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First GPRS Data Despatch System for the Taxi and Courier Industry
Cordic Closes First Round Funding;
Launches Industry First GPRS Data Despatch System for the Taxi and Courier Industry
April 30, 2003 – Cambridge, United Kingdom - Cordic Ltd, the Cambridge based mobile data despatch system company has successfully completed its first round of funding from investor The Bruce Group.
Cordic has developed an industry leading mobile terminal based Taxi and Courier despatch system using public GPRS networks. Cordic’s system provides taxi and private hire companies the flexibility and scalability that existing private mobile radio (PMR) systems cannot. An automated booking system with fully integrated database features allows operators to quickly despatch jobs to drivers who receive their jobs on a Bluetooth™-enabled handheld PDA (personal digital assistant) or mobile phone integrated terminal such as the O2 xda™. Portability of handheld mobile terminals allows drivers to be in touch with their control centre even when they are out of their vehicles. Cordic’s technically advanced system can navigate drivers to their destinations using the built-in voice guided street navigator by a simple touch of a button on the PDA touch screen.
“Cordic is going through an exciting time, said Richard Bruce, CEO of the Bruce Group. “Their technology opens up real-time data despatching at high data rate with national & international radio coverage to many companies who could not previously afford to set-up their own private mobile radio networks. Cordic’s potential is vast and this fund will enable Cordic to fulfil its order book.”
Cordic’s funding to date has been provided by its founders and has enabled their product development. “We have achieved our original objectives with the development of the first Taxi and Courier despatch systems in the world which operate over GPRS networks,” stated Fara Arani, founder and director of sales & marketing at Cordic. “Securing this external funding is a real vote of confidence in the company and our products, particularly at a time when there has been such volatility across the high technology sector.
Cordic’s Taxi and Courier despatch systems with built-in street navigator and GPS vehicle tracking is the first of its kind in this industry. Operators can monitor the state of each job and position of vehicles in real-time throughout each journey and address exceptional situations immediately. The system can automatically inform customers of arrival or expected time of arrival by call back or SMS messages. Using a real-time, always-on data connection over public GPRS mobile phone network rather than the traditional PMR network makes the products affordable for any size of taxi, private hire and courier fleets, as the initial capital cost and running costs are low.
Arani added, “There has been high level of interest in our products from both taxi and courier companies and we expect to deploy our products in a commercial environment during Q2 2003. The new funding will provide Cordic with the working capital it requires to fulfil its sales and marketing activities and on-going development. Providing real-time wireless video surveillance for the protection of drivers and customers is part of an on-going development which is due to be available in late 2003.”
About The Bruce Group
The Bruce Group, with its headquarters in Sheffield, comprises a number of UK based companies involved in the recovery and recycling of metals and materials from the chemicals, electronics and telecom industries.
The diversification into a new technology based industry, mirrors the Groups commitment of continuous investment in developing its core business markets.
About Cordic Ltd
Formed in 2002, Cordic Ltd develops and markets state-of-the-art mobile data despatch systems targeted at the Taxi, Private Hire and Courier Service sectors. Cordic’s core products operate over public GPRS (General Pack Radio Services) networks and incorporate leading edge wireless technologies to provide reliability, flexibility and scalability. For more information, visit www.cordic.com.
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