Macheen Inc., an Austin, Texas-based provider of mobile cloud application service for connected devices, has received a strategic investment from Qualcomm Incorporated.
The amount of the investment was not disclosed.
Qualcomm is a leader in 3G, 4G, and next-generation wireless technologies, invests in emerging technologies and business models that accelerate and expand the wireless market. Current investors in the company include North Bridge Venture Capital, Mercury Fund (a partner in the DFJ Global Network of venture funds), and GemVentures, Tom Meredith, Mike Maples Sr. and Yechiam Yemini.
Led by Richard Schwartz, President and CEO, Glenda Akers, Vice President of Products, James Trotter, Vice President of Sales and Business Development, and Jayne Walters, Chief Financial Officer, Macheen is a global application service provider for connected devices and services. It offers a comprehensive white label solution for major OEMs, global resellers and application providers to roll out branded service included devices and offers. Its cloud-based platform enables innovative mobile business models and connected service offerings that can be tailored to individual device and market segments.
Customers include Dell and Lenovo. Its services are live in 11 countries, spanning both Europe and the United States.
Macheen operates wholly owned subsidiaries Macheen GmbH and Macheen Ltd.
Commenting on the deal, Schwartz said: “We are pleased to include Qualcomm as a strategic investor in Macheen. Qualcomm’s participation enables Macheen to further grow our industry footprint by aligning upstream in the value chain. This can accelerate mainstream global adoption of connected devices and services”.
FinSMEs
30/11/2012