QUALCOMM invests in Streamezzo

QUALCOMM Ventures has invested in French mobile software company Streamezzo, as venture capital firms attempt to find alternative ways of making profits from the mobile industry.

QUALCOMM Ventures has taken part in the second funding round into French mobile software company Streamezzo investing an undisclosed sum.

Streamezzo provides technology for TV use on mobile phones as well as music applications and other user interfaces.

Frédéric Rombaut, head of QUALCOMM Ventures in Europe said: “QUALCOMM Ventures selected Streamezzo as its first direct equity investment in Europe because of the company’s exceptional value proposition and business prospects.”

QUALCOMM joins investors from the first funding round, AXA Private Equity, T Source, France Télécom Technologies Investissements and GET Valorisation, as well as more recent investors Sofinnova Partners and Sofinnova Ventures. In the first round Streamezzo secured funding of €5 million, of which €2.1 million came from AXA.

With growing regulation in the mobile sector exemplified by yesterday’s decision in Brussels to restrict overseas roaming charges to €0.49 a minute, venture capital firms are investing in alternative ways of making profits from mobile customers.

Mobile television and other extras are mooted as means of increasing incomes in the highly competitive mobile sector. Earlier this year Truffle Ventures completed the management buyout of MoMac for an undisclosed sum.