MEUR 2.4 investment in mobile TV software company Axel Technologies

Investments in companies - 21.1.2009

Axel Technologies Oy, a software company specialising in mobile TV technology, has received a follow-on investment of MEUR 2.4. The investors in this investment round, Nexit Ventures Ltd and Finnish Industry Investment Ltd, have also previously invested in Axel Technologies. A stronger balance sheet will enable Axel to boost global sales and marketing with the aim of becoming the market leader in this special industry. The investment will also be used to intensify R&D activities focused on anticipated development in the mobile TV market.

The company’s mobile TV package allows users to watch TV broadcast via all portable devices: mobile phones, media players, car navigators, pocket computers and other portable devices with a colour screen. Axel’s mobile TV solution supports all current major standards, and brings an easy-to-use mobile TV interface to also inexpensive devices.

Axel Technologies ranks globally among the top five companies developing mobile TV technology, and is the sole supplier of mobile TV receiver software. The company has concentrated its R&D in Turku, Finland, and has a global sales and marketing network. Currently the company’s Hong Kong sales office provides services for the Asian market.


Further information:

- Petri Kalske, CEO, Axel Technologies Oy,
tel. +358 400 638 880, petri.kalske (at) axel.fi, www.axel.fi

- Heli Kukko, Investment Manager, Finnish Investment Industry Ltd,
tel. +358 400 772 833, heli.kukko (at) industryinvestment.com, www.industryinvestment.com

- www.nexitventures.com