Airborne Mobile Closes $2 Million Growth Financing Round
iNovia Capital’s Funding Allows Company To Maintain its Expansion and Launch New Product Offerings
MONTREAL, QC – January 12, 2009 — Garner Bornstein, CEO of Airborne Mobile Inc., a long-time innovator and leader in the mobile media industry, today announced the closing of a $2 million growth financing round with iNovia Capital. The injection of capital will be used to finance Airborne’s new initiatives in mobile media and other business opportunities.
A 10-year pioneer in the mobile content industry, firmly-entrenched in partnerships with every major North American wireless carrier as well as with high-profile consumer brands like Fox’s Family Guy and Food Network, Airborne is enjoying a renaissance despite the current economic environment. Only six months ago, the company initiated a management buy-out, taking back control from its previous majority shareholder, Japan’s Cybird Co. Ltd., and subsequently changed its name from Airborne Entertainment to Airborne Mobile to better reflect the wider scope of its operations and the planned expansion of its reach.
“This is indeed a vote of confidence in our business and our management team,” said Bornstein. “After a summer of restructuring and refocusing, we have just completed the most profitable quarter in the company’s history. We appreciate the faith and insight of the iNovia Capital team, and look forward to creating a ‘New Airborne’; one that optimizes the heritage and goodwill of the past while maximizing the opportunities of the present and future.”
“I’ve actively witnessed what two amazing entrepreneurs can do with the right resources in hand,” said Chris Arsenault, iNovia Capital’s Managing Partner & COO, who becomes the newest member of Airborne’s board of directors. “Garner Bornstein and Andy Nulman founded Airborne and managed its amazing growth, from inception to its sale to Cybird. I’m pleased to once again be instrumental in, and actively part of, the re-launch of a mobile powerhouse.”
In addition to the ongoing operation of its legacy business, three of Airborne Mobile’s new product initiatives for the first half of ’09 include an application for home buyers and real estate agents, an interactive cable TV network and a privacy application that enables users to carry out mobile phone conversations without giving out their phone numbers.
The company and its two founding partners will be profiled on CBC Newsworld on January 24 and 25.
About Airborne Mobile Inc.
For over a decade, Airborne Mobile has blazed a distinctive trail, helping to pioneer, build and establish the burgeoning mobile media space by conceiving, creating and distributing best-of-breed mobile programs. Whether it’s messaging, graphics, video, ringtones, ringback tones, full-track downloads or supporting websites, the company is driven by market objectives and product originality, and infuses the appropriate technology to ensure their delivery. Ever since its debut, Airborne has been renowned as the “go-to” mobile company by well-known consumer brands like Family Guy™, Maxim™, NHL™, SPEED TV™, Food Network™, Taco Bell™ and Marc Ecko Enterprises™ to reach the palms and pockets of their customers; by major wireless carriers for innovative products, merchandising and help with new initiative launches; and by promotional partners like ad agencies and retailers to deliver their messages via a most unique media channel. Airborne’s distribution network is vast, partnering with every major wireless carrier in North America, as well as being well-established in the world of off-deck distribution. Airborne can further be explored by visiting www.airbornemobile.com.
About iNovia Capital
iNovia Capital manages seed and early stage venture capital funds, with a focus on helping entrepreneurs and innovators build successful companies in the sectors of information technology, life sciences and cleantech. iNovia Capital’s value-added approach to early stage investing provides portfolio companies with capital, unique access to intellectual property from its partner academic institutions and an extensive network of industry partners, advisors and sector-specific co-investors. For more information see www.inoviacapital.com.
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Shevaughn Battle, Airborne Mobile Inc.
3575 St. Laurent Boulevard, Suite 750
Montréal, QC, H2X 2T7
514-289-9111 x 372
Angela Hibbs, iNovia Capital Inc.
1155 René-Lévesque Boulevard West, Suite 2701
Montréal, QC, H3B 2K8