Spanish mobile social network Tooio has raised €1.5 million (US$2 million) from INICAP I FCR, a venture fund run by Spanish private equity firm Mobius Corporate Venture Capital. The round was actually announced by the company in November 2008, but I just came across it today over at moconews.
The social network, based in Madrid, is a place recommendation network similar to Yelp. It uses geotagging to allow users to send and receive recommendations about restaurant, nightclubs and other social meeting places. Tooio will apparently be using the cash to develop an iPhone application, integrate into existing social networks and roll out developer APIs.
Mobius is also an investor in mapping provider deCarta.
