Deal Round-up 24/01/02

UK mobile software house takes E11.9m; Swedish radio developer secures $11m; TissueInformatics takes $12.5m funding.

UK mobile software house takes E11.9m

Intuwave, a mobile software house, has secured E11.9m funding from a group of investors including Belgian firm GIMV and 3i. The money raised will be used to complete development of the firm’s wireless middleware product, m-Network.

Gimv invests in information and communication technology, biotechnology companies and companies from more traditional sectors in Belgium and abroad.

Swedish radio developer secures $11m

Spirea, a Swedish company developing integrated multi-standard RF solutions for the wireless LAN and PAN markets, has taken $11m second round funding. Pan-European VC Prime Technology Ventures (PTV) led the round, which included NIB Capital Private Equity and Ventech. Existing investors Kennet Capital, Zodiak Venture Capital and Kaupthing Investment Bank reinvested.

PTV invests in fundamental hardware and software technologies in wireless, networking and the Internet. It focuses on technology centres in Cambridge, the Netherlands, Finland, Sweden and Israel.

TissueInformatics takes $12.5m funding

TissueInformatics, a company developing tissue imaging systems and analysis software for the pharmaceutical industry, has secured $12.5m funding.  TVM Techno Venture Management led the round through its Boston office with The Manufacturers Life Insurance Company also contributing.

Other investors in the round were InforMax, Pittsburgh-based Birchmere Ventures and The Future Fund.  New individual investors organized through Smithfield Trust Company and existing shareholders also invested. This is TVM’s fourth investment in a Pittsburgh-based company.