Norwegian Ferd Capital has completed a series B investment of $5m (€3.6m) into Smarterphone.
Smarterphone, formerly Kvaleberg, has created software that enables mobile phone manufacturers to build and sell 3G smart phones at a low cost in high-volume markets.
"We believe that Smarterphone could become the Wal-Mart of mobile handsets," said Bjørn Erik Reinseth, partner of Ferd Capital. "Apple iPhone and Android-based phones have paved the way for smartphones worldwide, however, they require sophisticated hardware and therefore become too expensive for most people in the world. Smarterphone are able to build the advanced features of these high-end phones in low-cost 3G handsets, thereby making every phone smart."
One of the key focus areas of Smarterphone is the concept of the smart mobile phone as a seamless integration of all modern means of communication into one device. "Taking a picture and immediately sharing it on your Facebook wall should be just as easy and natural as making a call or sending a text message," said Egil Kvaleberg, founder and chief executive of Smarterphone. "With our solution, this kind of versatility is affordable for everyone."