Vantrix raises $12M in venture capital

Vantrix Corp., a provider of technology that delivers content to cellphones, announced it raised $12 million in venture money.
The Manhattan-based company will use the money to expand globally and improve its technology as well as for research and development. Media companies and wireless carriers use Vantrix’s technology to deliver video programming, advertising and other multimedia content to cellphones.
“We are proud to see our strategy validated by this new round of financing,” Chief Executive Manish Jha said in a statement.
The industry that provides entertainment and other content to mobile communication devices is expected to grow 50% this year, generating $1.5 billion in revenue.
Chicago-based venture capital firm JK&B Capital led the financing and previous Vantrix investors SummerHill Venture Partners, Entrepia Ventures, BDC Venture Capital and Innovacom, France-based Telecom’s venture arm, also put money into the company. So far, Vantrix has raised $24.5 million in venture capital.
“Vantrix possesses the intellectual property and vision to facilitate the mass market adoption of mobile media,” said Ali Shadman, a partner at JK&B Capital, who has joined Vantrix’s board of directors. “Its unique technology and strong management team make a very powerful combination. We are excited to help Vantrix capitalize on the many opportunities ahead.”
The three-year-old company opened operations at a new Lower Manhattan headquarters at 70 Laight Street, expanding from Montreal, Canada. Additionally, it recently opened a sales and research and development office in Bangalore, India. Vantrix also has offices in Europe and the Middle East.
Amanda Fung is a reporter for Crain’s New York, a sister publication to RCR Wireless News. Both publications are owned by Crain Communications Inc.