UK: TurfTrax to float on AIM

Investment opportunity

TurfTrax Ltd of Salisbury, UK, is to float on the Alternative Investment Market in London, to raise £3 million for the further development and commercialisation of its racecourse technology services.

The company’s core activity is originating and distributing data and data products from and to the horse racing, betting and media industries internationally. It has licensed and developed a range of patented technology products and proprietary systems to monitor the absolute and relative positions of horses during races, and to provide a scientific measure of the “going” at racecourses, a measure of the condition of the racing surface as an indication of the firmness of the ground.

TurfTrax’s Racing Data unit has developed a portable radio frequency tracking system which captures a horse race as data in real time, enabling the production of accurate in-running data feeds. These feeds can be used to populate a range of bespoke data and form services, for the racing, betting and media industries, and for the use of racing authorities in ensuring the integrity of races.

TurfTrax invented and markets GoingStick, a device for systematically and objectively assessing going conditions on racecourses. The state of the ground directly affects the trainer/owner decision to run a horse in a particular race and the requirement for an objective measurement was driven by long term frustrations with the accuracy and consistency of reports published by courses.

TurfTrax’s soil scientists developed GoingStick, in collaboration with Cranfield University. Use of the device is now mandatory on all British racecourses.