The Dutch/Swedish initiative, SatCap, an Internet B2B satellite bandwidth and communications exchange, today announces t

The Dutch/Swedish initiative, SatCap, an Internet B2B satellite bandwidth and communications exchange, today announces the closing of its first round of financing "In a time when general market conditions for funding of new e-businesses are rather difficult, SatCap's funding clearly proofs the strength of its business concept and the people behind", says the company's CEO, Mr Dagobert Weeda. "We are very excited over this investment and we are convinced that the people behind this initiative are a real dream team with a high level of pan- international network in the satellite industry!", says Internet Venture Scandinavia's CEO, Mr Klaus Andersen, who will now join SatCap's Board. The $3 million VC-funding package is provided by Broadband Capital AG (Zürich) and Internet Ventures Scandinavia A/S (Copenhagen). These VC-firms are specialised within Internet B2B and telecommunications investments and will now strengthen SatCap's international business network even more. People behind the companies Swe-Dish Wahlberg & Selin AB and Boxplant Group AB founded SatCap in January 2000 together with Mr Dagobert Weeda. Soon after, strategic people behind IEC in Sports and Kamera Interactive joined the team. The whole international team behind SatCap now involves people from the UK, The Netherlands, USA, Switzerland, Danmark and Sweden. SatCap will be offering an Internet based B2B exchange and auction service for satellite bandwidth contracts, mobile up-link vehicle contracts, and related services. Revenues will be commission based on the deals traded through the company's Internet trading floor. Internet bandwidth services via satellite are increasing rapidly and in 2007, the market will be worth more than $30 million. SatCap anticipates to save its industry clients, i.e. satellite operators, ISPs, telcos, broadcasters etc, approximately 10-15% in their present costs for trading, sales and bookings of satellite bandwidth and related services. SatCap is relocating its head office from Stockholm to Amsterdam and the fully pan-international team will focus to leverage the business throughout Europe. Business operations will soon be launched in both North America and Asia. For more information, please contact: Mr Dagobert Weeda (CEO, SatCap) Phone: +31 621 833 875; Email: dagobert.weeda@satcap.com Mr Klaus Andersen (CEO, Internet Ventures Scandinavia A/S) Phone: +45 7022 0228; Email: kha@internetventures.dk ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/31/20000831BIT00650/bit0001.doc http://www.bit.se/bitonline/2000/08/31/20000831BIT00650/bit0002.pdf

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