Mino Wireless Closes First Round Financing For $1.5m; Company Focused On Extremely Low-Cost International Call Service From Mobile Phones18 April 2006
Sunnyvale, CA (PRWEB) April 17, 2006 -- MINO Wireless, a privately held Sunnyvale, CA-based mobile services company, announced that it has completed its Series A round of financing to launch very low-cost phone service from any mobile or landline phone in the world to any phone in the world. Investors include TNP on the Road (Japan/Silicon Valley Fund), Freeze LLC, AWE net, and a few angel investors in Silicon Valley and Asia.
«MINO Wireless has developed new technology which has great potential to revolutionize the global international call market,» said Jing Liu, the CEO and founder of MINO Wireless. «The combination of a new technology, a ready-to-launch service and a large target market gives MINO Wireless a compelling opportunity to build a company.»
Mobile phones are rapidly replacing landline phones for local and domestic nation-wide calling. However when it comes to making international calls from mobile phones, people have not seen the costs come down.
«Our investment is in the technology and its enormous potential; we are convinced that MINO Wireless will emerge as a leader in international wireless calling.» says Katsuhiro Yamashita, CEO of TNP On The Road. TNP On The Road is a premier venture capital fund based in Yokohama, Japan and Silicon Valley USA and invests globally in leading science and technology companies.
The Voice-Over-IP technology has brought down the cost of making calls from landline phones and computers dramatically. However, you have to purchase and install special hardware to take advantage of the lower costs of making international calls using VoIP. If you use calling cards, you have to dial in local access numbers, PIN numbers, and pay many kinds of hidden fees.
«MINO Wireless provides a revolutionary solution that is low cost, easy to use and convenient. Once you download MINO software on your mobile phone, you can make international calls within MINO and talk for only 2 cents per minute,» explained Jing Liu. «With the number of mobile phones worldwide reaching 2 billion, we have a very large market opportunity.»
MINO Wireless was founded in 2004 and has been developing the technology to connect mobile phones to the Voice-Over-IP infrastructure for two years.
About MINO Wireless
MINO Wireless is developing novel technologies which allow mobile phone users worldwide to make international calls at very low rates. The company's revolutionary technology uses the Internet connection on the mobile phone to connect to the Voice-Over-IP infrastructure to reduce the cost of international calls by over 70%. MINO Wireless is headquartered in Sunnyvale, CA. Further information about the company can be found at http://www.minowireless.com.
Source: prweb
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