Mobixell Investors In For More

Mobixell Networks, which provides mobile multimedia and advertising solutions, has secured $6 million (3 million) in funding from existing investors Apax, Intel Capital and smac partners. Mobixell says the funds will help the company address the many opportunities emerging in the burgeoning messaging, video and advertising market. As Mobixell partners directly with operators on large-scale projects, the new funding will enhance customer support and professional services to support these initiatives, as well as further sales and marketing activities.
This investment round will allow us to broaden our range of multimedia solutions for mobile operators and content providers, says Mobixell CEO, Amir Aharoni. We see steady growth in our multimedia messaging business and are highly optimistic about the potential growth of our Mobile TV and mobile advertising solutions in the year ahead. 
Arun Chetty, a Director at investor, Intel Capital says that multimedia and advertising in the mobile market are evolving and hold significant potential for innovation and growth.
We see a unique opportunity for Mobixell Networks to not only continue growing its core business in media adaptation, but also to expand into multimedia and advertising in the mobile market, says Chetty. 
Estimates from industry analyst Juniper Research, released in April 2008, suggest that total annual ad spend on the mobile will exceed $1 billion for the first time in 2008, reaching $1.3 billion by the end of 2008 and rising to nearly $7.6 billion by 2013. The same research also reveals growth for Mobile TV revenues from $3.8 billion in 2008 to $16 billion by 2011.