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FRANCE - Eyeka announces $5m Series-A round

Guy
14 March 2006

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Eyeka, a provider of mobile video and image service applications, announced today that it has completed a $5m Series-A round. Ventech Capital, based in Paris, invested $3.2m and DN Capital, based in London, provided $1.8m. This marks the second partnership between Ventech and Gilles Babinet, who founded Musiwave, a French mobile entertainment company previously funded by Ventech. Musiwave, co-founded by Ventech, was recently sold to Openwave for $121m. DN Capital's expertise in digital media and strong presence in the UK and US shall be crucial for the international expansion of Eyeka

Proceeds from the investment will enable Eyeka to develop its platform and make key hires. It will also allow for rapid expansion into the European markets. The founding team is made up of Gilles Babinet and Franck Perrier, a seasoned veteran of both the image and advertising industries. Babinet left his position as chairman of Musiwave in January 2006, a fact little-publicized up until lately. Perrier, up until recently the CEO of Roger-Viollet, the photographic archive company, was previously CEO of Corbis France, the digital image agency owned by Bill Gates. Prior to joining Corbis, Franck spent 11 years in advertising at BBDO and Saatchi & Saatchi.

In addition, Yves Languepin joins Eyeka as chief technical officer. For the past six years he has served as the CTO of ChateauOnline and prior to this, founded and managed IVAO, a company that developed innovative photo and video services. IVAO was purchased by France Telecom in 1994, and Yves continued to oversee the launch of large internet portals as technical director for five years.