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Investment joy for internet search firm

Tunstall-Pedoe launched Cambridge-based True Knowledge in 1998. It develops technology that aims to enhance the way in which factual information is made accessible on the internet, improving the accuracy and speed of response associated with internet searches.

Funding will allow the company to accelerate development of its open beta site and the eventual delivery of its product to mass-market consumers. Octopus invested £600,000 in True Knowledge in June 2007.

In his blog, Tunstall-Pedoe notes that it’s a great time for the company. “I am humbled by the confidence our investors have shown in the team. The next few months are going to be particularly exciting as we build out the management team as well as our development and knowledge capabilities.”

True Knowledge’s chairman is William Reeve, who founded leading internet research firm Fletcher Research in 1997 and in 2003. The latter merged with LOVEFiLM in late 2006.

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