Edinburgh-based Paul Gardiner and his business partner, Brian Higgins from Manchester are celebrating after receiving significant investment to develop their video compression platform to the first launch stage. The pair claim that their platform Eoovi will reduce file sizes by 93%, this new funding will be used to build a working prototype which they will use to demonstrate its capabilities to businesses.
Before this much needed financial support, Gardiner had invested £100,000 of his own money into the project, which was started in Edinburgh with the goal of making video more convenient. The financial strain of self-funding left the pair homeless and living with family members. Last year the future of the company had been in serious jeopardy after the previous working demo was taken off-line due to a serious lack of cash.
Eoovi Supported by Tech Mentors and Investors
Tech investors Rick O’Neill, Gary Monaghan and Peter Borner came to the company’s rescue providing the monetary support they needed. Higgins said of the funding: “The money gets us through a few stumbling blocks; it’s the light we need at the end of what has been a long tunnel. I fully believe the technology is going to transform the digital universe.”
Along with the investors Tech Manchester, a not-for-profit scheme pairing digital start-ups with established tech entrepreneurs, was instrumental to Evooi’s recent success. The scheme helped equip them with the skills and knowledge needed to create, pitch and present their product to potential investors. Higgins said: “The programme, in conjunction with UKFast, has been so beneficial. Our mentor has offered advice and guidance as well as practical help like allowing us to use his office for meetings.”
Tech Manchester Lead Patricia Keating said: “It’s fantastic to see another start-up in our mentoring scheme succeeding. Paul and Brian have invested a huge amount of time and money in Eoovi, at a big cost to them both personally. Their belief and passion in the business shines through and after hitting a few hurdles they are now able to show the world what they can do. We will continue to support them every step of the way.”
Changing How we Transmit Video and Images
Gardiner, a software engineer believes that this new technology will be a real game-changer: “We can deliver a 4K movie with a 1mbps connection. Netflix currently recommends having a minimum internet speed of 25 mbps, so we are already a long way ahead of the curve.”
“This has huge cost-saving benefits to organisations as file and video sizes continue to increase. Eoovi also helps small rural businesses that don’t have access to a fast internet connection. The technology enables them to upload hundreds of large documents to a cloud-based system. Space is no longer an issue.”
“This is an evolution. We are working towards making the platform a content delivery network and building a mobile system to revolutionise how television news crews transmit images.”