Israeli mobile advertising start-up Mobixell Inc. has closed its fourth financing round, raising $6 million from its existing investors, Siemens Acceleration in Communications GmbH (formerly Smac), Intel Capital, and Apax Partners. According to IVC Online data, the company has raised $29 million to date, including the current round.
The finance raised will probably help Mobixell develop new products. Company co-founder and CEO Amir Aharoni told "Globes", "Over the past year, we've seen a marked expansion in the fields we operate in - multimedia and advertising. The increase has been driven by the entry of advanced handsets such as the iPhone, which give users more surfing options, and enhance the user experience. As a result, our investors decided to make a further investment in us to enable us to continue growing, by expanding our distribution network, developing new products, and even acquiring other companies." Mobixell has made acquisitions before - in 2007 it bought Adamind for $6 million.
Mobixell provides multimedia technologies and advertising solutions for mobile operators. According to a market survey published in April by Juniper Research, the annual mobile advertising budget is expected to pass the $ 1 billion mark in 2008, reaching $1.3 billion by the end of the year.
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2008
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