IP Infusion Gets $14.7M Infusion

IP Infusion completes $14.7M third round, led by Formative Ventures in the U.S. and imGO Limited in Hong Kong

April 24, 2002

1 Min Read

SAN JOSE, Calif. -- IP Infusion Inc., a leading provider of intelligent network software for enhanced IP services, announced today that it has completed a $14.7 million third round of private financing, which brings the company's total funding to $20.4 million since its founding in 1999. The $14.7 million Series C round was co-led by Formative Ventures Inc. in the U.S. and imGO Limited (Investor AB, Ericsson, Hutchison Whampoa, and the Guoco Group) in Hong Kong. Other U.S. investors include Akers Capital, LLC, Blumberg Capital, Cardinal Ventures, the Intel Communications Fund, and WS Investments (Wilson Sonsini). Other international investors include IT-Farm Corp. (METI Japan, Japan Ministry of Finance and Mitsubishi), ITX Corp. (Nissho Iwai Corp.), Japan Venture Capital Corp. (Mitsubishi and China Development Bank), Neoteny Co., Ltd. (Whitney & Company and IBM Japan, Ltd.) and Nippon Information Technology Consulting Corp. "This is a strong, balanced team of U.S. and global investors with expertise across the broad spectrum of networking, enhanced IP (Internet Protocol) services, and wired and wireless markets and technologies," Nick Keating, IP Infusion president and CEO, said. "We are very pleased to have received their investments. This funding will help sustain IP Infusion's customer-building and revenue-generating initiatives, as well as product development and diversification in the markets of opportunity for intelligent networking software." IP Infusion Inc.

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