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Thursday, December 22, 2011

Deutsche Telekom invests in Jawbone and becomes partner for European expansion

Jawbone, which recently diversified from its focus on Bluetooth headsets and loudspeakers to produce the UP health-tracking wristband, has just announced it’s received $40 million in new funding. The current round of funding came from Deutsche Telekom, Kleiner Perkins Caufield & Byers, entrepreneur Yuri Milner and investors advised by J.P. Morgan Asset Management. It means the company has now received approaching $210 million from various investors.

Deutsche Telekom will become Jawbone’s key strategic and lead carrier partner for European expansion.

Hosain Rahman, CEO of Jawbone, said “We are experiencing fantastic growth and the worldwide demand for our mobile lifestyle products and services is unprecedented. This new group of investors – with their world-class expertise in mobile, consumer Internet and technology, and international markets – will help us achieve the next level of expansion. We’re thrilled to be launching our products in Europe with Deutsche Telekom. Having the support of Kleiner Perkins Caufield & Byers’ Mary Meeker, who has predicted and helped guide some of the biggest technology trends in history; Bing Gordon, who is a master when it comes to engaging software and services; and Yuri Milner, who is a leading international investor with deep knowledge of building successful global companies, further sets us up for success. Working together, we’ll keep pushing the boundaries to deliver compelling solutions for the mobile lifestyle, on a global scale.”

Author: The Fonecast
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