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Xendex announces EUR2.3m Cash Injection


 

European mobile game developer Xendex has announced a €2.3 million funding boost with investors including VC firm PONTIS Venture Partners, Austrian 3United Mobile Solutions and other ‘business angels’.

 

Founded in January 2001, Xendex was among the first companies in Europe to lead the booming mobile games industry. Xendex has developed 45 mobile games in the past, with its – I-Play published – FMX series selling more than two million downloads. Other recent titles from the company included Icy Tower and BEEzzz for Hands-On Mobile and 4 Wheel Extreme also published by I-Play.

 

The company also offers QA, games distribution and portal management services mainly to central and eastern European markets, signing up 70 partners including T-Mobile, Orange and O2.

 

Dr. Christoph Breidert, investment manager at PONTIS, comments on the participation: “It was not only the market successes as seen in recent times and the technically perfected and innovative production processes for mobile games; we were especially convinced by the positive feedback we received from the existing client base. We believe that Xendex is on its way to becoming a global player and wish to support it with our investment and know-how.”

 

Michael Haberl, CEO of Xendex: “After more than seven years of success in the globally dynamic market for mobile games we wanted to join with financially powerful partners to accelerate our further international growth.

 

“Our partnership with PONTIS encourages this path in a consistent and capable manner. We are especially pleased that with PONTIS we will also gain a technologically knowledgeable partner. With the support of the business angels, we will be able to extend both operative and distributional activities, so that Xendex will have even stronger international footing.”


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