FINLAND - Nexit Ventures and FII support Axel with EUR 2.4m

Axel Technologies is a developer of mobile TV technology. It has created a multistandard platform which enables device manufacturers to offer mobile TV to all portable devices. Founded in 2003 after an MBO from a Finnish advertising firm, the business is now based in Turku and Hong Kong.

Nexit Ventures invested EUR 1.1m in the company in March last year, joining existing investor Finnish Industry Investment. The recent capital injection will fund continued efforts in global sales and marketing as well as R&D.

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• Topics
• Expansion
• Nordics