Truphone in £12.5 million funding round

Mobile internet network operator Truphone has secured £12.5 million in the largest initial round of venture capital funding in the European technology sector in 2006.

The round was led by Wellington Partners.

Wellington was joined by media groups Burda Digital Ventures and Independent News and Media, Eden Ventures and business angels.

The funding enables Truphone to provide new services to mobile phones by increasing the number of handsets it supports and launching its service internationally.

Kent-based Truphone was founded in 2000. It has development teams and partners in the US, UK, Finland and Romania. In December 2006 Truphone was chosen by the World Economic Forum as a Technology Pioneer for 2007.

Wellington’s Joerg Ueberla says: ‘We led this round of investment because we have followed the rapid rise of VoIP on the fixed-line network and believe that VoIP will now move to mobile devices. ‘

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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