Baltic Technology Ventures AS (BTV) has concluded an Investment/Consulting and Business Development Agreement with SIA “TTM Total Traffic Management” (TTM). BTV will acquire a minority equity stake as well as options to acquire more shares in the future.
TTM has developed a device called ISA (Intelligent Speed Assistant) that, combined with any GPS tracker, limits the speed of a vehicle in real-time, according to the speed limit set on the current section of the road. ISA is controlled through a GPS tracker via the Navigation Platform. The speed can be controlled automatically, using Speed API, or the end-user can create a custom limitation map. The device is plug-and-play, installed on the vehicle’s acceleration pedal and is compatible with almost every vehicle, including hybrid and electric cars.
“Speeding is the biggest problem in road safety and we are proud to have developed a solution for it. We are pursuing the global transportation goal "Vision Zero" - a world without car accidents. The more vehicles use our solution, the more benefit it brings to society and overall road safety. We are excited about the new opportunity that a partnership with BTV has brought to us. BTV and its investor/expert base will allow us to expand the necessary network and use extra funds for further development and growth".
BTV will aim to support the growth of TTM with key introductions to investors, field experts and industry professionals.
BTV is the only publicly listed venture capital/business development firm focusing on the Baltic market, aiming to connect local innovation with deep experience and access to funding.
Member of the Management Board G.Zolotarev
Contacts: Address: 1-5 Rupniecibas Street, Riga, LV-1010 Phone: +371 67783611 Contact person: Gene Zolotarev Member of the Management Board Phone: +371 67783601 e-mail: gene@baltictechventures.com Certified consultant: Svetlana Hramčenko "Law Office Spridzans" Ltd. Phone: +371 26712718 e-mail: svetlana.hramcenko@spridzans.lv