Bordeaux start-up Mobiles Republic raises 2.5 million euros
According to Les Echos, Republic Mobiles, the Bordeaux start-up editor of News Republic app, has just completed its second fundraising, amounting to € 2.5M, from Xange Private Equity and of Creathor Ventures.
News republic provides real-time access to news from major press agencies and media. It broadcasts 10,000 articles every day in real time on all themes: world, eco, politics, sport, technologies, people … It offers local editions in French, English, Italian and Spanish thanks to agreements with more than 120 partners ranging from global press agencies (AFP, Reuters, Associated Press, Press Association, AGI) to local blogs through the major national media.
Initially launched on iPhone and Android, it is now available on Blackberry, Windows Phone 7, Samsung BADA, Nokia Symbian and WebOS. In total, the app has been downloaded over 3M times and is said to have won over 1M regular users, who view an average of 180 pages per month.
Objective of the roundtable: to finance the growth and future technical developments of the company. The funds raised will therefore be mainly allocated to semantic search and targeting technology, developed by the start-up and called TagNav.
Founded in 2008 by Gilles Raymond, Mobiles Republic also publishes two other applications: Biz Report, economic information and Appy Geek, a complete overview of current events for geeks. Mobiles Republic hopes to break even during this year.