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August 21, 2006
Nordic VCs Back Windows For Mobilephones Startup
Colochrome, a Finnish manufacturer of protective lenses, or windows, for mobilephones and hand-held devices, has raised a Series A financing round from Eqvitec and Creandum. The arrangement also includes debt financing from the OP Bank Group. The amount of capital raised was not disclosed.
The new funding will be used to ramp up manufacturing capacity of Colochrome's line of scratch resistant and display enhancing windows. The firm has been working since 2002 to create manufacturing process that is responsive and to a level demanded by high volume consumer electronics manufacturers. It will be ready to go online in early 2007.
"The market of protective lenses in mobile telecom handsets alone is estimated to grow to 2.5 billion units by 2010. Colochrome addresses this significant market need with a very promising new solution. Colochrome also shows that it is still possible to develop telecom manufacturing business from Scandinavia with new innovations and a global mindset from the start," says Jussi Hattula, Investment Director for Eqvitec Partners, advisor for Eqvitec Technology Fund III.Read - Colochrome Secures Financing for Global Market Entry (colochrome)
Posted on August 21, 2006 12:54 PM | Posted to Hardware | News And Updates | Permalink
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