Canaan Partners Invests $7M in MINO Wireless

Mobile VoIP Company specializing in International Calling raises next round of funding

MENLO PARK, Calif., — February 14, 2007 — MINO Wireless, a Sunnyvale, CA-based company that provides voice-over-IP solutions for mobile and wireless communication, today announced it has received $7M in funding from the venture capital firm Canaan Partners. MINO’s technology makes international calling from mobile phones easy, convenient, and affordable by routing calls via existing internet connections found on mobile phones.

According to Jing Liu, Founder and CEO of MINO, “The mobile VoIP space is being defined right now for consumers and enterprise users and consumers associated VoIP with Internet phones for a period of time, but wireless VoIP is becoming mainstream very quickly.”

Today’s Voice-Over-IP technology has dramatically decreased the cost of making calls from landline phones and computers. However, with these desktop solutions, subscribers must purchase and install special hardware to take advantage of the lower costs of making international calls using VoIP. With calling cards, you have to dial local access numbers, remember PIN numbers, and pay many kinds of hidden fees. MINO streamlines the calling process while utilizing VoIP technologies, allowing subscribers to dial directly from their mobile phones for an intuitive and easy-to-use experience.

“Canaan believes in working intimately with emerging technology entrepreneurs to enable them to build and expand their businesses,” said Maha Ibrahim, General Partner at Canaan Partners. “The mobile and wireless industry in particular, has enormous potential in the near future and our investment in MINO will help them succeed in the consumer and enterprise markets.”

Canaan Partners has a broad portfolio of investments in mobile and wireless companies including Aperto Networks, Blue Frog Mobile, Dexterra, and Mobilitec, a company that was recently acquired by Lucent Technologies.

About MINO Wireless

MINO Wireless is the first company to launch VoIP on mobile devices. MINO is a software service compatible with most mobile devices that allows mobile phone users worldwide to make international calls at very low rates. The company’s revolutionary technology uses the Internet connection on the mobile phone to connect to the Voice-Over-IP infrastructure to reduce the cost of international calls by over 70%. MINO Wireless is headquartered in Sunnyvale, CA and is funded by private investors in the US and Asia. Further information about the company can be found at www.minowireless.com

About Canaan Partners

Canaan Partners is an early stage venture investor. The firm catalyzes the development of innovative technology and healthcare companies to build next-generation market leaders. Founded in 1987, Canaan Partners has $2.4 billion capital under management and has invested in 232 companies, completed 60 mergers and acquisitions, and brought over 50 companies public. Canaan invests in Internet and consumer technology, communications, semiconductor and energy, enterprise software and services, biotechnology, and medtech. Canaan was an early investor in DoubleClick (DCLK), CommerceOne (CMRC), Copper Mountain Networks (CMTN), Immunicon (IMMC), ONI Systems (ONIS), Dexcom (DXCM) and Combinatorx (CRXX), along with dozens of other market-leading companies. Canaan has offices in Menlo Park, California; Rowayton, Connecticut; Herzliya Pituach, Israel; and Gurgaon, India. For more information visit: www.canaan.com.

Media Contacts

Richard L. Tso
New Venture Communications
(650) 343-2735
rtso@newventurecom.com