Reports

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Mobile

Mobile companies secured $121 million in new funding, spread among 20 companies, representing a 34% and 13% decrease respectively. There were no large fundings during the quarter, which may have accounted for the funding decrease.

A number of companies received series B financings during the quarter, which were invariably used for product or service rollout or expansion:

Funambol $12.5 Million
Jaxtr $6.4 Million
Miyowa $8 Million
Ontela Undisclosed
Skyfire $13 Million

The largest funding during the quarter was a $19 million series C round for Invensense. The company has developed what it calls the "world's first integrated motion sensing solutions based on multi-axis gyroscopes and accelerometers with embedded intelligence."

SNAPin Software raised $12 million during the quarter and was promptly acquired for $180 million in an all stock transaction by Nuance Communications. SNAPin created software that lets mobile operators interact with their subscribers in real time and understand the context of their current mobile behavior.

Communications

The Communications sector continued to see declines, with five companies raising only $28 million.

The largest investment during the quarter was $11.5 million for ForteMedia. The company is developing hands-free communication technology with small microphone technologies, combined with its voice processor ICs.

3n Global secured $7 million from ABS Ventures and other investors. 3n provides mass notification solutions to enterprises, government agencies, healthcare systems and educational institutions that allow them to trigger mass communications via a variety of media.

Sound ID received $750,000 from Essex Woodlands Health Ventures to continue development of its Bluetooth compatible headset designed to address each user's unique hearing preferences in a variety of environments.

Table 1

Venture Funding Activity – 2nd Quarter 2008


Industry Total
Amount
Funded
% Change
Vs. Prior
Quarter
Number of
Companies
Funded
% Change
vs. Prior
Quarter
Telecom $109 Million + 43 % 12 + 20 %
Wireless $345 Million + 16 % 33 + 22 %
Mobile $121 Million - 34 % 20 - 13 %
Communications $28 Million - 51 % 5 0 %
Total $603 Million - 18 % 70 + 8 %

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