One of my favorite startups Kyte just announced it has raised $15 million in a second round of funding. The round was led by Telefónica, the world’s fourth largest global telecommunications firm, with Nokia Growth Partners, the global private equity and venture capital management arm of Nokia, and DoCoMo Capital, Inc., a wholly owned U.S. subsidiary of NTT DoCoMo, Inc., the leading mobile communication company based in Japan, also participating. Other investors in this round include Swisscom, Holtzbrinck Ventures and Draper Fisher Jurveston.
The interesting news for me is not the $15M, which seems rather small for a Series B in this area but the distribution channel opportunities Kyte.tv opens through this deal, as Robert Scoble mentioned earlier:
“Telefónica has 230 million users. DoCoMo has 52 million. Nokia has 39% of the cell phone market share. If the Kyte player is embedded on these three it brings a HUGE audience to Kyte.”
If you haven’t tried Kyte Mobile, it’s definately worthwhile you start doing so. It’s one of the only apps I know with such a cool user experience, integrating live audio and video chat interaction with other social media. Congrats to Daniel and the Kyte team!
Really looking forward how Kyte will develop the coming months and launch new features.
Innovation Strategist - Enabling Mobile Value Added Products & Services
- Announcing shift 2020 – How Technology Will Impact Our Future
- The Next Web Guest Post on How Mobile Technology is Transforming Africa
- How Mobile Technology is Transforming Africa
- How Mobile Transforms Any Business (Slides & Video)
- Mobile Opportunities in Africa – Engaging the next Billion
- Time for an app?
- Mobile World Congress 2013 Networking Events & Parties
- African Innovation Communication Agency Nyota Media Launches
- Moved to London
- Mobile Premier Awards Final Program!