Iqua Inc., a Finnish mobile communications company, specializing in the design and manufacture of wireless accessories has raised its first round of financing from Finnish venture capital investor, Eqvitec. Initial investment was € 2 Million with possible follow-on investments later.

Iqua develops innovative wireless accessories and develops exclusively designed headsets, handfrees and other wireless devices for the mobile communications market. The company founders came from Nokia, and they have altogether over 100 years of extensive global experience in mobile communications enhancement market. Iqua mission is to create innovative and stylish products that provide the freedom to communicate wirelessly in a unique way.

“Iqua has very quickly become one of the market leaders mobile accessories market and we will use this financing to fund further growth in new markets such as in Asia and Americas. We will also continue to recruit top talent for our product development, design and international operations. We are pleased to welcome Eqvitec to our team while we work to create pioneering technology and products,” says Mr. Juha Reima, CEO of Iqua.

“Iqua has gained a very interesting market position among end users and distributors world wide and has benefited from vast convergence of mobile communication as well as from constantly rising demand for well designed mobile accessories. The market for Bluetooth enabled mobile phones is forecasted to grow from 80 millions today to 470 millions in 2008.  This potential combined with senior management having existing contact network worldwide makes Iqua a unique company and very interesting investment opportunity,” says Senior Partner Juha Mikkola from Eqvitec.

For further information please contact:
Juha Mikkola, Senior Partner, Eqvitec Partners
Tel. +358(0)50 5900 522, email: juha.mikkola(at)eqvitec.com

Jukka Jokinen, Investment Director, Eqvitec Partners
Tel. +358 (0)50 5623 623, email: jukka.jokinen(at)eqvitec.com

Juha Reima, CEO, Iqua Inc.
Tel. +358 (0)50 5414 304, email: juha.reima(at)iqua.com

About Eqvitec Partners Oy
Eqvitec Partners is a leading private and independent venture capital firm in the Nordic countries specializing in technology companies. It currently has four funds with a total capital of approximately EUR 300 million under management. Eqvitec Partners has invested in more than 50 technology companies in all Nordic countries. Eqvitec has 17 employees and has offices in Helsinki and Stockholm. www.eqvitec.com

Iqua - Communicate in style!
Iqua Ltd enhances personal communications with its innovative wireless mobile accessories. Iqua develops exclusively designed headsets and hands free devices for the mobile communications market. The company’s founders came from Nokia, and they have altogether over 100 years of extensive global experience in mobile communication and in the development of wireless accessories for mobile phones and other mobile devices. Iqua combines state-of-the-art enabling technology and modern Finnish design. User comfort, style and ease-of-use are the key factors in Iqua’s product development. Iqua is enjoyable to use and a pleasure to own. www.iqua.com