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April 17, 2006
Former iTouch Business Unit Raises VC For Mobility Apps
Blackbay, a British software company targeting mobile workers, which spun out of iTouch when it was acquired by Japan's For-side.com last year, has raised £3.5M ($6.1M) from Close Venture Management in the UK.
The capital will be used for product development and to fund the wireless data solutions company’s sales and marketing drive. The firm has been delivering wireless solutions for parcel delivery, field technician, and logistics for over 12 years as a business unit of iTouch. Its customers include Parcelforce, Dyson, and Konica Minolta.
Its head office is in the UK, with offices in Australia, New Zealand, and Singapore.
Blackbay's chairman of the board is Avi Azulai, who until last March was the managing director of iTouch, a provider of mobilephone content that employed 350 and had annual sales (2004) of £78M. iTouch was acquired by an acquisitive Japanese mobile content firm called For-side.com. The price paid was £180M.
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Posted on April 17, 2006 06:26 AM | Posted to Venture Capital | Wireless | Permalink
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