Asia
MobiApps Raises $ 10 Million Series B
By Singapore; Bangalore, India and Bethesda, MD
Dec 15, 2005, 23:59

MobiApps Holdings Pte Ltd today announced that it closed a US$ 10 million Series B investment. The financing round was led by UOB Venture Management, and other new investors included Intel Capital. Existing investors also participated, including Partners Group.

INFO SOURCES

MobiApps Holdings Pte Ltd.

FIRMS

MobiApps(TM) is a leading provider of products and platforms for tracking, monitoring and managing industrial equipment and assets. Its core technologies include advanced multi-mode platforms for machine to machine communications utilizing GSM/GPRS, CDMA, and Satellite transceivers. In addition, the company offers a ready to use web services platform for enabling customers to deploy enterprise applications for managing their equipment and assets, thereby extending their ability to manage remote fixed and mobile resources. The platforms are currently being utilized by customers for commercial vehicle Telematics and fleet management, marine Telematics, remote Metering and remote Security applications worldwide. MobiApps has operations in Singapore, Bangalore and Bethesda, MD and a joint venture with TATA Autocomp Systems Ltd (TACO MobiApps Telematics Ltd).

ADVISORS

Beacon Advisory acted as financial advisors to the company for this equity funding.