What Company Is Offering:
GainSpan is a technology innovator and leader in Wi-Fi semiconductor and software solutions that provide years of battery life for sensors and other connected devices. GainSpan brings Wi-Fi sensor networks to life with breakthrough technology that leverages the ubiquitous Wi-Fi infrastructure and enables Wi-Fi devices to run up to 10 years on an AA battery. GainSpan solutions enable people to save money, save energy and work smarter.
How Much They Got From VCs:
GainSpan, an innovator in Wi-Fi® sensor network technology, announced it has completed its series B funding round, raising a total of $20 million. The round is being led by Opus Capital with participation from returning investors including Intel Capital, New Venture Partners, OVP Venture Partners and Sigma Partners. Opus General Partner Carl Showalter will join the GainSpan board of directors.
Purpose Of Raising Funds:
GainSpan will use the additional funding for continued technology innovation, global business expansion and new market penetration. The company plans to expand its global sales and marketing force and will target several new and emerging markets beyond its initial industrial and commercial automation focus. Funds will also be used for product development, both to expand its Wi-Fi semiconductor product family and to continue developing solutions around both software and silicon architectures.
About VCs:
Opus Capital is a venture capital firm with more than $1 billion capital under management, investing in committed, high integrity entrepreneurs building early-stage technology companies. The team has participated in the successful outcomes of more than 80 companies (including 50 IPOs) in the U.S. and in Israel including AirGate PCS, Electronics for Imaging, FedEx, Genesys, Harmonic, Precept Software and Vantive. Opus Capital is headquartered on Sand Hill Road in Menlo Park, California. For more information, visit http://www.opuscapitalvc.com.
More at:http://www.gainspan.com.
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