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In total, Earlybird companies have raised $92 Million this year
MUNICH, GERMANY, PALO ALTO, CALIF., ZURICH, SWITZERLAND (November 12, 2003) - Earlybird Venture Capital today announced the closing of an SFr 36.1million (USD 27.2 million) equity-financing round for its portfolio company esmertec AG of Dübendorf (Zurich), Switzerland.
According to VentureOne’s European database, this is the largest private European software industry financing round within the last 15 months.
In about one and a half years after entering the mobile market, esmertec has developed into a global market leader for Java™ technology in new generation mobile phones with existing contracts that will result in deployment of its software in about 120 million phones worldwide.
The proceeds of this financing round will be used to further expand esmertec´s business, add new products to its offering, and expand its business in other vertical markets. "esmertec´s strategy of expanding the market for Java™ applications beyond a small niche of expensive smartphones into mass markets has resonated very well with application developers and phone manufacturers. As a result, esmertec now holds contracted business that represents global market leadership and enjoys investor confidence as expressed in this very significant financing round," explained Roland Manger, partner at Earlybird Venture Capital and a director of esmertec.
Earlybird was an early investor in esmertec, with its original lead investment in September 2001. As part of its entry into esmertec, Earlybird helped the company to initially focus on the immediate high opportunity mobile phone market vertical. Earlybird continues to play an active role in major business building milestones, such as the acquisition of the Java™ assets of Insignia Solutions by esmertec to enhance esmertec’s technology base and provide access into new vertical markets.
The esmertec financing is one of the highlights in a very active year for Earlybird in which twelve of its portfolio companies have received a total of USD 92 million of financing from Earlybird and other third-party private investors. As a result, Earlybird is Germany’s second most active venture Capital investor in the third quarter of 2003, both in terms of number of investments and in the total amount invested as well as Germany´s third most active venture capital investor for 2003 to date, according to the German Venture Capital panel.
About esmertec
esmertec is the leading independent software company focusing on mass market embedded Java™ solutions for mobile multimedia phones and embedded devices. esmertec’s Java™ Virtual Machines and J2ME-enabling software solutions deliver high performance computing on small devices to mobile equipment and consumer electronics manufacturers, mobile service operators and application developers.
Founded in 1999, esmertec is a global company headquartered in Zurich, with engineering, sales and customer support operations in Switzerland, the United Kingdom, the United States, Singapore, Korea, China, and representation in Japan.
About Earlybird
Earlybird Venture Capital is an international venture capital management company with approximately $300 million in funds under management and an investment focus on information technology, communication technology and healthcare. With offices in Europe (Hamburg, Munich) and the U.S. (Palo Alto), Earlybird is well positioned to take advantage of international opportunities and helps its portfolio companies gain access to the international market place. Earlybird’s investment professionals have extensive finance and start-up operating experience, providing pro-active support to their portfolio companies. In addition, an experienced network of industry specialists serve on the Earlybird advisory board, assisting Earlybird and its portfolio companies by providing strategic advice and operational support. Additional information regarding Earlybird can be found at http://www.earlybird.com
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Media Contact:
Daniela von Wedel
Earlybird
Van-der-Smissen-Str. 3
22767 Hamburg
Deutschland
Tel.: +49-40-4329 41-0
Fax: +49-40-4329 41-29
vonwedel@earlybird.com
www.esmertec.com
Earlybird is Germany's Third Most Active Venture Capital Investor
031106 Earlybird Top 3 engl.pdf
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