Pylba Inc., a San Mateo, California-based startup that develops services for mobile news, raised $1.7m in funding.
Backers included High-Tech Gruenderfonds (HTGF) and other strategic investors and business angels.
The company intends to use the capital to enhance the product and to bring it to international markets.
Founded in March 2012, Pylba offers a Mobile Media Publishing Platform (M2P2) that enables publishers to deliver their content to mobile users through an app, named Simply. It allows mobile users to get an overview about a large number of current news from a variety of sources. Simply classifies all news into clusters and automatically creates one-page summaries for each article.
The German management team, led by Franz Buchenberger, CEO, and Dr. Stephan Gillmeier, CTO, is currently working along-side the engineering team in the Pylba subsidiary in Munich.
Simply will be launched in Germany in the second quarter of 2013, with other markets to follow.
FinSMEs
28/04/2013