| Prelude Trust swells m-spatial funding round to £0.9m |
| Written by Business Weekly | |
| Wednesday, 08 March 2006 | |
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Prelude Trust plc has invested a further £337,500 in m-spatial, part of a £0.9 million funding round alongside co-investors Alta Berkley and Delta Partners.
Prelude Trust plc has invested a further £337,500 in m-spatial, part of a £0.9 million funding round alongside co-investors Alta Berkley and Delta Partners. Prelude has invested £2.23 million to date, representing a 31.75 per cent stake in the company. Based in Cambridge and founded in June 2001, m-spatial is emerging as the market leader in ‘mobile local search’. Having already established a strong customer base for its MapWay mapping and routing products which includes the majority of UK Mobile Operators and a growing number in Europe, m-spatial is now rolling out its recently launched Local Search and Discovery Engine (LSDE)™ product. Recent customer announcements include O2 UK for its i-mode service and Orange UK for its Orange World mobile portal. The LSDE addresses the massive market opportunity offered by mobile local search. Already a fast growing element of web searching via PC, mobile local search offers a potentially greater opportunity, given the ability for paying advertisers to target consumers who have a much more imminent intention to purchase from local ‘bricks and mortar’ businesses than when searching via a PC. m-spatial’s LSDE is specifically designed to provide a highly personalised, intuitive and detailed local search experience which is critical to enable consumers to successfully obtain in-depth information about local businesses and amenities using the small screens and keypads of mass market mobile phones.
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