EDB Investments Pte Ltd, a wholly owned subsidiary and the investment arm of the Singapore Economic Development Board, has invested US$1 million in Inmobia, a Copenhagen-based wireless media Company.
Founded in late 1999, Inmobia supplies mobile telephone operators with information and services, enabling them to deliver high-quality content to mobile phone users. Today this is done through SMS messages to GSM mobile phones and through WAP telephones.
In the future it has been suggested that it will be through the UMTS system technology.
Inmobia started as a subsidiary of Egmont Online, the interactive arm of North Europe’s largest media company. A management buyout was completed in late 1999.
Inmobia’s list of customers include big mobile telephone operators in North Europe such as French Telecom, Sonofon and Tele Danmark. Today, Inmobia has 20 employees in Copenhagen and Singapore and is expanding rapidly to other parts of Asia and Europe.
"EDB Investments is keen on many emerging and fast growing businesses, including those in the area of mobile Internet and mobile commerce that Inmobia is focusing on. EDB Investments will work with its investee companies in their globalisation drive and help such companies set up their business in Asia where there is either already a rapidly growing market or a high potential for a market for these emerging businesses," said Paul Choo of EDB who will be joining the board of Inmobia.