Deal round-up 06/09/02

Venture firms back communications business; TLcom backs Axerra Networks

Venture firms back communications business

Two UK venture capital firms have led a £2.3m investment round for wire-e, a Coventry based developer of communications systems for telephone and internet services.

Top Technology Ventures and VCF Partners led the financing, which will be used by wire-e to finance additional sales and marketing expenditure and product development. The company launched its Rapide Assistant on Vodafone’s UK network earlier this year.

TLcom backs Axerra Networks

UK-based venture capital firm TLcom Capital Partners has backed the second round financing of Axerra Networks, an internet software services busines based in Florida. The $10m raised by Axerra will be used to further develop the firm’s internet protocol technology.

TLcom, which invested in Axerra for the first time, led the second round financing and was joined by first round investors who provided half of the $10m total. TLcom Capital Partners manages E185m for investments mainly in European and in US-Israeli start-ups.