Chambéry, FRANCE – 24th September 2007 – Purple Labs, a leading supplier of embedded Linux solutions for the wireless industry, announced today that it secured $14.5 Million USD (10.5 Million €) in an initial round of venture capital funding. This investment comes five months after Sofinnova bought out Purple Labs’ previous Spanish owner. The round was led by Sofinnova Partners (Paris), Earlybird (Munich) and Partners Group (Zurich). The funding will allow Purple Labs to expand its business into new markets and to strengthen the company’s position with existing partners.

Purple Labs was among the first ompanies in the world to ship a Linux mobile phone fully approved by European network operators. From its beginning as a design center specializing in mobile phone development, Purple Labs has expanded its operation to market and distribute its full, low-cost Linux solution.

"The open operating systems market for mobile is now taking off and Linux will represent a large market share. Purple Labs has not only a fully operational technology allowing the lowest cost handsets to run on Linux, but also a fully proven technology already embedded in millions of phones,” said Roland Manger, an Earlybird Managing Director.

"A fast moving market, a proven technology, a strong team, a fine set of investors: we believe these are the ingredients for a recipe of success,” added Jean Schmitt, a Sofinnova Partners Managing Director.

"Purple Labs has made substantial investments in Linux over the years, convinced of its benefits to design houses, ODM’s and manufacturers looking for a powerful software platform on which to build their future products,” commented Dennis O’Donovan, co-Founder of Purple Labs. "We’re pleased to have respected investors validating our technical choice in Linux. We look forward to rewarding their faith in the Purple Labs team."

With a long history in Linux software development and in depth knowledge of mobile phone design and customization, Purple Labs is in the position to meet even the more demanding needs of its customers. The company offers a complete solution spanning from hardware reference design to a complete customisable Linux software suite, thereby offering customers a true one-stop-shop solution.

About Purple Labs:

Founded in 2001 in Chambéry in the south of France, Purple Labs offers a full Linux software suite to the wireless industry packaged as a customisable software solution or packaged as part of full hardware and software reference design. The company offers comprehensive solutions (from entry level to smartphone) allow design houses ODM’s and phone manufacturers to quickly address market demands and segment their offer. Purple Labs expertise includes definition, design, development and validation of products (hardware, software and integration). In addition, it covers complete user interface customisation and manufacturing support. Working with pre-defined but modular platforms, Purple Labs enables its customers to deliver cost-effective and state-of-the-art mobile handsets within an optimised lead time. http://www.purplelabs.com.

Press Contact:
Jean-Marie André
Purple Labs
jma@purplelabs.com
Tel: +33 (0)4 79 26 48 60

About Earlybird:

Earlybird Venture Capital, established in 1997, is one of Europe’s leading technology investors. With approximately €370 million under management, Earlybird seeks to invest in European technology enabled high growth companies which are driven by outstanding management teams backed by international syndications to broaden the access to customer and capital markets. Earlybird invests primarily in early stage technology companies which have their origins in Europe with the current investment focus on software, semiconductor, communication, cleantech, medtech and biotech platform technologies.

The Earlybird team creates value by understanding their target investment sectors well and working closely with each management team. Earlybird strongly supports the development of each company by professionalizing and shaping management teams, providing strategic and product advice, creating international investor syndicates, effecting corporate introductions and being closely involved in achieving appropriate exits.

Six of Earlybird’s high-tech investee companies have floated on various European stock exchanges over the last two years: Interhyp, Tipp24 and Wilex (all Prime Standard, Frankfurt), Esmertec (Swiss Exchange, Zurich), Entelos (London Stock Exchange) and NoemaLife (Borsa Italiana, Milan). Interhyp returned more than 50x the original Earlybird investment. In addition, Earlybird supported element 5 in its acquisition by Digital River, Identify in its acquisition by BMC Software and Alantos in its sale to Amgen for $300M USD.

Further information:

Daniela von Wedel
vonwedel@earlybird.com
Earlybird
Van-der-Smissen-Str. 3
22767 Hamburg
Tel.: +49-40-4329 41-0
Fax: +49-40-4329 41-29
www.earlybird.com