Prelude Trust swells m-spatial funding round to £0.9m
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.