Infinity Wireless Ltd. said Thursday it raised 500,000 euros (US$542,424) in a venture round of funding led by Mangrove Capital Partners. Existing investor Boundary Capital Partners also participated. Birmingham, England-based Infinity Wireless develops data recovery solutions for smart devices.
BIRMINGHAM, England, December 17, 2015 /PRNewswire/ —
Data recovery company Infinity Wireless Limited today announced £500,000 in venture round funding, led by Mangrove Capital Partners, an early backer of Skype and Wix with additional funding from existing investors Boundary Capital Partners. As part of the investment, Mangrove Partner David Waroquier will join the board.
The UK based software company, which focuses on the development of data recovery solutions for smart devices, will use the funding to enhance product development and innovation, grow the team and drive expansion of the company’s services on a global scale. With their innovative desktop recovery software and first-to-market mobile apps, Infinity Wireless offers a complete data recovery and restore solution for users.
Currently supporting Apple iOS and Android devices, and with plans to extend this compatibility to Windows Phone devices over the coming months, Infinity Wireless is able to provide support for a significant portion of the smart device market. Users are able to recover and restore their data easily and quickly, without the need to send their device away or pay the traditionally high prices of forensic recovery. The significant growth in the device market that is currently being witnessed means that by 2020 there will be a mixture of 8 billion devices and cloud services that Infinity will be able to provide solutions for, directly to consumers and also through B2B partnerships.
“This is a major milestone for Infinity Wireless and one which gives our product, team and market validation from a major global player,” says Lee Parry, CEO and Founder of Infinity Wireless. “We can now rapidly deploy our recovery solutions to the global smartphone and smart device user base which is currently exceeding 3 Billion.”
David Waroquier, Partner at Mangrove commented, “Every minute in the world, thousands of users lose or delete critical data from their phone, and have no idea how to recover them. Enigma is exactly solving this pain. Since it launched its product, Lee and his team have shown remarkable performance. We like the vision of providing an insurance against data losses with an easy to use and frictionless solution. The smart devices and cloud services market is just gigantic and Enigma is the one multi-platform solution that enables quick and reliable data recovery back into those billions of devices.”
Dr Richard Leaver, Partner in Boundary Capital adds, “We are delighted to welcome Mangrove Capital Partners as a significant investor in Infinity Wireless. Mangrove has deep experience and track record in developing technology-led growth businesses to global success. Boundary Capital looks forward to working with David and his team and the exciting future for Infinity Wireless.”
About Infinity Wireless
Infinity Wireless (https://www.enigma-recovery.com) was founded in 2012 and is focused on providing affordable and accessible smart device data recovery for consumers on a global scale. With a range of desktop software and mobile applications for multiple platforms, Infinity Wireless is committed to continued innovation in the device recovery market and providing full scale solutions for users to recover and restore their data.
About Mangrove Capital Partners
Mangrove Capital Partners (http://www.mangrove.vc) is a leading early stage venture capital firm. Its team chases bold, transformational ideas around the world, with a combined focus on Europe, Israel and Russia. Mangrove works with the region’s top entrepreneurial talent at the earliest stages of innovation, with the aim of being the first institutional investor: the firm has co-created projects and regularly injects funds prior to product launch, often in unproven, unusual or un-favoured technologies. Its team brings rich and diverse experience in industry as well as technology, and its entrepreneur-centric approach ensures founders have the support, encouragement and experience they need to build disruptive, global companies. With $750 million under management, Mangrove has the capacity to support its portfolio through multiple rounds of financing and is the largest shareholder in many of its best performing companies. Founded in 2000, Mangrove has invested in more than 85 companies and was the first investor in Skype, which was acquired by eBay for over €3.1 billion in 2005. More recently, Mangrove listed WIX on the Nasdaq (Nasdaq: WIX). Mangrove has consistently featured among the top performing venture capital funds in the industry and has fuelled the creation of significant long-term value.
About Boundary Capital Partners
Boundary Capital Partners (http://www.boundarycapital.com/) is a hands-on venture capital company providing investment alongside Venturers who are all co-investing experiences executives to help nurture and develop the businesses it invests in.
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SOURCE Infinity Wireless Limited