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Vopium Receives EUR 4.2 Million Investment from Enex Group

By Anil Sharma May 27, 2008
Vopium A/S has entered into a venture capital financing agreement of EUR 4.2 million from the Luxembourg-based private investment company Enex Group SA.
 
Thanks to this financing, Vopium will shortly be in a position to deliver telephony to Europeans wanting to save money on their international calls.
 
Vopium is a powerful software program for mobile telephones, making it possible to make international calls at prices that are 50-90 percent lower than the prices of major mobile service providers.
 
With Vopium, callers pay Vopium's low international rates plus their normal mobile service provider's local per-minute rate.
 
In addition, it only takes a few moments to download and install Vopium on a mobile phone, either over the internet at Vopium.com or by text message.
 
International calls and texts are then sent via Vopium's gateways and international telecom companies to receivers abroad. Vopium works on more than 500 different mobile handsets supporting Symbian, Windows Mobile, Java and Blackberry.
 
"Vopium has a unique, well-designed and functional product, which holds considerable international potential. The company has already demonstrated that it has what it takes to develop an outstanding product that gives the user easy access to cheap international telephony without having to switch provider or change SIM card. Vopium aims to be the sole long distance provider of its customers. All that's required now is to expand, so many more people can enjoy the benefits of using Vopium," said Christian Eyde Møller, chairman of the board of Vopium, in a statement.
 
"Six months ago we set out to secure the necessary funding for Vopiums growth and now we have succeeded. We are now ready to boost marketing activities in Vopium and quickly launch the company in other European countries and harvest the "economies of scale" benefits. The company's expansion is by no means limited to the European market - on the contrary, there is just as much need for Vopium in Asia and the U.S.," said Møller.
 
"We are delighted with Enex's investment. It enables us to launch Vopium throughout most of Europe, giving Europeans the possibility of saving as much as 90 percent on international mobile calls - and it also enables us to pursue our vision of making international calls free for all Vopium users. During the past year we have tested Vopium in the Scandinavian market, and we are convinced we have a world-class product," stated Tanveer Sharif, Vopium's CEO and co-founder.
 
Tanveer Sharif started Vopium together with partners in 2006 and the beta version of Vopium was launched in May 2007, after less than two years of 
development work. 

Anil Sharma is a contributing editor for IoTevolutionworld. To read more of Anil’s articles, please visit his columnist page.
 
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