Company Logo Tuesday, February 02, 2010

AVVASI INC. COMPLETES $15 MILLION SERIES "B" FUNDING ROUND

WATERLOO, CANADA - FEBRUARY 2, 2010 - Avvasi Inc., a uniquely qualified company focused on enabling the delivery of high quality video in congested mobile networks, announced today that it has completed a $15 million Series "B" financing round with Celtic House Venture Partners, Tech Capital Partners, and the Ontario Emerging Technologies Fund (OETF). The latest round, along with initial funding by Celtic House and Tech Capital Partners, will permit Avvasi to accelerate time to market for a complete solution.

Mobile video represents the fastest growing segment of mobile traffic today. Recent data released by Cisco suggests that video will make up 64% of all mobile traffic by 2012. With this growing demand for bandwidth and the myriad of mobile devices to be supported, mobile network operators need solutions that will ensure that their networks will deliver on the "high bar" of mobile video.

"Growth and demand for video in a mobile environment has greatly exceeded our initial forecasts," said Mate Prgin, President and CEO of Avvasi. "In response, this additional funding will allow us to accelerate our product release schedule to meet the demands of our customers. By expanding our investment syndicate, Avvasi will be able to offer a complete systems-level solution to the market sooner."

Avvasi's solutions allow wireless operators to gain access to meaningful data and analysis that ensures investment and operations improvement decisions are well-qualified and supported. By employing Avvasi's solutions operators can be confident of delivering a high Quality of Experience and ultimately being able to monetize mobile video services.

Avvasi's company's founders were previously part of Waterloo-based PixStream, which was also a Celtic House funded company. PixStream was acquired by Cisco (Nasdaq: CSCO) in 2000. The founders also started VideoLocus, which was backed by Tech Capital. VideoLocus was acquired by LSI Corporation (NYSE: LSI) in 2002.

About Avvasi

Avvasi Inc. is a well funded, uniquely qualified startup focused on enabling mobile carriers to measure, improve and monetize mobile video. Avvasi's team is comprised of world class experts and pioneers in video product technologies with deep wireless carrier experience.

Avvasi Media Contacts

Kathleen Walsh
T: +1.519.772.6902 x224


Mate Prgin
T: +1.519.772.6902 x202


Contact Us

linkback: http://www.avvasi.com/

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