Last week, voice SMS company Bubble Motion raised $6 million in venture capital funding from Palomar Ventures, Sequoia Capital and Comcast Interactive Capital. The company’s product Bubble Talk powers the Voice SMS services for Bharti Airtel in India and Vodafone in Egypt, apart from Turkish telco Turkcell, Malaysia’s Digi, Indonesia’s Indosat, AIS in Thailand and CSL in Hong Kong.
This is its third round of funding: the first was held in September 2006 when Sequoia Capital and its Indian arm Sequoia Capital India invested $10 million and the second in March 2008, when the company raised $14 million from Sequoia, Comcast Interactive Capital and NCD Investors. Bubble Motion has an office in New Delhi.
For Strategic Acquisitions?
The previous round of funding was used to sign new partnership deals with operators across the world, according to Moconews. The latest one will fund the company’s plans for “strategic acquisitions and research and development” this year, the company president and CEO Tom Clayton said. Al Snyder, telecom firm Aepona‘s CEO, and Amanda Reed of Palomar will join the company’s board of directors.
What kind of a company do you think Voice SMS platform provider like Bubble Motion will acquire?
Voice SMS & Competition
Bubble Motion’s rivals are VAS providers such as New-Jersey headquartered Kirusa and Bangalore-headquartered OnMobile, which also claims to have a voice SMS, but there are no details of deployment on OnMobile’s website. Kirusa’s voice SMS product is particularly popular amongst Indian operators – Vodafone Essar, Loop, Tata Indicom, MTNL and Idea Cellular, though Bubble Motion can take heart from the launch of new telcos, which will be potential clients. Kirusa has raised $13.3 million so far from Qualcomm, Erasmic, Eastven Partners, Helion Ventures and Nexus India Capital.