MONTREAL – Bluestreak Technology, Inc., the developer of the MachBlue platform for mobile phones and digital television, announced today that it has secured US$20 million dollars in Series D financing.
France’s Iris Capital, a new investor, led the round, which also includes internal investors Solidarity Fund QFL, BDC Venture Capital and First Capital Group along with new investor Tomorrow Group from Korea. Proceeds will be used to expand development of the company’s award-winning MachBlue™ platform and to further consolidate the company’s presence in the European and Asian markets.
Over the past months, Bluestreak has signed numerous deals, including partnerships with Symbian and ACCESS, to establish MachBlue as the go-to platform for the development of rich-media applications on mobile phones and digital TV devices.
Alexander Wiedmer, partner at Iris Capital, said in a press release, “We believe that Bluestreak’s unique technology is poised to capture a sizable market share in Europe as operators look to leverage content through rich media applications. Orange’s success with its Bluestreak powered applications in France has already validated this approach.”
“This has been a breakout year for Bluestreak. Since the beginning of 2007 we’ve announced JAVA and BREW versions of MachBlue Mobile and new partners in Dutch operator KPN and Thomson on the DVB-H side. Our digital TV business has also been growing substantially, with great strides in the IPTV sector. This latest round of financing, propelled by geographically diverse investors, will allow Bluestreak to further consolidate our position in the fast-growing rich media market and to continue winning major accounts worldwide including in the Chinese and Korean markets,” said Bluestreak CEO Paul Forostowsky.
