Rightware raises €4m from three venture capital firms


finland flag_sqUser interface software company Rightware has raised €4m in Series B funding from existing backers Inventure and Nexit Ventures and new investor Finnish Industry Investment.

The Espoo-headquartered company will use the money to expand global sales and fund the development of its Kanzi UI Solution, which it said is gaining traction in the automotive and consumer electronics sectors in Europe, the US and Asia.

Kanzi UI is currently used by high profile clients such as Audi, Visteon, e.solutions and Freescale.

Rightware saw revenues at its user interface business more than double in the first quarter compared with the same period of 2012. The company said it expects the growth to accelerate towards the end of the year.

Finnish Industry Investment’s director Jussi Hattula said, “Rightware leads the embedded UI industry with its innovative technology and market penetration.

“The company promotes next-generation applications where integrated 2D & 3D graphics deliver better and faster user experiences.

“We are excited to be part of this round and to work with the company to fulfil its vision.”

Finnish Industry Investment is a state-backed investment firm headquartered in Helsinki. Since its launch in 1995 the firm has invested more than €1bn and has been committing €100m per annum on average over the recent years.

It has recently participated in a €6m Series A round for Finnish enterprise content management developer M-Files Corporation.

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