sMeet Ltd (Germany) - Jan 2008

Hasso Plattner Ventures has led a further €4m funding round for sMeet Ltd, which offers virtual meeting rooms. Previously, the company received €2m in late 2006. The contact was sourced at a venture capital event, where the investor was impressed with the founders and the team of the company and the market potential of the company’s product. The investor stated the intention to take the company global. Currently, funds are being used to scale up the business and increase the capacity of the hardware; the next generation product is expected to be launched in 2008, when the company will also start to generate revenues.

Other stakeholders include Hasso Plattner, who is the biggest shareholder, the founders, Partech Ventures and Morton Lund.

Company

Based in Berlin, sMeet Ltd was founded in 2006 and employs around 25 staff. The company offers a virtual platform which can be accessed through mobile phones via laptop to hold virtual conferences and meetings without requiring the download of specific software. The technology enables clients to use an avatar technology and encompasses audio as well as visual output. Presentations, web pages, images and other documents can be shared among users of a meeting room. This is marketed as a more cost- and time-efficient way to hold meetings.

People

Burckhardt Bonello and Marc Fleischmann are CEOs of sMeet.

Sourced from: Deutsche unquote" 95 (Feb 2008)

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• Topics
• DACH
• Early-stage
• Technology
• Germany