The Mobile sector continued to encounter difficulties during the quarter, with nine companies securing $29 million in new funding, representing a 65% decrease in funding amounts versus the previous quarter. The number of companies funded dropped to nine, a 29% decrease versus the previous quarter.
Dilithium Networks raised $8 million in a new round of financing. Investors in the round were not disclosed, nor was how the company intended to use the funding proceeds. Dilithium sells technology to mobile service providers that enables them to deliver high-quality multimedia over their networks to virtually any connected device. Dilithium says that it sells its products in over 60 countries worldwide.
There were a number of Series A funding rounds during the quarter:
|Motally|| ||Undisclosed Amount|
|Celtra|| ||$1.2 million|
|Aha Mobile|| ||$3 million|
|Azuki Systems|| ||$6 million|
The Communications sector saw the largest percentage decrease in funding volume, with companies in this sector raising only $8 million during the quarter, a decrease of 86% versus the previous quarter. The number of companies funded totaled five, a 29% drop from the previous quarter.
The largest funding event of the quarter was for Quantia Communications, which received $4.6 million in an unpublished round. The company has developed hardware and software solutions that enable businesses to integrate new communications methodologies with their high value customers.
Mass communication technology company Everbridge raised another $2 million in venture capital investment during the quarter. Everbridge provides enterprises and organizations with the ability to notify their customers, employees and stakeholders in the case of an emergency or major incident.
Spanlink Communications secured $1.5 million from venture capital firms. The company provides integrated IP communications solutions to call centers and other enterprise customers based on Cisco Systems AVVID architecture.
Venture Funding Activity – 2nd Quarter 2009
||- 64 %
|| + 100 %
||+ 44 %
||- 65 %
||- 40 %
||- 86 %
||- 29 %
||- 52 %
||+ 3 %