Spanish Mobile Social Net Tooio Raises €1.5 Million VC Funding
This passed us by when it was announced on the company’s blog in November, but Spanish mobile social network Tooio will be starting 2009 in good spirits after raising €1.5 million ($2 million) of investment from VC vehicle INICAP I FCR, run by Spanish PE management firm Mobius Corporate Venture Capital. Founded last April, The Madrid-based company uses geo-tagging technology to allow users to send and receive recommendations for services like shops and restaurants and neatly sums up the site as: “amigos + móvil + mapas”. The company plans to use the money to develop an iPhone app, developer APIs and integration with existing soc nets. Mobius has history of investing in location-based businesses and is one of several backers of San Jose-based location technology provider deCarta. Release.
Posted In: Money, M&A & Venture Capital, Venture Capital, Social Media, Countries, Europe, inicap i fcr, tooio
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