Mobile entertainment provider Dwango North America has raised $3 million in institutional funding from Weiss, Peck & Greer Investments. The announcement comes on the heels of an earlier round that saw Dwango secure more than $5 million from Alexandria Investment Management. “This most recent investment will drive continued product development, brand acquisitions and international expansion to meet increasing global demand for our mobile entertainment content,” said Dwango Chief Executive Officer Rick Hennessey.
Modem-Art, which makes baseband processor chips for W-CDMA terminals, said it has closed $8.4 million in funding. Fund adviser Apax Partners led the round with $4.2 million. Other companies that participated included Genesis Partners, Tamir Fishman, Bancboston, Argoquest, Gidi Barak and others. “Modem-Art has signed several strategic partnerships with leading companies in the cellular market,” said the firm.
U.K. mobile entertainment company Monstermob Group acquired Denver-based content provider 9 Squared Inc. Monstermob paid $2.95 million in cash for 9 Squared and will hand over as many as 22 million shares of Monstermob next year, depending on 9 Squared’s fourth-quarter financial performance. A provider of ring tones, games and wallpaper, 9 Squared said the acquisition will enable it to pursue additional foreign markets. “The Monstermob deal provides 9 Squared with significant resources and experience to solidify our vision of being a worldwide mobile content player,” said James Eberhard, founder and chief executive officer of 9 Squared.
Scalado AB, which provides mobile digital imaging platforms and applications, said it received new financing of about $2 million in a share transaction. The company said it will use the money to expand its organization and continue development of its products. Industrifonden, a new investor in the company, will invest nearly half of the funding, while existing owners Olicom A/S and Teknoseed will provide the remainder.
