T-Venture, the corporate venturing unit of Germany-based phone operator Deutsche Telekom, has joined a consortium investing "several million Euro" in Netbiscuits, a mobile web services developer.
T-Venture has joined Creathor Venture, a local venture capital firm and Netbiscuits’ first institutional backer, in the consortium providing the money to help the portfolio company expand into the US.
Netbiscuits has been profitable since 2002 and in 2006 conducted a growth investment with Creathor.
Netbiscuits enables its customers to develop, publish and monetize cross-platform mobile websites and applications and its customers include eBay, Axel Springer Group, Time, Universal Music Group, MTV Networks, Home Shopping Network, Sears Holdings, RTL Television, Spiegel Online as well as SapientNitro, Publicis, Razorfish and Ogilvy.
Thomas Kiessling, chief products and innovation officer at Deutsche Telekom, said: "Mobile internet is a very important growth field of Deutsche Telekom and the investment in one of the worldwide leading mobile development and publishing platforms will enhance the power of innovation both for Deutsche Telekom and for Netbiscuits."