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MySQL founders invest in Swedish mobile tech startup Mobile Sorcery

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Many entrepreneurs who muzzle through a successful exit use some of the proceeds to become an angel investor and help other startups get, well, started.

And that’s not exclusively a Silicon Valley thing.

Stockholm, Sweden-based Mobile Sorcery has just raised an early-stage investment round amounting up to 1.5 million Swedish Kronor (approximately €145k or $206k USD), for the most part coming from MySQL founders David Axmark and Michael Widenius. Update: the company let us know the reports about the amount of funding are wrong. Although they won’t disclose a number, they informed TechCrunch that the financing round was actually much larger than 1.5 million Swedish Kronor.

You may remember MySQL was acquired by Sun Microsystems back in January 2008 for approximately $1 billion after raising only $39 million in venture capital. It’s safe to say both co-founders walked away with enough cash to use some of it for angel investment in promising companies.

This was actually Mobile Sorcery’s second seed round; it had earlier raised money from STING (Stockholm Innovation and Growth) Capital private equity fund, which also participated in this round. Mobile Sorcery CEO Tomas Uppgård tells ArcticStartup that it exercised a lot of patience before finding someone to fund the startup, but will likely continue to seek follow-up investment in the near future.

Mobile Sorcery, founded in late 2004, specializes in cross-platform development technology for mobile applications, which is obviously not the worst market to operate in these days. Its flagship product is MoSync 2.0, an SDK that enables developers to transforms C / C++ code to mobile platforms such as Java, Symbian and Windows Mobile environments. The fledgling companies plans to open-source the platform later this year, and support for the Android and iPhone platform is said to be underway as well.

  • http://www.carticipate.com Steffen Frost

    Interesting, TC also covered another company called Appcelerator in this space:

    http://www.techcrunch.com/2008/12/09/appcelerator-raises-41-million-for-open-source-ria-platform/

    The now have Titanium Mobile for the iPhone and Android already.

    Will be interesting how the third party SDK landscape evolves, especially for mobile.

  • http://www.mobilesorcery.com Henrik von Schoultz

    Hi

    Just want to inform you that the total sum of the investment was much higher.
    We are now well funded to take MoSync to the next step

    Kind Regards
    Henrik von Schoultz
    Co founder Mobile Sorcery

  • http://woodmarvels.com Jon

    I hope the investors get a nice exit out of this investment as well!

    Jon @ WoodMarvels.com

  • MyLocator ®

    mobile apps are not exciting as they used to be. it will be difficult for developers to gain traction in a flooded market. competing against 60,000 apps for iphone alone, 99.9% are already collecting dust. why not focus on creating one master hybrid internet-mobile natural language location based business app and win the game? there’s still time for that.

  • http://www.dsr4.nl r4 kaarten

    Hi all…
    I am playing games on pc and i like to know more about mobile…
    I like this article because it’s provide lot’s of fun and knowledge…

  • http://pulse2.com/2009/09/07/mysql-founders-david-axmark-and-michael-widenius-invest-in-mobile-sorcery/ MySQL Founders David Axmark and Michael Widenius Invest In Mobile Sorcery

    […] founders David Axmark and Michael Widenius have made a major seed investment in Mobile Sorcery.  The funding was over 1.5 million Swedish Kronor […]

  • http://www.cciash.com/mysql-founders-david-axmark-and-michael-widenius-invest-in-mobile-sorcery/ The Ashes » Blog Archive » MySQL Founders David Axmark and Michael Widenius Invest In Mobile Sorcery

    […] founders David Axmark and Michael Widenius have made a major seed investment in Mobile Sorcery.  The funding was over 1.5 million Swedish Kronor […]

  • http://nextupinnovation.wordpress.com/2009/09/02/mysql-founders-invest-in-swedish-mobile-tech-startup-mobile-sorcery/ MySQL founders invest in Swedish mobile tech startup Mobile Sorcery « NeXtUp Innovation

    […] in Swedish mobile tech startup Mobile Sorcery By nextupinnovation Mobile Sorcery has just raised an early-stage investment round amounting up to 1.5 million Swedish Kronor (approximately €145k or $206k USD), for the most part coming from MySQL founders David Axmark and […]

  • http://www.fembattle.com/ catfight video

    SO how well it the investment put to use? any great achievements?

  • http://www.makenoise.co.za/ex-mysql-nokia-execs-close-60-m-fund-for-europe-focused-vc-firm-open-ocean/ Ex-MySQL, Nokia Execs Close $60 M Fund For Europe-Focused VC Firm Open Ocean | MakeNoise : MakeNoise

    […] MySQL founders invest in Swedish mobile tech startup Mobile Sorcery (Sept 2009) […]

  • http://ba2d.com/techno-ex-mysql-nokia-execs-close-60-m-fund-for-europe-focused-vc-firm-open-ocean Ex-MySQL, Nokia Execs Close $60 M Fund For Europe-Focused VC Firm Open Ocean | User Manual Guide

    […] MySQL founders invest in Swedish mobile tech startup Mobile Sorcery (Sept 2009) […]

  • http://crazyarticles.tk/index.php/2011/05/25/ex-mysql-nokia-execs-close-60-m-fund-for-europe-focused-vc-firm-open-ocean/ Crazy Articles Directory » Ex-MySQL, Nokia Execs Close $60 M Fund For Europe-Focused VC Firm Open Ocean

    […] MySQL founders invest in Swedish Mobile tech startup Mobile Sorcery (Sept 2009) […]

  • http://www.tech2up.com/tech/?p=90913 Ex-MySQL, Nokia Execs Close $60 M Fund For Europe-Focused VC Firm Open Ocean | Tech 2 Up

    […] MySQL founders invest in Swedish mobile tech startup Mobile Sorcery (Sept 2009) […]

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