UK WIRELESS SPECIALIST ELATA - ANNOUNCES EUR10 MILLION FUNDING TO CONTINUE EXPANSION Monday 3 September 2001 PDF Print elata funding means real cash flow opportunities for mobile service providers 3rd September 2001 – Innovative mobile data software specialist elata, today announced funding of EUR10million (£6.3m, $9.1m) from Royal Bank Ventures, the technology venture capital fund of The Royal Bank of Scotland, and nCoTec Ventures, the venture capital firm focused on enabling communications technologies. The elata senses software platform is a world first, enabling mobile operators to deliver, personalise and manage profitable data application services to their customers, such as Java gaming applications, MP3 files, WAP content, enterprise applications and other rich media services and lifestyle packages. elata will use this latest round of funding to support and extend its position as a leading provider of wireless software. The company is already running trials with many of Europe's mobile operators, providing them with the first real commercial solution to address the service revenue issues they face. The ability to model a subscriber base by market segment and manage any device from Java and WAP phones to PDAs and next generation handsets means elata senses is set to play a key role in the future success of the mobile service provider. Gavin Freed, Chief Executive Officer of elata, said: “With the current negativity in the telecoms and technology markets, we see this investment as a true endorsement of the software we have developed and the commercial proposition we offer to mobile operators. With all the issues mobile operators face in delivering new services to new devices, elata senses offers real carrier class solutions covering a broad range of services across all devices and platforms.” Andy Halsall, Investment Executive at nCoTec Ventures, said: “elata is the leader in the mobile application provisioning market. The company's software fills a critical need for mobile operators by allowing them to efficiently and profitably manage the delivery of value added applications. elata's critical role in the mobile value chain makes the company a very welcome addition to our portfolio.” Gavin Petken, Investment Director at Royal Bank Ventures added: “Wireless Java is becoming an increasingly important technology for accelerating the uptake of mobile data services. elata's carrier class technology is robust and scalable but above all, it enables the delivery of applications and data to mobile devices through a platform that is easily integrated into any generation of mobile network infrastructure. This technology is relevant and useful today and as such, elata represents an important addition to the RBV portfolio.” elata senses is a product which is instrumental in assisting mobile operators to recoup part of their investment in broadband licences. This platform is vital for network operators as it enables them to deliver profitable data services today and in the ‘always on’ environment, essential if they are to enhance customer loyalty and create new revenue streams. -ends- About elata elata has been developing Java software solutions since 1996 and has created elata senses to address the needs of the mobile service provider. Platform and device independent, elata senses enables the service provider to: * Deliver all types of data services and applications to mobile devices. * Manage services and applications on all mobile devices, from WAP phones and PDAs to Java and next generation handsets. * Manage and model a subscriber base by profile or proposition, to enable targeting and personalisation of user services. elata senses offers carrier class scalability and fully integrates into an end-to-end OSS/BSS system. Whether delivering targeted services or managing the mobile desktop, elata senses removes the complexities of modern data delivery and management and sets a clear migration path to third generation technologies and beyond. Visit the website at http://www.elata.com elata was previously funded by, and continues to work with, the Hugh Symons Group plc, a UK leader in IT and communications distribution. For more information, please contact: Emma Bickerdike elata Tel: +44 (0)1202 714 409 email@example.com Simon Lloyd / Claire Smither Nelson Bostock Communications Tel: +44 (0)20 7 229 4400 Mobile: +44 (0)7747 618 825 firstname.lastname@example.org / email@example.com About nCoTec Ventures: nCoTec is an independent technology venture capital firm which invests in enabling communication technologies. nCoTec's main activity is to make early stage investments of EUR500,000 to EUR5 million in high growth technology businesses. nCoTec has offices in London and Stockholm. Visit the website at http://www.ncotec.com For more information, please contact: George MacRitchie nCoTec Ventures Tel: +44 (0)20 7947 8800 Mobile: +44 (0) 7947 590371 firstname.lastname@example.org Annabel O’Connor GCI Financial Tel: +44 (0)20 7398 0800 Mobile: +44 (0)7711 608747 email@example.com About Royal Bank Ventures: Launched in January 2001, Royal Bank Ventures (RBV) forms part of The Royal Bank of Scotland's Private Equity Group. RBV is a new venture capital fund that targets high growth information technology and communications companies in the UK and Europe, from early stage investments through to pre-Initial Public Offering opportunities. RBV typically invests between £1m and £10m, although larger deals are also considered. Particular areas of focus for the fund include enterprise application software, internet infrastructure and web enabling technologies, and communications software and hardware, including wireless and broadband applications and technologies. RBV has investment executives based in London and Edinburgh. For more information, please contact: Gavin Petken Royal Bank Ventures Tel: +44 (0)20 7842 0117 Mobile: +44 (0)7973 431458 firstname.lastname@example.org Murray Parker Royal Bank of Scotland Tel: +44 (0)20 7920 5051 Mobile: +44 (0)7799 582002 email@example.com This press release was distributed by ResponseSource Press Release Wire on behalf of Nelson Bostock in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.