VC firms invest $1.5m in Greek, US messaging business Pinnatta


mobile phone touch screen pdaGreek venture capital firms Odyssey Venture Partners and PJ Tech Catalyst have backed a $1.5m Series A financing round for interactive multimedia messaging platform Pinnatta.

The company, which is headquartered in California but has development offices in Athens, has now picked up a total of $2.2m thanks to earlier investment from Russia’s i-FREE, China’s Cherubic Ventures and US private investors.

Pinnatta attempts to mix the ease and immediacy of text messages with the personalisation possibilities of greeting cards.

The company plans to release and updated app later this month and launch it on Windows Phone and iPad later this year.

Earlier this year International Venture Partners led a $60m Series B round for picture messaging technology company Snapchat, which was then valued at $800m.

The investment brought Snapchat’s fundraising total to $74m. The company’s app enables iPhone and Android users to send out photos and videos that self-delete within 10 seconds of viewing.

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