Kansas City Star | 01/24/2006 | Wireless ventures ring up some venture capital

"Venture capitalists have noticed that consumers are using cell phones for much more than making calls.Handmark Inc. of Kansas City was among the wireless technology companies that attracted a flurry of investments in 2005, driving overall venture capital backing for telecommunications firms to a three-year high of $2.1 billion, according to the MoneyTree Survey by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association.�Wireless continues to be the spot in telecom,� Tracy Lefteroff, global managing partner of the venture capital practice at PricewaterhouseCoopers, said Monday during a conference call with reporters.Investments in wireless technology companies were part of 2,939 deals across the country that pumped a total of $21.7 billion into young companies showing the promise for rapid growth. This essentially held steady with $21.6 billion in 2004 investments.Information technology and biotechnology were the top two investment categories, though telecommunications recorded a notable surge.Handmark, which raised $5.1 million last fall, packages information and entertainment software for use on mobiles phones and other portable devices.Wireless technology companies elsewhere that also have raised money include Firefly Mobile Inc., which makes cell phones designed especially for children; GoTV, which provides television shows for mobile phones; and Blue Frog Mobile Inc., which provides ring tones for cell phones."