Deal Announcements

Groove Mobile Gets $6 Million Venture Debt Financing

Thursday, September 06, 2007 5:00:00 AM PDT | VentureDeal Staff

BEDFORD, MA -- Mobile music service company Groove Mobile announced that it has secured a $6 million venture debt facility.

Groove provides consumers with the ability to download music video and audio over their mobile phones.  The service contains over one million songs from all four major labels and many independent labels.

Orix Venture Finance is providing the debt financing.  Groove says it will use the proceeds to fuel its expansion in the marketplace.

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