Sofinnova Invests in Streamezzo

PARIS and SAN FRANCISCO -- Sofinnova Partners and Sofinnova Ventures announce their participation, for €6 million, in an €11 million round of financing in Streamezzo, a French software provider of Rich Media and Interactive mobile solutions. Other investors in the round were existing investors AXA Private Equity, T-Source, France Télécom Technologies Investissements and GET Valorisation.

Created in January 2004, Streamezzo has developed a software suite that enables interactive multimedia content, such as TV, music, portal and new user interfaces on a mobile phone. The company’s Rich Media software suite boosts the consumption and stickiness of mobile content and applications, thus enabling mobile operators, content providers and handset manufacturers to develop and deliver Rich Media and Interactive Mobile services in a cost-effective and user friendly manner. Streamezzo’s core technology is based on the LASeR standard, the addition for mobiles to the MPEG family.

“We are convinced that there will be increasingly strong demand for Rich Media on mobile telephones,” says Jean Schmitt, Managing Partner at Sofinnova Partners. “The market for TV application and rich content portals is estimated at $50 million this year, growing to $1 billion by 2009. Many operators are establishing infrastructures for mobile TV, and Streamezzo supplies the interaction not just for TV but also for other Rich Media, such as mobile music. Some day people may compare Streamezzo to Netscape at its origins.”

“The richness of Streamezzo’s technology is simply unmatched,” says Alain Azan, Managing Director at Sofinnova Ventures. “The company has come up with a highly innovative solution for meeting the needs of telecom operators, content providers and mobile developers to offer interactive multimedia services to their customers.”

“We are pleased to receive this round of financing, which will enable us to respond to growing demand from operators and content editors and to position ourselves as the leader in embedded Rich Media,” says Stéphane Roder, CEO of Streamezzo.

Sofinnova Ventures Inc.