Java card developer Aspects wins £5 million in funding

Aspects Software of Edinburgh, UK, a developer of Java Card software systems for the smart and SIM card markets, has received £5 million in funding led by Royal Bank Ventures (RBV), the technology venture capital fund of The Royal Bank of Scotland.

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Java card developer Aspects wins £5 million in funding

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Gavin Petken, investment director at RBV, has joined Aspects’ board of directors. Alongside RBV, all of the existing investors - Scottish Equity Partners, 3i and Commerzbank Securities- made follow-on investments

With over 220 customers in 33 countries, ten-year old Aspects was one of the first companies to develop and supply test tools in the smart card market. The company says the new funding is part of a push to expand internationally and penetrate the market for Java card operating systems.

Robert Brown, CEO of Aspects, comments: "With the market for smart cards growing rapidly this new funding could not be better timed for Aspects."

The company has recently completed development of its Java Card IDE, a visual development environment which enables users to customise their own smart cards and SIMs through the use of Java applets.

Stuart Paterson, investment director at Scottish Equity Partners, says: "Aspects’ new operating system will enable lower card costs and greater functionality for the issuers of cards such as mobile operators, banks and providers of ID and security.”

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