Investors are still eager to invest in the growing wireless sector, despite continued concerns over the roll-out of 3G. Perhaps the most prominent deal was the latest round of funding for four year-old wireless OS developer, Symbian. Existing shareholders Matshusita, Motorola, Nokia, Psion and Sony Ericcson all contributed to the hefty £20.8 million (EU34.6m) investment.
At the other end of the spectrum, Maskina’s flagship product, the Wizard, proved novel enough for venture capital firm Argnor Wireless Ventures to stump up EU900,000 in first round funding. The Wizard, billed as a peer-to-peer mobile service generator, allows mobile subscribers to create their own text-based services and contents. The money is earmarked for the development of version 2 of the Wizard, scheduled for release in the second quarter of 2002.
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