Mobango Ltdthe UK-based mobile social network, closed its second institutional equity round of $5.7 million. The financing was lead by Italian fund Innogest Capital, managed by Innogest SGR, specialized in seed and early-stage investments in high-growth companies. Doughty Hanson Technology Ventures, already an investor in Mobango, also contributed to the round.
Mobango will use the new funds to further accelerate product development, strengthen its service infrastructure, and increase penetration in key markets. In connection with the new financing round, Gianluca Dettori, founder and ex CEO of Vitaminic, one of Europe’s leading digital music distribution companies (merged with Buongiorno SpA) joined Mobango’s Board of Directors.
Originally posted on March 29, 2008 @ 9:45 pm