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November 01, 2006
Mobilephone Software Firm Picsel Nabs £25M
The UK's Picsel Technologies, a software company that develops a suite of products to create, publish, and display content on mobilephones, has just raised £25M from undisclosed investors, we learned today reading Library House' weekly free newsletter, which also said Picsel's sales are up to £13M now.
According to its website, Picsel secured first round funding in 2001 totalling $11m from SOFTBANK Europe Ventures and BancBoston Capital. It raised a second round a year later of $6m from a consortium of Japanese investors, including Yasuda Enterprise, CSK Ventures, Mizuho Bank and the Morito family.
More recently, the firms says, Picsel secured a large scale non-equity loan agreement with Malaysia Debt Ventures Berhad (MDV), the finance arm of the Malaysian Government.
It was co-founded and is led today by Imran Khand in 1998 after he founded two other undisclosed ventures. Before that he was involved in economic development activities with the Scottish government.
Read LibraryHouse Newsletter Issue 33
Posted on November 1, 2006 09:14 AM | Posted to News And Updates | Venture Capital | Wireless | Permalink
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