Communology raises $10 Million

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Cologne: German software and solution provider Communology has raised a new round of venture capital worth 7 million euro ($10 million). With this investment, the company will drive the development of new types of mobile multimedia services and will expand its business into new regions. The main focus will be on the rapidly growing market segments of mobile social communities, mobile marketing and mobile instant messaging. Besides the new lead investor Munich Venture Partners, the existing investors S-VC, Kreditanstalt fur Wiederaufbau, and both founders, Thomas Kahler and Frank Bell, participated in this second round of financing. "This investment provides us with the financial resources to turn our visions into reality," commented Thomas Kahler, CEO and co-founder of Communology. "We are now in a position to deliver new products and mobile solutions more quickly and to foster our international strategy in new promising markets." Dr. Walter Grassl, Managing Director of Munich Venture Partners said, "Communology is a leading international player in the mobile communications industry providing mobile multimedia applications to well-known companies like Vodafone, T-Mobile, AT&T, Ericsson, Nokia, Sony Ericsson, Telefonica and RIM." Communology's technology has been deployed within mobile phone manufacturers, mobile communications network operators and customers from the media and IT industry.