Mobeam Raises Additional $1.5M in Series A Funding

Mobeam, Inc., a San Francisco, California-based developer of patented light based communications technology, has raised an additional $1.5m in its Series A funding round (read here).

Backers include new investor DFJ Athena, a Korea-focused venture fund affiliated with Draper Fisher Jurvetson, as well as new funds from existing investor and board chairman Ben DuPont.

The company intends to use the capital to accelerate its business development efforts with major consumer and retail brands for mobile couponing and other broad mobile commerce initiatives.

Mobeam’s patented light based communication technology allows mobile phones to interact with point of sale (POS) technology. It utilizes LED technology already present on the vast majority of handsets to transform barcodes into a beam of light that every laser scanner can read. This technology makes it possible, for the first time, for a phone to present a coupon that can be easily and conveniently scanned and redeemed, without the need for retailers to upgrade their technology.
Founded in 2010 and led by CEO Christopher Sellers, the company recently announced its partnership with Procter & Gamble to bring its fully mobile couponing system to market.

In conjunction with the funding, DFJ Athena’s founder and managing director, Perry Ha, has joined Mobeam’s board of directors.



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