Wireless Firms Ring Up More VC Bucks
Rutberg says 40 companies announced new VC funding last month; and 11 of those are making a business of technology related to mobile end points. [Ed. note: Didn't we used to refer to mobile end points as cellphones?]
More than $10 million of fresh VC flowed into the wireless space every day last month. (See Startups Make the Case for Mobile TV.)
Rutberg says wireless content and infrastructure companies have been attracting a large share of new capital in the past several months. The firm cites providers of mobile content as particularly appealing.
The largest funding for a digital media company last month went to Los Angeles-based MVNO Amp'd Mobile Inc. , which received $150 million from a group of investors including Highland Capital Partners , Tudor Investment Corp. , and Intel Capital .
Rutberg analysts say the April VC data is skewed somewhat toward wireless because of Amp'd Mobile's ample investment. Still, disregarding that funding event, wireless companies still raked in about 25 percent of the money invested last month.
Durham, N.C.-based Motricity Inc. received $40 million from Advanced Equities Inc., New Enterprise Associates (NEA) , and Technology Crossover Ventures . Motricity’s was the second largest funding of the period. The company sells software that enables the delivery of content to mobile devices.
The Israeli company Siano Mobile took $23 million from a group of Israeli VCs. Siano develops mobile television receiver chips.
Out of 39 companies that were acquired during April, seven were focused specifically on mobile services.
— Mark Sullivan, Reporter, Light Reading