Montreal, Quebec – February 12, 2008 – Vantrix Corporation (http://www.vantrix.com/), a leading provider of mobile content delivery solutions, announced today that it has secured US $5.25 million in financing from MMV Financial Inc. This is in addition to the recent financing of US $12 million from current and new investors, which brings the total capital raised by Vantrix to date to almost US $30 million. Vantrix will use the proceeds from this financing to support its global sales and marketing expansion, as well as its engineering and R&D efforts.
"Vantrix has built an innovative technology platform in a very dynamic market that addresses the need of carriers and content providers to deliver high quality mobile media services to consumers regardless of the phone and network they use," said Jacques Perreault, Senior Vice President, MMV Financial Inc. “We at MMV are excited about working with the company and we believe Vantrix will become the leader in the mobile content delivery market."
“This latest round of financing is a strong testament to the interest in the marketplace in what Vantrix is doing,” said Manish Jha, CEO or Vantrix. “Our disruptive technology provides the most scalable solution to bring mobile TV and other multimedia services to the mass market without compromising the quality of the user experience. We are delighted to welcome MMV Financial to our team of investors and look forward to working with them.”
About Vantrix Corporation.
Vantrix makes video work. Our focus is to deliver the best customer experience on a mobile phone. Vantrix overcomes the technology hurdles of providing video on demand, live TV, video alerts, user-generated content, video share, and any other type of multimedia in mobile and other digital platforms. And we do it in a way that helps our customers choose and implement the right business model for their multimedia services. Leading companies like ABC News, Orange, T-Mobile and The Weather Channel already trust Vantrix to satisfy their mobile media needs. Whether it’s on-deck or off-deck, premium-based or ad-supported, push or pull, we put video to work for you. Vantrix is headquartered in Montreal with offices in New York, London, Dubai and Bangalore. See the difference at http://www.vantrix.com/.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec,HSBC, NewStar Financial Inc., and Wells Fargo Company. For more information please visit www.mmvf.com.
MMV Financial Inc.
Senior Vice President
Tel: (514) 789-6425
Vijay S. Chattha
Tel: (415) 305-6041
Copyright ©2008 MMV Financial Inc. All rights reserved.