Pressrelease
For immediate release - February 8, 2001
BlueGiga Technologies secures
€1.5M in Seed Funding from leading Finnish VC, Eficor and a
consortium of private investors
HELSINKI AND STOCKHOLM
February 8, 2001- BlueGiga Technologies, based in Espoo, Finland
and Stockholm Sweden - a provider of a flexible, multi-purpose Bluetooth™
platform, announced today the completion of a €1.5M round of
seed financing lead by one of the leading Finnish VCs, Eficor and
a consortium of private funds and investors. BlueGiga Technologies'
Personal Area Networking (PAN) offering provides OEMs with a total
Bluetooth™ solution in a flexible, multi-purpose platform consisting
of hardware and full software suites. The company's solution is
especially aimed at enabling seamless connectivity between mobile
terminals and electronic devices, and it is designed to significantly
lower the investment and "time-to-market" for OEMs in
developing Bluetooth™ applications.
We expect the Bluetooth market to take of in 2002 as the early problems
are taken care of", says Mr. Ari Torpo, partner at Eficor Venture
Investments. "BlueGiga and its management represent solid experience
from the electronics industry. We have high expectations on the
Bluetooth market and BlueGiga", Mr. Torpo concludes.
"BlueGiga's technology is from the beginning designed to suit
well into a wide range of application areas, both existing and emerging,
where implementation of Bluetooth™ is expected to be very significant",
said Jarkko Jukarainen, BlueGiga's CEO."We are also delighted
about the response and the support we have received from the investor
community during this round, and are pleased of having teamed up
with a strong industry network of seed investors and board advisers."
BlueGiga aims to close its next round of funding by autumn, 2001
enabling the expansion of the company beyond the prototype and pilot
project phase.
About Bluetooth™
Bluetooth™ is a wireless communication technology that allows
mobile phones, PDAs, PCs and other electronic devices to talk to
each other. Developed to promote the use of wireless communications
worldwide, it is a specification for small form factor, low-cost,
short-range radio links between a variety of portable and mobile
computing devices. The Bluetooth™ Special Interest Group (SIG)
consists of over 2,000 telecommunications and computing companies.�
For more information, visit the Bluetooth™� Special Interest
Group Web site at www.bluetooth.com
The Bluetooth™ trademark is owned by LM Ericsson AB, Sweden.
About Eficor
Eficor is a technology focused investment bank operating in Helsinki,
Finland. Eficor offers services in the areas of Online Brokerage,
Asset Management, Corporate Finance, Venture Investments and Business
Development Consulting, with Internet and mobile solutions capabilities.
Eficor offers to both private and institutional investors the most
sophisticated Internet and mobile financial services for corporate
finance, venture investment and stock trading activities. Eficor
currently employs over 60 investment and technology professionals.
In January 2001, Eficor and Holtron, a leading Finnish Venture Capital
and ICT company, merged their businesses. Holtron, and its eight
(8) technology experts, form the core of Eficor's Venture Capital
and Business Development Consulting activities.
Contact for BlueGiga Technologies:
Finland
Jarkko Jukarainen, Managing Director
BlueGiga Technologies
Tel: +358 405 502264
e-mail: [email protected]
Sweden
Hans Holmberg, Marketing Director
BlueGiga Technologies
Phone: +46 733 327172
e-mail: [email protected]
Contact for Eficor:
www.eficor.com
Ari Torpo, Partner
Tel: +358 50 338 0697
e-mail: [email protected]
Pekka Ruusunen, Director
Tel: +358 400 410 533
e-mail: [email protected]
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