Asia
ECONZ Raises $3 Million
By New Zealand
Dec 12, 2005, 14:42

ECONZ, New Zealand’s leading developer of wireless software, has secured a $3 million investment for its associate company, ECONZ Wireless, from venture capital firm iGlobe Treasury Management.

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ECONZ Wireless is a leading developer of mobile business solutions for the Small-to-Medium Sized Business (SMB) market in industries including: field service, construction and professional services.

ECONZ Wireless connects mobile workers to their offices using cell-phone based in-field applications that communicate with password protected websites for back-office use. In this way ECONZ Wireless applications are low-cost, accessible, simple to use and easy to set up; in short, ideal for the SMB market. ECONZ Wireless applications have no contracts and are billed monthly providing an immediate return to their customers’ businesses.

iGlobe Treasury VIF is one of five venture funds selected by the New Zealand Government’s Venture Investment Fund (VIF) scheme. It is also the first fund to be backed by both the governments of Singapore and New Zealand.

The Fund provides an innovative platform to grow young New Zealand companies in the global marketplace by blending the creative strengths of the talent pool in New Zealand with the international management and capital capabilities of the international networks of its associate, iGlobe Partners. The Fund is managed by iGlobe Treasury Management.