ActiveSky Secures $21.8 Million in Venture Capital.Business Editors REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--Dec. 28, 2000 ActiveSky has secured $21.8 million in funding from investors led by U.S.-based JK&B Capital. The proceeds will allow the company to further commercialize its technology used for wireless delivery of video and multimedia images to cell phones, PDAs and other mobile devices. ActiveSky's technology adds a new dimension to wireless Internet connectivity, entertainment, games and other mobile applications. "ActiveSky has a vision and, most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , a breakthrough technology that will revolutionize the emerging domain of wireless Internet connectivity," Ali Shadman, executive member, JK&B Capital, said. "We like ActiveSky's approach of optimizing their high quality multimedia solution for a wireless world which demands low battery and bandwidth consumption. We are pleased to be a financial and business partner." ActiveSky recently signed a partnership with Handspring to supply a multimedia player for Visor Prism and Platinum units. The company also earned "Best of Show" honors at Fall Internet World 2000 in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . "We are in a tough market for raising capital in which only companies with proven technologies and business models are being funded," Scott Marquardt, chief executive officer, ActiveSky, said. "More rich-media content for mobile devices has been encoded in the ActiveSky format than any other technology. ActiveSky has been shipping PDA-based products for six months and is ready to take the lead in wireless mobile imaging." Additional investors include Star Ventures (Germany/Israel), Comverse (United States/Israel), Innovation Capital (Australia), Sumitomo (Japan), PacRim Venture Partners (United States) and Waypoint way·point n. A point between major points on a route, as along a track. Ventures (United States). About JK&B Capital JK&B Capital is a $600 million venture capital firm based in Chicago. Recent successful initial public offerings of JK&B portfolio companies include: Exodus Communications, Phone.com, Commerce One, Interwoven in·ter·weave v. in·ter·wove , in·ter·wo·ven , inter·weav·ing, inter·weaves v.tr. 1. To weave together. 2. To blend together; intermix. v.intr. , MPower Communications, Silverstream, Selectica, Daleen, SCC SCC - strongly connected component Communications and Viador. Portfolio companies that have been acquired include Andromedia (acquired by Macromedia), 21st Century Telecom (acquired by RCN RCN n abbr (= Royal Canadian Navy) → kanadische Marine ) and Coretek (acquired by Nortel). Information about JK&B Capital is available at www.jkbcapital.com. About ActiveSky ActiveSky creates products and services that enable the distribution of visual media content to mobile devices. ActiveSky's proprietary encoding, distribution, streaming and playback technologies enable a broad range of applications and are designed to perform on both high speed wireless networks, as well as today's low Today's Low The intra-day low trading price. Notes: In other words, this is the lowest price that a stock traded at during the course of the day. More often than not this is lower than the closing price. See also: Today's High bandwidth connections. ActiveSky has headquarters in Redwood City, Calif., with offices in Europe and Australia. For more information, visit www.activesky.com. |
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