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Newspage raises $7.5m in second round financing

The investors are Dresdner Kleinwort Capital, Singtel Ventures, T-Venture and Vickers Ballas & Co Pte Ltd.

Singapore-based mobile wireless solutions company NewsPage has secured $7.5m in its second round of financing. Dresdner Kleinwort Capital, Singtel Ventures, T-Venture and Vickers Ballas & Co Pte Ltdinvested in the round.

Stéphane Delatte, investment manager of Dresdner Kleinwort Capital in Singapore, has been appointed to the board of NewsPage. Commenting on the deal, she said: “We are impressed by the experience of the NewsPage management team, which has built a solid business diversified in a variety of wireless applications over the past five years. NewsPage is well positioned regionally to benefit from the development of wireless applications.”

NewsPage is a mobile software and solution provider which offers wireless applications to enterprises and consumer markets. It provides wireless products for the customers’ sales and value chain processes in courier, logistics and financial industries.

Clients including Unilever, Johnson & Johnson and Yeo Hiap Seng have used NewsPage’s mobile customer-relations management applications to facilitate the sales process. A company statement cites research from IDC which predicts that the number of smart handheld devices would grow to 35.5m units in 2003. It also estimates that the number of wireless users in Asia will increase from 222m in 2000 to 481m in 2003. The Yankee Group forecasts that the wireless data market will grow at more than 40 per cent annually for the next few years.

To exploit these trends, Newspage intends to use the funding to expand its mobile-fulfilment and mobile-supply-chain channels, develop its wireless Application Service Providers (ASP) business and increase its sales force. Frank Siegfried, investment director of T-Venture who will also join the board said: “With the backing of the current investors and partners, the company is in a very strong position to continue to deliver the type of advanced and dependable technology that provides real distinctive value to its customers.”

Most of the company’s business is Asia but it is considering moving into Europe with the help of strategic partners. It employs more than 90 people in Singapore and Malaysia and is currently building up its office in Thailand.