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DN Capital invests in the digital media company Eyeka

DN Capital invests in the digital media company Eyeka

13 Mar 2006

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Eyeka Announces Series A Round of $5.0 Million
by Ventech and DN Capital
Company is new venture for leading French entrepreneur, Gilles Babinet

PARIS, France, March 13th, 2006 – Eyeka, a provider of mobile video and image service applications, announced today that it has completed a $5.0 million series A round. Ventech Capital, based in Paris, invested $3.2 million and DN Capital, based in London, provided $1.8 million. This marks the second partnership between Ventech and Gilles Babinet, who founded Musiwave, a French mobile entertainment company previously funded by Ventech. Musiwave, co-founded by Ventech, was recently sold to Openwave (Nasdaq: OPWV) for $121 million. DN Capital’s expertise in digital media and strong presence in the UK and US shall be crucial for the international expansion of Eyeka

Proceeds from the investment will enable Eyeka to develop its platform and make key hires. It will also allow for rapid expansion into the European markets. The founding team is made up of Gilles Babinet and Franck Perrier, a seasoned veteran of both the image and advertising industries. Babinet left his position as Chairman of Musiwave in January 2006, a fact little-publicized up until lately. Perrier, up until recently the CEO of Roger-Viollet, the photographic archive company, was previously CEO of Corbis France, the digital image agency owned by Bill Gates. Prior to joining Corbis, Franck spent 11 years in advertising at BBDO and Saatchi & Saatchi.

In addition, Yves Languepin joins Eyeka as Chief Technical Officer. For the past six years he has served as the CTO of ChateauOnline and prior to this, founded and managed IVAO, a company that developed innovative photo and video services. IVAO was purchased by France Telecom in 1994, and Yves continued to oversee the launch of large Internet portals as technical director for five years.

When asked, Babinet was uncharacteristically circumspect about the company’s mission. “We are still in stealth mode,” he said. “But I can tell you that we will help consumers to manage, optimize and value the photos and video they generate from their camera phones, as the company’s business will be very much tied to the mobile operators.” The eventual success of Musiwave was built on similar close relations with mobile operators.

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