User-friendly security solution for mobile services attracts venture capitalists

User-friendly security solution for mobile services attracts venture capitalists Successful financing round for Blueice Research - Startupfactory and Gilde invest a total of 2.5 Million Euro -Stockholm 21 Aug. 2001. Data security company Blueice Research has completed a financing round, giving the company a substantial contribution of funds. VC firm Startupfactory, partly owned by Investor, is one of the companies participating in the round. In total, Blueice Research has received 2.5 Million Euro. In addition to Startupfactory, one of Europe's largest venture capitalists, Dutch investment company Gilde, is also participating in the financing. With this investment, Gilde extends its investment made in the previous round. - There is huge potential for security solutions for online banking when one even considers the extent to which Nordic consumers are accustomed to using online banking services. We are convinced that Blueice Research, with the very strong team they have on board, is in an excellent position to become one of the big players in this market, says Hans Glemstedt, Partner at Startupfactory. - The fact that Startupfactory now joins us and that Gilde has increased its investment is a further proof that our product and market strategies are correct. Startupfactory represents competence and industrial know- how, an extensive international network, particularly in the telecom sector, and will take an active roll in helping us to achieve our goals. Gilde has a comprehensive international network that will be supportive with future expansion in the European and global marketplace. Banks and other financial institutions wish to roll out their services on the mobile Internet but so far they have not been able to solve the security issues. Our product, the Multipass, is one of few solutions available on the market today and there is a great demand for this type of solution, says Thomas Holmström, CEO of Blueice Research. Blueice Research develops security solutions for all types of situations demanding digital identification, signatures and receipts. The banking and financial sectors are currently the primary targets for these solutions. Blueice Research's product, the Multipass, allows users of mobile phones and handheld computers to very easily conduct secure transactions on the mobile Internet. The Multipass is used to confirm the identity of the user and to create digital signatures that cannot be later repudiated by any of the involved parties. The Multipass runs on the most common operating systems that are used on handheld computers today, namely the Palm OS, Pocket PC, EPOC and Win32. Blueice Research's partners include Nexus, Entra, TAJT and Infovention. The company has succeeded in hand-picking a strong team of security experts from SmartTrust/iD2, Parallel Consulting Group/Icon Medialab, RSA Security and others. For more information: Thomas Holmström, CEO, Blueice Research AB, Tel: +46 8-545 51 880, Mb: +46 709-27 83 20 Pelle Made, Information Manager Blueice Research AB, Tel: +46 8-545 51 880, Mb: +46 709-27 83 25 Hans Glemstedt, Partner, Startupfactory AB, Mb +46 708-44 59 48 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: