News
Caja Navarra invests in Solaiemes through its VC Fund Eurecan. 10/January/2008
Madrid. Solaiemes, start-up focused in mobility, solutions infrastructure supplier has announced the incoming capital subscribed by Eurecan Alto Rendimiento, the VC Company of Caja Navarra. The entry of Caja Navarra into the capital of Solaiemes is an important step in the development of their strategic plan, which aims to establish it as the leading mobile multimedia solutions infrastructure supplier and a leading Carrier/MVNO consultancy firm. Solaiemes, initially funded by founders and a seed capital loan by Eurecan had reached an agreement to convert it to equity with additional invested amount. A EureCAN representative will join Solaiemes board.
The investment will support the development of an ambitious business expansion plan and innovation of its product portfolio. The investment is focused on the growth of the company, on the consolidation on its national presence, gain global brand awareness attending main telecommunications exhibitions, and to continue with its ambitious R+D programme in mobile usability and IMS added value use cases.
The company, founded in Q4'2006, after a Q1'2007 with limited commercial activity ended 2007 with 8 people staff and the aim is to increase the number of staff to 20 professionals during 2008.
Achieved meaningful milestones during our first year were being shortlisted as GSMA Mobile Top Innovators for Asia Mobile Congress (nov'07 Macau) and Guidewire Groub Global Innovator at Innovate Europe 07 (april'07, Zaragoza), successful trial of innovative services in a tier one carrier and completing our series A round with Eurecan Investment and CDTI (Ministery of Industry) entrepreneur soft loan.
"We are happy to have CajaNavarra Eurecan on board, Eurecan supported us from the hard beginnings and this new step shows how VC and start-ups can cooperate and grow together"
About Eurecan
Eurecan Alto Rendimiento is the vehicle of investment in the development of enterprise projects with great potential of growth. The creation of Eurecan Alto Rendimiento is one of the initiatives of Eurecan, the platform of Caja Navarra to support the entrepreneurs and to share its risks.
Thorough it they offer, in addition to financing, knowledge and experience to create and to consolidate new companies, to help them getting into the international markets or to look for investors for innovative projects.
In Eurecan 1,017 entrepreneurs have been supported with 46 million euros.
Among its main initiatives there is Eurecan Copiloto, the mentors’ network that serves as a guide to young entrepreneurs. www.cajanavarra.es
About Solaiemes.
Solaiemes is a mobility-focused technology company, with a value proposition strongly focused on creating innovative, new use cases for mobility, and increasing usability on the mobile side. Solaiemes pioneers in SIP/IMS solutions and use of SVG technologies to enhance usability. Also, offering know-how as mobile consultants. Shorlisted as one of GSMA Mobile Top Innovator at Asia Mobile Congress 2007. www.solaiemes.com
contact: info@solaiemes.com