Filed under: Raising money, Investments
Intel Corp. (NASDAQ: INTC) spinoff GainSpan Corp. landed $20 million in a second round of venture capital to move into volume production of extremely low power WiFi chips the company recently launched in the fast-growing industrial sensor market.
Opus Capital of Menlo Park, Calif., led the deal, which includes previous investors Intel Capital of Santa Clara, Calif., New Venture Partners of Murray Hill, N.J., OVP Venture Partners of Portland, Ore., and Sigma Partners of Menlo Park, which initially invested $1.5 million to spin the company out of Intel in September 2006.
The new investment is positioned to fully fund the company to positive cash flow as it expands marketing of chipsets and software for a wide range of commercial and industrial applications.
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