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af83 opens up its capital to increase its growth

By Marie 16-02-2011

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af83 announced last week to the medias new financing with SFR Développement, Paris Angels Capital and three members of Paris Business Angels. This capital increase will enable the company to support product development, continue R&D investments and strengthen its presence both in France and USA.

By opening its capital to the members of the Parisian private investors’ association, af83 has chosen the best Business Angels network in Europe. Louis Montagne, af83 cofounder (with Stéphane Distinguin) says: “This choice is important for us; beyond financing, we’ve found experts at Paris Business Angels that will know how to help us develop to our full potential.” In addition, our long-time shareholder SFR Développement also increased capital, thus bearing out its confidence in the company.

“Our R&D activity was really intense in 2010 in the fields of real-time, asynchronous frameworks and NoSQL databases management system. This fundraising will allow us to further industrialize those groundbreaking technologies and offer greater expertise to our clients. We’ll unveil several offers during the next months” says Ori Pekelman, CTO.

The fundraising will enable, among other things, the commercialization of UCengine, an Open Source project providing developers with a set of tools to help them build real-time collaboration applications or add real-time features in existing applications. According to Alexandre Eisenchteter, COO, “UCengine has the potential to change the way we’ll design web applications in the future“.

Paris Angels Capital is a Business Angel Investment Company created in 2008. It gathers about fifty shareholders, members of Paris Business Angels organization, and it’s specialized in providing capital for young innovative companies with a strong growth potential. Its investment capacity is €3 million on capital stock.

Paris Business Angels is a 1901 law non-profit organization created in 2004 and gathering over 120 investors. They support companies from the initiating step, help them validate their development strategies and accompany them the whole investment time, providing them with experience and skills. Since 2004 the organization has invested a total amount of €13 million in 100 companies.

SFR Développement is a SFR unit; its purpose is to encourage innovation via a close collaboration with young innovative companies. It supports start-up launch and development by acquiring minority interests and leveraging SFR industrial contribution in several fields (strategy, business/development and experimental). To this day, SFR Développement has taken shares in 20 stakes.

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