Mobile Devices, a leading provider of technology for telematics, fleet management and navigation applications, has announced the completion of its first round of private investment. The company has raised a total of €3.1 million from Innovacom, the sole financial investor in this private placement.
Mobile Devices enables any company involved in telematics (navigation, driver information and fleet management), to develop, deploy and operate value-added services to their customers. The full line of embedded devices from tracking devices to high end navigation and messaging terminals, the open platform embedded in every terminal, the administration solutions, and the powerful and user friendly development environment help solutions providers quickly bring new products to the market. Mobile Devices also provides a comprehensive catalogue of ready-to-use applications.
"We are delighted to have received this level of financing and are proud to have closed our first round of private equity with Innovacom who are fully confident in the future of our technology," said Aaron Solomon, President and CEO of Mobile Devices Ingénieurie. "Mobile Devices has an aggressive product roadmap which will extend the capabilities of its product offerings. This investment will support the continuous development of our technology and the establishment of an international sales network."
Jacques Meheut, Innovacom's General Partner and a Member of the Board of Directors commented, "We were attracted to Mobile Devices Ingénieurie because its technology addresses key changes to the way services will be designed and made available to vehicle users. These new innovations are necessary to meet a growing demand in location-based services. We believe this is going to be a large and important market and Mobile Devices is in a unique position".
Mobile Devices recently launched the Dreevo, the only Open Connected Navigation device currently available on the market that enables tracking, messaging and navigation in one unique application.