Mobile Sorcery receives SEK 1.5 million from STING Capital

Mobile Sorcery’s MoSync promises to make applications and services for mobile phones cheaper, easier and quicker.

“This investment means we can continue developing the MoSync range and finalize a product for the market. Thanks to STING Capital we can now work towards our planned product launch in 2007,” says Mobile Sorcery CEO and co-founder Tomas Uppgård.

“Mobile Sorcery is an extremely exciting company led by a competent team of entrepreneurs from the IT and mobile technology industries. MoSync solves a genuine problem facing the mobile communications industry, giving the company considerable scope for international growth,” says STING Capital’s CEO, Pär Hedberg.

For more information 
Pär Hedberg,  STING Capital CEO +46 (0) 708 55 03 18, par.hedberg@stockholminnovation.com, http://www.stingcapital.com/en

Tomas Uppgård, Mobile Sorcery CEO,   +46 (0) 709 20 10 20, tomas.uppgard@mobilesorcery.com, http://www.mobilesorcery.com/

STING Capital is one of the few venture capital funds in Sweden that invests in companies at the earliest stages of development – before a finished product or paying customers exist. We are often the first external investor to offer business ideas or concepts financial support, and can invest up to SEK 4 million per business. By 2012 STING Capital aims to invest in some 10 high-tech companies a year.
www.stingcapital.com/en

STING (Stockholm Innovation & Growth) helps innovators and entrepreneurs build hitech export businesses of the future. With expert advice from experienced business professionals, STING provides a unique service designed to create success. http://www.stockholminnovation.com/en