Mobile App Platform BiNu Raises $4.3 Million

BiNu, the mobile app platform that brings Web-based apps and social functions to low-cost feature phones, announced Wednesday that the company raised $4.3 million in venture capital. Joining the series A round were investments from 500 Startups and PanAfrican Investment Co., among others, following previous participation from Eric Schmidt’s TomorrowVentures and the Savannah Fund. The company is currently focused on developing its business in emerging markets such as East Africa, South America, parts of Asia and other areas in which citizens access the Internet primarily through a low-end mobile device.