Braveheart Investment Group updates on progress of investee firmPhasefocus Holdings

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Braveheart Investment Group PLC (LON:BRH) has issued an update on the operations of its investee company Phasefocus Holdings Limited, in which it owns a 42.67% stake.

The investment group said a switch to online sales meetings and virtual demonstrations for Phasefocus, which develops computational imaging technology, was “proving successful” for its high value instrument, the Phasefocus Virtual Lens.

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Braveheart also said the investee firm continues to have a strong sales pipeline for its Livecyte2 instruments and has received orders from customers in Italy, Israel and China as well as software and hardware upgrades to existing Livecyte users at universities in York, Manchester and Hull and other locations.

Phasefocus is also seeing “growing demand” for long term service contracts, which it saw as an “excellent opportunity to increase guaranteed revenues” while also providing users with “certainty” to continue operating with regular system updates and servicing, the group added.

Braveheart noted that Phasefocus is now working in collaboration with Manchester University to further enhance its LiveCyte product using Artificial Intelligence based image classification.

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