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Tuesday, December 19, 2006

5.4 Million Dollar for Mobile Photo Solution!!!!!!!

PixSense Secures $5.4 Million in Series A Funding for Mobile Photo and Video Management Solution
ATA Ventures and Innovacom Are Lead Investors

Sanat Clara, CA, Dec. 18. 2006, BUSINESS WIRE. PixSense announced today that it has secured $5.4 million in equity funding, led by ATA Ventures and Innovacom. PixSense will use the funding to accelerate product development, service deployments, and increasing partnerships with mobile carriers worldwide.

PixSense’s patent-pending solution enables users to easily manage the media they create on their mobile phones, directly from the handset. Nearly 80% of mobile phones shipped in 2005 are equipped with digital cameras and one of the biggest problems camera phone owners face is utilizing their photos and videos. PixSense facilitates and simplifies the process of managing photos, videos, audio, blogs, and text from the mobile device. PixSense will be launching this solution with mobile carriers in early 2007.

The addressable market size for the PixSense solution is large. According to the Photo Marketing Association Intl, 79 billion camera-phone photos were taken in 2005, with a projected increase to 227 billion photos per year by 2009. Despite this, approximately 95% of mobile user-generated content stays on the handset until it gets deleted. PixSense solves the problem of managing, publishing, and sharing this content, for all mobile subscribers, including users who do not have a PC.

“PixSense is a pioneer in the digital media industry and possesses unique and innovative technology that has the power to change the way people use their mobile phones,” said Mike Hodges of ATA Ventures. “Our investment in PixSense underscores our confidence in their product offering, management team, and growth potential.”

“We’re very excited about PixSense because it solves a true infrastructure problem for operators to manage and appropriately monetize mobile media,” said Aymerik Renard of Innovacom. “We believe PixSense has the potential to become a very successful digital media software company addressing a very large market.”