The News

Sofinnova Partners Invests €2.3 million in Prestige Mobile Innovator - Celsius X VI II

19/01/2010

Mobile technology investment focus combined with novel watch micromechanics

Paris, France – January 19, 2010 – Sofinnova Partners, a leading European venture capital firm, announced today that it has invested €2.2 million in Celsius X VI II, a French-Swiss firm developing unique mobile phones based on high complexity mechanics. Sofinnova’s investment is joined by AGF Private Equity’s €500,000 and a further €600,000 from business angels bringing the total funding to €3.4M. Jean Schmitt, Managing Partner at Sofinnova Partners will also join the Celsius X VI II management board.

“We are thrilled to have the support and experience of Sofinnova Partners as we follow our vision to build the fundamental communications device. Each of our creations will be a significant step towards the dream of a completely mechanical mobile phone, a phone in which every function will operate solely through human energy,” stated Co-Founders and joint-CEOs Romaric Andre and Edouard Meylan of Celsius X VI II.

“Celsius X VI II is managed by a team of enthusiastic, visionary and imaginative founders that have succeeded in surrounding themselves with experienced managers in the fields of luxury, mobile phones and marketing. They have also found early success in convincing best in class suppliers to work with them. We strongly believe that the future of the mobile phone is shifting from technology to a focus on brands, lifestyle. Just as the example of the cheap quartz watches, the classic mobile phone industry focused on mass production will go on, while fascinating handmade pieces will be manufactured for exceptional individuals. This is the customer-base Celsius X VI II wants to serve” said Jean Schmitt, Managing Partner at Sofinnova.

Celsius X VI II will soon be launching its first nonconformist clamshell phone. By exploring the mechanical functions that will revolutionize the world of communications, Celsius X VI II brings together two worlds separated by nearly five centuries of history: Telecommunication and Swiss Watch-making. This first model, developed using high-end manufacturing techniques, conceals inside the hand-finished shell patented mechanisms including an innovative energy gathering system. Based on complex micromechanics, this innovation, termed – “Remontage Papillon” (butterfly rewinding), holds significant potential on the future implications of how mobile phones use the energy they produce.

Sofinnova was an early seed investor in Celsius with this second round going towards finalization of the product as well as production and communication for this Prestige mobile device. 

To learn more about Celsius X VI II, please visit: www.Celsius-X-VI-II.com

About Sofinnova Partners
Sofinnova Partners is an independent venture capital firm based in Paris, France.  For over 35 years, the firm has backed nearly 500 companies at different stages of development – pure creations, spin-offs, as well as turnaround situations – and worked alongside Europe’s key entrepreneurs in the technology, life sciences and cleantech sectors.  With more than €1 billion of funds under management, Sofinnova Partners’ experienced team and hands-on approach in nurturing and supporting portfolio companies through to exit have created market leaders and multiplied revenues, from landmark historical investments including Genentech and Biogen to more recent successes such as Actelion, Vistaprint, CoreValve and Fovea.  With a global mindset, the firm has offices in Shanghai, China and a sister organization in San Francisco, California.