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Issue #2002 - 30 (August 2002)
(Updated Aug. 7, 2002)


VCs Looking for Companies with Real Products for Real People

Wireless vendors expecting to attract the attention of today’s venture capitals will have to prove their offerings are not over-hyped technologies, with the life span of a news clip, but serve the needs of real people and, over time, will generate real profits.

Technologies servicing the enterprise and those geared toward wireless local area networks are

piquing investor interest. The latter is not surprising, according to research firm Alexander Resources who predicts the wireless LAN service market will reach $15-billion by 2007.

Two Wireless Vendors Meeting the Criteria

Eizel Technologies
Last February Eizel Technologies, an enterprise software company based in Pennsylvania, launched IDEAS, a turnkey installation process that eliminates the provisioning and consulting costs of typical enterprise mobilization projects. Since then, the company has secured $4.2-million from investors the likes of industry giant Nokia.

IDEAS enables high-speed delivery of e-mail attachments, images, documents and enterprise applications over 2G, 2.5G and 3G wireless networks and WLANs.

Another wireless vendor who is turning investor heads is Bluesocket. As a developer of wireless LAN solutions, Bluesocket has build a reputation on providing user-friendly products that secure and manage wireless access to corporate networks and the Internet. Recently, the Massachusetts company added $2-million to its second round of $16-million financing.

The additional $2-million from Ascent Venture Partners and Ironside Venture LLC will be used to further expand the company’s domestic and international reseller channel program, advance sales and marketing activities, and facilitate next-generation product development.

To paraphrase Ironside Venture’s managing director, David Alpert, the two things that impressed investors enough to invest in Bluesocket were its approach to solving problems that exist in wireless LAN environments and its scalable solutions that are user-friendly.

For more information: http://www.eizel.com    http://www.bluesocket.com

MobileInfo Advisory & Comments:  Wireless vendors, like Eizel Technologies and Bluesocket, that offer products that meet the needs of the enterprise and the end-user, leverage existing infrastructure, and serve a growing niche market will have a better chance of opening up the wallets of today’s venture capitalists.

Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures.  All trademarks used in this summary are the property of their respective owners.

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