeting with Guident at the event here.
View from Vox
Milestones such as mentioned in September's newsletter have become routine for Guident, as the company's value has increased steadily since initial investment in 1H 2018, reaching £22m in just 4 years:
Guident is quickly establishing itself as a leader in advanced autonomous vehicle control systems. In May it was selected as a vendor to the Jacksonville Transportation Authority and has so far filed for 8 patents in the US. Guident's asset value on TEK's's balance sheet has consistently increased since initial investment in 1H 2018. It is now TEK's largest holding, representing roughly half of its total book value:
Looking ahead, Guident hopes to capitalise on the $42bn market opportunity for last-mile autonomous vehicle delivery that it sees as having positive regulatory drivers. One catalyst of this market is the pending US legal framework - Florida has already passed a law making human remote monitoring for AVs obligatory when a driver is not present.
Tekcapital
The combined value of Tekcapital's four portfolio companies has grown steadily since 2018, from £8.4m in 1H18 to £62.5m in FY21. Just today, we reported on another TEK company, MicroSalt, as it launched its foodtech product in the US.
Tekcapital most recently reported a 13% increase in net assets in 1H22 to a record US$76.9m, with NAV per share increasing 6% HoH to US$0.51. Previously, TEK had announced a 108% net asset increase and a 243% increase in income YoY for FY21. Overall, the company has shown that it can pick IP companies with the potential to grow and disrupt their respective sectors, despite repeated headwinds in the global economy over the past 5 years.
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