Press Releases

ENTERPRISE VENTURES INVEST IN NEXT DEVICE LIMITED

16 February 2005

 

The RisingStars Growth Fund, which is managed by Enterprise Ventures, has completed an investment in Next Device Limited.

Next Device is the leading provider of advanced user interface technology and design for mobile devices. The company exploits its unique Next Device Engine technology (NDE) to deliver rich 3D user experiences that are designed to drive up operator revenues, enhance usability and enable massive brand differentiation for device manufacturers.

CEO Ben Hookway said "We are very excited that Enterprise Ventures have made this commitment to Next Device. They have already shown themselves to be an excellent partner that has added significant value to our team.  This investment will greatly enhance our ability to support more customers, and it will prove to be the platform for the accelerated adoption of Next Device technology across the industry".

Geoff Kendall, CTO of Next Device, commented "User experience has become a key issue in the mobile industry among operators, manufacturers and content providers, all of whom are striving to deliver their value in ways that are compelling for end users.  Next Device's mobile interfaces are unique in two respects.  Firstly, we employ world-leading dynamic 3D graphics to engage users, and then we sustain their attention by providing the most effective way to navigate the features and services on offer.  All participants in the mobile value chain stand to gain from the benefits that our continuing innovation delivers."

Mark Wyatt, EV Investment Manager for the investment, pictured left, said "We have been impressed by the way that the Next Device management team has approached both the technical and commercial challenges in this growth area, and are pleased to be supporting them in bringing this exciting technology to the global market".

The RisingStars Growth Fund provides early stage risk finance to high growth technology companies, at the seed or start-up phase, and will also invest at the 'proof of concept' stage. Companies must demonstrate excellent commercial prospects, and are likely to receive the funding in stages against development milestones. In addition to finance, the Fund offers considerable support and guidance in assisting companies with their strategic, technical and market development.

Notes to Editors

For more information on Next Device Limited and their products, contact CEO Ben Hookway at info@nextdevice.com or visit the company's website at www.nextdevice.com.

For further information on the RisingStars Growth Fund, please contact Colin Willis or the Technology Investment Team (Edward French, Julian Viggars and Mark Wyatt) at Enterprise Ventures on 01772 270570.