Last updated on September 7th, 2012 at 09:44 am
Mobeam Inc., a San Francisco technology platform for delivering coupons to mobile phones, has beamed a $6.4 million Series A round of venture capital on board from investors, reports the San Francisco Business Times.
The company, founded in April 2010, has added new investor DFJ Athena, a Korea-focused venture fund affiliated with Draper Fisher Jurvetson, and taken more money from existing investor and board chairman Ben DuPont.
DFJ Athena’s founder and managing director, Perry Ha, is joining Mobeam’s board of directors, according to the Times.
Mobeam says its patented technology makes mobile coupons feasible on a mass scale by transforming bar codes on mobile phone screens into a beam of light that existing laser scanners can read. The way mobile handset screens are constructed has precluded recognition of bar codes by laser scanners now used by most retailers, the company says.
The technology also can be used for other types of applications, such as mobile ticketing, Mobeam says.
The latest funding, which added $1.5 million to $4.9 million raised in October, follows an announcement in December that consumer goods giant Procter & Gamble is using Mobeam’s system, the Times reports.