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Sofinnova invests EUR2.2m in mobile phone developer

Sofinnova Partners, a European venture capital firm, has invested EUR2.2m in Celsius X VI II, a French-Swiss firm developing mobile phones based on complex mechanics.

Sofinnova’s investment is joined by AGF Private Equity’s EUR500,000 and a further EUR600,000 from business angels bringing the total funding to EUR3.3m.

Jean Schmitt, managing partner at Sofinnova Partners, will join the Celsius X VI II management board.

“We are thrilled to have the support and experience of Sofinnova Partners as we follow our vision to build the fundamental communications device. Each of our creations will be a significant step towards the dream of a completely mechanical mobile phone, a phone in which every function will operate solely through human energy,” said co-founders and joint-chief executives Romaric Andre and Edouard Meylan of Celsius X VI II.

Jean Schmitt, managing partner at Sofinnova, adds: “Celsius X VI II is managed by a team of enthusiastic, visionary and imaginative founders that have succeeded in surrounding themselves with experienced managers in the fields of luxury, mobile phones and marketing. They have also found early success in convincing best in class suppliers to work with them. We strongly believe that the future of the mobile phone is shifting from technology to focus on brands and lifestyle. As with the example of the cheap quartz watches, sales of the classic mobile phone industry focused on mass production will stagnate, while fascinating pieces of art will be manufactured for exceptional individuals. This is the customer-base Celsius X VI II wants to serve as market leader.”

Celsius X VI II will soon be launching its first nonconformist clamshell phone. It conceals inside the hand-finished shell patented mechanisms including an energy gathering system.

Sofinnova Partners was an early seed investor in Celsius X VI II and is lead investor in this second round of financing. The funds will be applied towards the finalization of the product as well as production and communication for the mobile device.

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