Symvan Seed EIS Opportunities Fund invests in Bayncore
We are pleased to announce that Bayncore Limited has received an investment from the Symvan Seed EIS Opportunities Fund. Bayncore is highly specialised in delivering top-level consultancy and IT services to organisations and enterprises that utilise their own proprietary software and code using high performance computing (HPC). The latest processors from manufacturers such as Intel (e.g. Intel® Xeon Phi™) can have up to 61 cores (compared to just two or four in our everyday PCs). As a result, a gap is emerging between the available computing power and the power that is actually used. This is due to a specialised requirement of programming expertise that has been increasingly limited to a few. Bayncore is seeking to narrow this gap through the provision of its services and aims to assist with clients' HPC and technical computing strategy through technology and knowledge transfer. Bayncore will initially be delivering services to EMEA customers of Intel Corporation, and specifically support for the Intel® Xeon Phi™ Product Family. Thereafter, Bayncore will be targeting companies utilising HPC products from other major manufacturers. The founding shareholders and management bring software and IT industry experience in sales and operations, consultancy and programming. One of the founding shareholders, Dr John Appleyard, developed and marketed the plusFORT suite of tools for Fortran programmers. Funds raised will allow Bayncore to hire and attract key talent to grow its business.