Major venturers back Envivio
Envivio, the software firm that was spun out of France Telecom in 1999, has secured $14m new funding. This is the firm’s second round of funding and takes the firm’s total funding to $17.5m.
Envivio makes software that creates, encodes and distributes MPEG-4 streaming media content. The second round deal came from backers Bertelsmann Capital Ventures, Intel Capital, Harbinger Venture Capital, Innovacom, Credit Lyonnais Private Equity, Maton Venture and Paradigm Capital. In 2000 Envivio landed $3.5m in its first round from Philips Electronics, Sigma Designs, Aurora Ventures, Global Accelerator and France Télécom.
GIMV backs Metris
GIMV has provided E0.5m as part of a E5m investment round in Metris, a developer of laser scanning technology based in Belgium. GIMV also backed the firm’s first round financing in mid-2000.
In addition to the existing shareholders, new investors such as the Japanese NIF Ventures and Sumitomo Corporation as well as Fagus (Fortis) are investing in the company. NIF Ventures and Sumitomo Corporation contributed E2.5m and E0.25m respectively. Metris reported turnover of E5m in 2001, a 50 per cent increase on the figure for 2000.