The company develops instant messaging platform and applications for wireless operators. Investors include Carmel Ventures, the Star fund, Koor Corporate Venture Capital and Israel Corporation.
Start-up FolloWAP has completed a $10 million first financing round, led by Carmel Ventures ($5.2 million). The Star fund and existing investors also participated in the capital raising round, investing $2.8 million and another $1 million each, respectively. Existing investors include Koor Venture Capital (one of the first investments it made after being founded in early 2000) and the Israel Corporation, each of which invested $1 million at seed.
FolloWAP developed a platform that enables cellular providers to offer location and presence-based mobile instant messaging. The platform can be used in various communications channels, such as voice, I-mode, WAP, SMS and STK. The company’s products operate on existing, GPRS and third-generation infrastructures.
The company has a development center in Tirat HaCarmel and offices in Britain.
Published by Israel's Business Arena on 31 January, 2001