Whetstone principals have become shareholders through the mid-2013 seed investment round and we are now helping the company to raise a more significant development round of around £500,000. The founder and lead shareholder is Rory Macneil.
The business aims to become the market leading third generation Electronic Lab Notebook for academic research institutions. This very significant opportunity is driven by the new condition attached to all research grants that their recipients have a research data management plan and implementation that meet funders’ compliance requirements. The data must be securely archived and made publicly available where funded by public monies. New technology allows researchers to use the ELN for data capture and sharing as well as meeting the funders’ criteria and RSpace estimates the market at a value of $2bn per year in ten years’ time.