Airborne and iNovia Capital announced last week a $2million financing round.
Airborne is a Montreal tech company producing mobile tools and applications, with a very diverse product line, from games, SMS apps, to wallpapers, ringtones and mobile marketing tools.
The financing round by iNovia Capital has been presented by both companies as a renewal, after Airborne’s executive team “restructured and refocused” the company, with the investment presented as the main driver now for future growth. Chris Arsenault of iNovia, who has worked previously with Airborne’s founders, also joins the board of directors.
While it’s great to see a VC firm like iNovia support local tech companies, in a booming market (mobile), it’s noteworthy to see that Airborne Mobile has been around for 10 years. It’s a relatively “safe” investment, in a company which is almost a service provider, akin to GameLoft; not a startup with a product. Airborne also stated that more custom games and applications for niche markets were planned for upcoming months, but I haven’t seen references or objectives for promising platforms like Android, the iPhone, or the Blackberry.



Comments
Montreal Tech Watch January 21, 2009
Airborne Mobile Announces $2 Million Growth financing round http://tinyurl.com/7arykn
Chris January 21, 2009
Heri January 22, 2009
Thanks for the insight about the entrepreneurs, and I agree 100% with you on the importance of picking the right team. I’ll be tracking Airborne mobile and looking forward what they will be producing in the next few months.
Nancy Beaton February 09, 2009
RT @mtw Airborne Mobile Announces $2 Million Growth financing round http://tinyurl.com/7arykn
Cleo Weniger January 24, 2011