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Euro Ventures - Thursday, September 28, 2006

This Week in Euro Tech Ventures

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Feature
- The a:c euro interviews Index Ventures' Danny Rimmer on his firm's investment this week in Stockholm-based VoIP start-up Rebtel, which raised $20M in series A.

What's up in Paris?
- Wheels up on the a:c euro jet as we took off for France to enjoy the IE club. A who's who of the French tech scene was on hand at this contemporary version of First Tuesday.

Investments
- VCs back Hamburg-based Qype's Web 2.0 local search play.

- Germany's High Tech Gruender Fund has invested €500K in yet another university startup. This time it is Snyncing.NET Technologies, which sells software for synchronizing multiple PCs and PDAs running Outlook apps.

- Wales- based embedded sensor-maker DeepStream raised GBP8M.

- VCs can't seem to get enough of Swedish software companies churning out broadband network management code. Three deals have been announced in the last week, the latest being bandwidth management specialist Operax, which raised $15M in its 3rd round. The other two are Telepo and NetAdmin.

- On the back of satisfying the toughest customer in the mobile phone market, namely Nokia, Telepo raised €4M from Accel Partners.

- Cyber Animation Group, a French computer-generated short film and cartoon production company, has raised €2.2M.
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3D Toon Innovation Thanks To France

- Belfast's Mobile Cohesion, a developer of software used to manage partners of mobile network operators, has raised $4.8M in a 2nd round.

M&A
- France's Modelabs has acquired WorldGSM, a website that publishes premium news, content, and reviews of mobile phones, as well as selling the gear directly to consumers. No disclosure on how much it paid.
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This deal is the European equivalent of Motorola buying a mobile site like JiWire

Launches
- Check our rap sheets on some new company/product launches: Belgium's Facebox is a new Europe-oriented online community platform targeted at young people. Britain's Crowdstorm is a shopping engine in Beta whose registered users recommend consumer goods. It is in Beta mode. Ireland's Nooked does RSS marketing.

- Popular Euro business social networking application, OpenBC, is getting a name change to Xing.

Bad News
- November AG's Biotech And Nanotech Holdings Up For Sale after the company files for insolvency.

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