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Home - Venture capital financing wrap-up: Ubiquisys, Vela, Zipit and more
Archived ArticlesNetwork Infrastructure

Venture capital financing wrap-up: Ubiquisys, Vela, Zipit and more

by jscarbo July 25, 2007
written by jscarbo July 25, 2007 Share
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The following list includes venture capital and other investments into wireless companies announced during the past week. The value of the investment is included when available.
–Ubiquisys: Accel Partners, Atlas Venture, Advent Venture Partners and Google invested $25 million into Ubiquisys Ltd. during the company’s Series B round of funding. The company offers 3G femtocell access points.
–Vela: Commonwealth Capital Ventures and GrandBanks Capital co-led a $6 million Series A funding round into Vela Systems, which has developed mobile software that streamlines field administration for the architecture, engineering and construction industries. Existing investors CommonAngels and Launchpad Venture Group also participated. The company said it will use the funding to roll out national sales coverage, launch the company’s channel partner program and expand internationally. As part of the funding, Commonwealth Capital Ventures General Partner Elliot Katzman and GrandBanks Capital General Partner Ryan Moore joined Vela’s board of directors.
–Weblo.com: VantagePoint Venture Partners invested $3.2 million into Weblo.com. The company said it has created a virtual parallel universe that includes replicas of real cities, states, properties, domains and celebrities that are owned and managed by members. Geoff Mott, managing director of VantagePoint, joins Weblo.com’s board of directors as part of the financing.
–Zeligsoft: BDC Venture Capital led a $5 million investment round into ZeligSoft, which provides software development tools to the embedded computing industry. The Series B round of funding included initial investments from Export Development Canada and Echo Capital FIERS Outaouais L.L.P., and a follow-on investment from Fonds regional de solidarite FTQ Outaouais. BDC’s Simon Morris joins the company’s board or directors in connection with the funding.
–Zipit: Windspeed Ventures, SunBridge Partners, Meritus Ventures L.P. invested $4.5 million in Zipit Wireless Inc. in the company’s Series A funding round. The company said it also received $200,000 in start-up capital from SC Launch. Zipit developed Zipit Wireless Messenger, a Wi-Fi instant messaging device.

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