2PM raises additional $3.5m

Wireless technology company, 2PM Technologies has raised an additional $3.5m (€3.1m) worth of funds from existing investor, ICC Venture Capital.

In October 2002, the company secured a funding round of EUR3.2 million and earlier year, raised €760, 000 from Enterprise Ireland, to create 40 new high tech jobs in the Development Zone around Athlone in the Midlands. In December 2001, 2PM received funding of €3.3m. This brings the total amount raised to date by the company to over $10m (€9m).

The company, based in Athlone, developed a breakthrough product, known as Media Interworking Gateway (MiG), which enables phone operators to provide the benefits of new MMS technologies to their end users, without those users having to invest in new phones or pay additional fees.

Founded in 1999, 2PM is a developer and publisher of communication software applications in the mobile/wireless sector. It develops mobile-related technology that helps network operators to increase Average Revenue Per User (ARPU), currently by focusing on services that can be used with the presently installed base of mobile phones in the UK.