Taylor Wessing acts for Mobile Internet start-up Truphone in the European technology sector's largest Series A VC funding of 2006
Taylor Wessing acts for Mobile Internet start-up, Truphone in the European technology sector's largest Series A VC funding of 2006.
Taylor Wessing acts for Mobile Internet start-up, Truphone in the European technology sector's largest Series A VC funding of 2006.
Leading pan-European VC Wellington Partners led the £12.5 million ($24.5m) funding round with global media groups Independent News & Media and Burda Digital Ventures joining existing investors Eden Ventures and business angels.
Truphone is a UK Mobile Internet Network Operator founded in 2000. In 2006 Truphone introduced internet telephony (‘VoIP’) to mass market mobile phones, enabling users to make free calls from their handsets worldwide. The World Economic Forum voted Truphone ‘Technology Pioneer for 2007’ in December 2006. The new funding represents a significant milestone in enabling Truphone to realise its vision to radically change the economics of the market and provide wholly new internet-enabled services to customers’ handsets. This will create a worldwide Mobile Internet Network Operator providing a critical mass of customers with a free/low-cost alternative to conventional cellular network service providers.
Corporate Partner, Simon Walker led the Taylor Wessing team, assisted by Associates Susanna Stanfield and Sian Skelton.
Simon Walker commented, "We are delighted to advise Truphone on this significant funding round only a year after we advised in its seed round."
Notes to editors
For more information please contact Sheena Leeat Taylor Wessing:
Tel: +44 (0)20 7300 4930
Email: s.lee@taylorwessing.com
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