mlab Raises 100M Yen From IVP Fund II /Venture Now

An avatar communication service for smartphone, "baboo" operator, mlab revealed that it raised 100 million from IVP Fund II, which Infinity Ventures LLP manages.

This is the second fundraising from IVP Fund following 100 million yen in this April.

mlab was founded by spin-out of smartphone application division of Blau which focuses operating official sites for feature phones.

mlab launched baboo in this September, which is a chat application for smartphone with "kawaii" or cute characters. ...

Venture Now 11/28/2011 [jp]

memo

• Different from the recent incubators copying Y-Combinator, Infinity Ventures invests relatively large amount in selected seed/early stage startups. It invested 300 million yen in mobile social game developer, One Of Them in this October.