Apax leads £15m Nexagent round
Apax Partners has led a £15m Series B round of financing for Nexagent, a UK provider of independent multi-carrier interconnect services. The Series B round takes Nexagent’s total funding to £28.2m and includes follow-on funding from Atlas Venture and Benchmark Capital, who led the first round, as well as Quester Capital and Lago Ventures.
Reading-headquartered Nexagent was founded in July 2000 by Charlie Muirhead, previously founder of Orchestream, and Chris Gare, former director of Advanced Technology at Cable & Wireless.
As part of the agreement, Mike Grabiner, a director of Apax Partners, will join the Nexagent board.
DVC, Motorola back UK software provider
DVC Deutsche Venture Capital and Motorola have led a $6m Series A financing round for Apertio Limited, a UK-based infrastructure software provider to the mobile telecoms industry. The Tokarz Group and Eden Ventures, who provided the first round funding, also participated in this round.
“We are very confident that this latest round of financing will help establish Apertio as a leading software company in one of the fastest growing areas of mobile technology,” said John O'Donohue, managing director at Motorola Ventures. “There are huge opportunities now that 2G networks are becoming more widespread and 3G networks are starting to launch around the world.”
“This second financing round will enable us to build on a successful year of very rapid development and sales achievement,” said Paul Magelli, CEO and a founder of Apertio. “We have the backing of DVC as a leading European venture capitalist and Motorola, a global wireless leader, which will be key elements in our future success.”
Giza leads Cellectivity round
Cellectivity, a UK provider of e-commerce platforms for the mobile phone and interactive television sectors , has completed a $2m fundraising round led by Giza Venture Capital. The investment follows an earlier round of $3m provided by Benchmark Capital.
Cellectivity was founded in May 2001 through Benchmark’s enterpreneurs-in-residence program. Founder Eithan Ephrati previously co-founded Trading Dynamics, which was sold to Ariba Inc.
VCs back $15m CoreOptics investment
A group of international venture capital firms have backed a $15m series C fundraising round for CoreOptics, a developer of optical network solutions based in the US and Germany.
Existing investors Crescendo Ventures, Techno Venture Management, High Tech Private Equity and Atila Ventures/ETV participated in the round. Ian Jenks, a partner of Crescendo and chairman of the Coreoptics board, said: “CoreOptics’ achievement in raising funds in such a tough environment is a strong vote of confidence in the management team and the company’s ability to execute on its business plan.”
The financing will enable the company to achieve breakeven by 2005, according to Hamid Arabzadeh, president and CEO of CoreOptics.