Siemens Mobile Acceleration invests in Chinese service provider LinkRich
Siemens Mobile Acceleration (SMAC), the leading investor for early-stage wireless, adds another Chinese company to its roster. LinkRich is a fast growing service provider that brings information services from traditional sources – government institutions, enterprises and media houses – to mobile users. The funding amounts to three million dollars in the first round of institutional financing and is provided by Siemens Mobile Acceleration and Morningside Technologies.
The Beijing-based company differentiates itself from other Chinese service providers by focusing on the enterprise market. Specifically, LinkRich uses already existing information from enterprises, government institutions as well as entertainment offerings from media houses and brings them to the mobile phone using SMS, WAP, MMS and IVR platforms. Typical examples of LinkRich’s services include: real-time SMS based banking information services for China Everbright Bank to their VIP customers, and real-time SMS and WAP based flight information for the majority of airports in China. The company is well positioned among its competitors having acquired essential business licenses for the provision of emerging wireless data applications and services, with both mobile and fixed-network operators.
LinkRich is the second company in Greater China that SMAC has funded in year 2004. In total, SMAC holds a portfolio of four companies in that region and has recently completed a successful exit. “The Chinese wireless service sector has grown into a huge market bearing opportunities for Siemens and start-up companies alike. LinkRich represents a valuable enrichment for Siemens China, strengthening its end-to-end value proposition”, said Dr Dietrich Ulmer, CEO of SMAC. “We have high aspirations for LinkRich and would expect it to become one of the top players in the Chinese mobile value-added services sector within the next 12 to 18 months.” Mr. Xulin NIU, CEO of LinkRich commented: “We are very happy to work with SMAC and Morningside to further develop our product roster and bring the company to its full potential.” George Chang, Vice Chairman of Morningside Technologies added: “LinkRich has a unique business model and an excellent management team comprising seasoned telecom professionals. This round of financing enables the company to explore opportunities in the areas of enterprise communication services and fixed-mobile convergence.”
Siemens Mobile Acceleration (SMAC) is a wholly owned subsidiary of the Siemens Communications Group. Siemens Mobile Acceleration fosters early stage start-ups that focus on wireless applications and technologies for mobile communication by providing funding and strategic counsel. Headquartered in Munich, Germany, Siemens Mobile Acceleration seeks investment opportunities in Europe, Asia and North America.
( www.siemensmobileacceleration.com)(www.morningside.com)
The Beijing-based company differentiates itself from other Chinese service providers by focusing on the enterprise market. Specifically, LinkRich uses already existing information from enterprises, government institutions as well as entertainment offerings from media houses and brings them to the mobile phone using SMS, WAP, MMS and IVR platforms. Typical examples of LinkRich’s services include: real-time SMS based banking information services for China Everbright Bank to their VIP customers, and real-time SMS and WAP based flight information for the majority of airports in China. The company is well positioned among its competitors having acquired essential business licenses for the provision of emerging wireless data applications and services, with both mobile and fixed-network operators.
LinkRich is the second company in Greater China that SMAC has funded in year 2004. In total, SMAC holds a portfolio of four companies in that region and has recently completed a successful exit. “The Chinese wireless service sector has grown into a huge market bearing opportunities for Siemens and start-up companies alike. LinkRich represents a valuable enrichment for Siemens China, strengthening its end-to-end value proposition”, said Dr Dietrich Ulmer, CEO of SMAC. “We have high aspirations for LinkRich and would expect it to become one of the top players in the Chinese mobile value-added services sector within the next 12 to 18 months.” Mr. Xulin NIU, CEO of LinkRich commented: “We are very happy to work with SMAC and Morningside to further develop our product roster and bring the company to its full potential.” George Chang, Vice Chairman of Morningside Technologies added: “LinkRich has a unique business model and an excellent management team comprising seasoned telecom professionals. This round of financing enables the company to explore opportunities in the areas of enterprise communication services and fixed-mobile convergence.”
Siemens Mobile Acceleration (SMAC) is a wholly owned subsidiary of the Siemens Communications Group. Siemens Mobile Acceleration fosters early stage start-ups that focus on wireless applications and technologies for mobile communication by providing funding and strategic counsel. Headquartered in Munich, Germany, Siemens Mobile Acceleration seeks investment opportunities in Europe, Asia and North America.
( www.siemensmobileacceleration.com)(www.morningside.com)
posted by Rico Biriah at 10:06 am
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