Optical/IP Networks

Gate5 Closes €6.5M Round

BERLIN -- gate5 AG announced that the company closed over Euro 6.5 Mio. in financing led by French venture capital firm Innoven Partenaires, accompanied by Munich based Target Partners as well as current investors BC Brandenburg Capital GmbH and IBB Beteiligungsgesellschaft mbH. The funds will enable the Berlin based software company to assert its leadership role in location- based technology for the new generation of mobile devices. gate5 offers premium subscription service via operators, device makers and content partners worldwide.

gate5 plans to invest the new funds to secure the planned worldwide rollout of its content middleware and client software, which is sold as a "white label" product line to operators, telecom companies and service providers. gate5 applications provide unmatched interactive mapping, with zooming, panning, address search and 3D view mode, various search and routable content channels with places of interest. The applications are GPS enabled and ready for use with an operator location server.

gate5 Co-Founder Christophe F. Maire: "After our successful product launch in the US, gate5 is in a good position to become the market leader in providing turn-key premium services for the all important location applications segment. Market leaders see very strong momentum towards the use of smartphones. Our technology takes advantage of the increased performance and functionality of these mobile devices to provide value-based subscription services to the end users."

"We and our current investors are delighted that Innoven and Target Partners have chosen to participate in this significant expansion financing. We see this investment plus the support of partners such as Nokia and Sony as a clear sign of the recognition and potential of our client technology and complimentary subscription services," says gate5 CEO Dr. Michael Halbherr.

gate5 AG

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