Deals round-up: Finnish wireless firm backed by Morgan Stanley

Iobox.com, a Finnish wireless data service provider, has raised euros 13 million of new equity funding to accelerate its international growth. Morgan Stanley Dean Witter Capital Partners (MSDWCP), the private equity arm of the global investment bank, is providing the majority of the equity and heads a consortium of co-investors.

The company offers wireless portal functionality, including messaging services (e-mail, wireless chat and SMS), personal management (address book and calendar applications), information services based on partner content, and a wireless mCommerce platform (product sales via the mobile telephone). It is also focused on WAP and other emerging technologies.

Iobox earns revenues from a combination of user service fees, and revenue sharing with content providers, vendors and other partners. It currently has 350,000 registered users spread throughout Finland, Sweden, Germany and the UK and is gaining around 1,500 users every day.

Existing investors taking part in the new funding alongside MSDWCP include Alta Berkeley Associates, Eqvitec Partners and SFK Finance. New investors include MSDW Technology Investment Banking Group, BancBoston Capital, Eden Capital, Pino Ventures and Robertson Stephens.