(1888PressRelease)
December 12, 2007 - Mobile Devices Completes € 3.1 Million Fund Raising
Leading French company receives first round investment from Innovacom
Le Kremlin Bicêtre, France – Mobile Devices, a leading provider of technology for telematics, fleet management and navigation applications, is pleased to announce the completion of its first round of private investment. The company has raised a total of €3.1 million from Innovacom, the sole financial investor in this private placement.
Mobile Devices enables any company involved in telematics (navigation, driver information and fleet management), to develop, deploy and operate value-added services to their customers. The full line of embedded devices from tracking devices to high end navigation and messaging terminals, the open platform embedded in every terminal, the administration solutions, and the powerful and user friendly development environment help solutions providers quickly bring new products to the market. Mobile Devices also provides a comprehensive catalogue of ready-to-use applications.
"We are delighted to have received this level of financing and are proud to have closed our first round of private equity with Innovacom who are fully confident in the future of our technology,” said Aaron Solomon, President and CEO of Mobile Devices Ingénieurie. "Mobile Devices has an aggressive product roadmap which will extend the capabilities of its product offerings. This investment will support the continuous development of our technology and the establishment of an international sales network.”
Jacques Meheut, Innovacom’s General Partner and a Member of the Board of Directors commented, "We were attracted to Mobile Devices Ingénieurie because its technology addresses key changes to the way services will be designed and made available to vehicle users. These new innovations are necessary to meet a growing demand in location-based services. We believe this is going to be a large and important market and Mobile Devices is in a unique position”.
Mobile Devices recently launched the Dreevo, the only Open Connected Navigation device currently available on the market that enables tracking, messaging and navigation in one unique application.
About Innovacom
Created in 1988, Innovacom has helped launch innovative telecommunication and information technology start ups since 1988, such as Business Objects, Cobalt Networks, Gemplus, Infovista, Intershop, LastMinute.com, Soitec, Kelkoo, Inventel and Netcentrex. With 600 million Euros under management and offices in Paris, Stockholm, and San Francisco, Innovacom is an active early-stage investor in Europe and North America.
Innovacom’s Partners are Denis Champenois, Jerome Lecoeur, Jacques Meheut, and Francois Scolan.
For more information, please visit: www.innovacom.com
About Mobile Devices
Since its creation in 2002, Mobile Devices Ingénieurie has positioned itself on solving one fundamental challenge: the growth of telematics road applications is hindered by the lack of open terminals and adaptable applications.This in itself poses a problem at the very heart of the proposed solutions: applications are closed while the market is awaiting terminals associated with a multitude of interchangeable and modifiable services that can also be put in place after initial implementation.
Mobile Devices’ main objective is to develop a new generation of terminals and more precisely, a software framework that allows all those involved to add or easily modify features arising from demand, in a secure way.
To achieve this, the company has taken a unique step aiming to maximize two key needs: the development of innovative “ideal” frameworks, plus development tools, and bringing on to the market solutions which are cost effective, reliable and powerful.
Mobile Devices already has a significant customer base, with more than 200 clients in more than 35 countries all over the world. Significant references of Mobile Devices include Alpha Taxis, SITA (garbage collection), Geodis, Thales, Spie, Antargaz, Gps Buddy and Trafficmaster. The company employs 40 people and is headquartered near to Paris in Le Kremlin Bicêtre, France.
For more information, please visit http://www.mobile-devices.fr
Press contact:
Mobile Devices - Communications Officer
Arsène Kabengele
+33 1 42 11 93 25
arsene.kabengele ( @ ) mobile-devices dot fr
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