Date: Saturday , March 31, 2007
RingCube Technologies, Inc., has secured $12 million in Series B funding. Shan Appajodu, CEO and Founder of RingCube said the computing solutions company would use the capital to expand its leadership in consumer and enterprise markets worldwide, including North and South America, Europe, Asia, and the BRIC nations. The company’s operating systems virtualization software platform, MojoPac, gives users around the globe a mobile workplace in the palm of their hands. “MojoPac is experiencing phenomenal growth month to month across multiple channels,” said Appajodu adding that this round of funding will enable the company to accelerate consumer and enterprise market growth and to service customers across the globe.
The funding comes from MDV-Mohr Davidow Ventures and first-round investors New Enterprise Associates (NEA), bringing total investment in the company to $16 million.
The MojoPac technology enables customers to take all of their documents, files, applications, and settings on a portable USB storage device, which when plugged into any Windows XP based PC brings up their customized and private computing environment. With MojoPac, multiple users can have a complete, private and secure personal computing experience while sharing a single PC. The MojoPac software platform is experiencing strong market adoption across consumer and enterprise channels. MojoPac has garnered tens of thousands of users since launch in September 2006, while its Enterprise Solution is seeing strong growth across legal, insurance, healthcare and home-based sales business verticals.
Akros Silicon raises $10.1 million in Series B
Akros Silicon, a fabless semiconductor company, has secured $10.1 million in Series B financing led by Levensohn Venture Partners. Co- Founded by Sajol Ghoshal who is also Chief Technical Officer, Akros Silicon enables better use of Ethernet through large-scale deployment of network-attached appliances. The investment includes existing Series A investors, Bay Partners, SPM Capital and US Venture Partners.
The finances will be used for accelerating the development of new and innovative system level ICs that manage power at the edge of the network. The company also intends to expand its worldwide marketing and sales presence.
“Akros Silicon has successfully developed a fundamentally disruptive family of products that will revolutionize power and Ethernet management at the edge of the network,” said Pascal Levensohn, Managing Director of Levensohn Venture Partners, who has joined as one of the board of directors.
Akros Silicon was recently awarded the Fabless Start-Up to Watch Award from FSA (Fabless Semiconductor Association) and was also identified as the most promising fabless semiconductor company that demonstrated the potential to positively change its market or the semiconductor industry.