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T-Venture Invests in MessageVine
URL(s): www.t-venture.de
Bonn, Germany and New York, NY USA - September 24, 2001 - MessageVine, a
leading provider of private label mobile instant messaging solutions has
secured $US 6 Million from T-Venture, the venture capital arm of Deutsche
Telekom, and other key international investors, as part of its first round
financing. Existing investors Cedar Fund , CSK Venture Capital and
Technorov Holdings renewed their commitment to funding MessageVine and talks
are being held with additional potential investors.
"The new financial support of T-Venture highlights our strong growth
potential and provides sound endorsement of our business model," said Eli
Efrat, MessageVine CEO. "This new development, along with the continued
commitment of our existing investors is particularly significant in today's
challenging business climate. These investments are a testament to our
success and the significant market opportunity that instant messaging
represents for mobile operators and internet access providers."
"MessageVine is poised to capitalize on the significant market opportunity
created by customer demand for cutting edge instant communications
applications that connect mobile and PC users" stated Oliver Haeggberg,
Investment Director at T-Venture. "The investment from T-Venture will
assist MessageVine in strengthening its market position in a sector that is
projected to explode with the adoption of next generation mobile
technologies."
T-Online International AG, Europe's leading online service provider,
launched its private-label instant messaging service powered by MessageVine
at the recent Internationale Funkausstellung (IFA www.ifa-berlin.de) trade
show in Berlin. In March of this year, T-Online selected MessageVine's
technology to provide IM to its 7.9 million current users.
MessageVine provides mobile operators with a highly scaleable and
customisable server based IM solution that allows seamless communication
between different devices - mobile-to-mobile, mobile-to-desktop,
desktop-to-mobile. MessageVine's mobile IM technology runs on several
platforms including SMS, WAP, BREW and i-mode.
About MessageVine
MessageVine is the leading worldwide provider of private-label Instant
Messaging server products, delivering completely branded and customized
carrier-scale wireless and wireline IM solutions to wireless carriers,
telcos and ISPs. MessageVine's products, designed with open architecture
that integrates with the full array of back-end systems, enable its
customers to extend their brands and maintain constant communication with
their subscribers. Privately funded, MessageVine was founded in 1999 and has
offices in New York, San Francisco and Tel Aviv. For more information,
please visit our Web site: www.messagevine.com.
About T-Venture
T-Telematik Venture Holding GmbH (T-Venture) is a wholly-owned corporate
venture capital subsidiary of Deutsche Telekom AG, a world leader in
telecommunications. T-Venture provides young, technology-oriented companies
which operate in the TIMES markets (telecommunications, information
technology, multimedia, entertainment, security) with equity, but also with
entrepreneurial know-how. T-Venture has offices in Bonn, Munich, Berlin,
Redwood City (CA), Tokyo, Singapore and manages several funds of EURO 500
million. www.t-venture.de
About Cedar Fund
Cedar Fund is an international venture capital firm, investing in high
technology companies. Cedar Fund seeks to invest in outstanding
entrepreneurs pursuing high growth markets with distinguished technologies
in the telecommunications, networking, Internet-infrastructure and
enterprise software areas. While the fund invests in all stages, it
specializes in early stage, Israel-related situations, including Pre-SeedT,
seed and first round, where it believes its strategy and capabilities offer
the greatest potential. With its quality investment track record and over
$225 million under management, Cedar Fund is among the largest and most
notable venture capital firms focusing on Israel-related, early stage
investments.
About CSK Venture Capital
CSK Venture Capital was formed in May 1991, and has been actively providing
equity financing to private companies since then. Over the years, CSK
Venture Capital has accumulated valuable experience and know-how in finding
talented entrepreneurs, evaluating new technology and management, and
helping entrepreneurs build companies. With extensive expertise, talented
teams and international network, CSK Venture Capital provides added-value to
ventures which help to develop breakthrough products and build successful
companies.
About Technorov Holdings
Technorov Holdings Ltd. is a privately owned investment company that has
been active since 1997. It is owned by Alrov (Israel) Ltd. and Leumi and Co.
Investment Banking Ltd. and is led by Shmaryahu Shapiro, the CEO. The
company actively invests in hi-tech and biotechnology companies. The
Technorov Holding portfolio consists of 26 companies in different phases of
life cycle, operating in the Internet, Information Technology, Information
Security, Telecom, Biotechnology, Life Sciences, and Medical Devices areas.
As of June 2001, the company's total investments amount to $27.2M, and a
total realization of $19.5M.
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