3Dsolve Inc. Closes Early-Stage Investment; Acclaimed ``Global Leader of Tomorrow'' Joichi Ito Among Private Investors.Business Editors/High-Tech Writers CARY, N.C.--(BUSINESS WIRE)--Jan. 13, 2004 3Dsolve Inc., The Simulation Learning Company, announced that it has closed an early-stage investment round. The funds will be used to enable the development and delivery of new products and services, as well as marketing and business development activities to enable future growth. "We're we're Contraction of we are. we're we are pleased to be able to announce this round of financing," said Richard Boyd Richard Boyd (Ph.D. MIT 1970) is a philosopher who has spent most of his career at Cornell University, though he also taught briefly at Harvard University and the University of Michigan. He is well known in philosophy of science circles as a realist. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 3Dsolve. "Not only will the funds we've raised assist us in product development, marketing, and business development, but they represent an important vote of confidence in our strategy and vision from a group of extremely seasoned investors." Funding for the round came from a variety of private investors in the US and Japan. The largest block of funding came from a group of investors led by 3Dsolve advisory board member Joichi Ito. Ito is well-known for creating numerous Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the companies including PSINet Japan, Digital Garage, and Infoseek Japan. In 1997 Time magazine ranked him as a member of the CyberElite. In 2000 he was ranked among the "50 Stars of Asia" by Business Week and commended by the Japanese Ministry of Posts and Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. for supporting the advancement of IT. In 2001 the World Economic Forum chose him as one of the 100 "Global Leaders of Tomorrow" for 2002. Most recently, Wired magazine named Ito one of eight "connectors," "the hypernetworked nodes who secretly run the world." "Having worked with the 3Dsolve team over the past year and a half, and its founders prior to that, I was excited to have the opportunity to invest in the people and the company they're building," said Ito. "Their vision for simulation learning and the impact it will have is both compelling and highly achievable." About Simulation Learning Simulation learning includes e-learning solutions based upon computer simulations of real-world equipment and processes. Simulation learning is based on the simple idea that people learn best when they learn by doing. Industry research firm Brandon-hall forecasts that the market for e-learning simulation will grow from $300 million in 2002 to $6.1 billion in 2006 and an astonishing a·ston·ish tr.v. as·ton·ished, as·ton·ish·ing, as·ton·ish·es To fill with sudden wonder or amazement. See Synonyms at surprise. $37 billion in 2011. About 3Dsolve 3Dsolve, The Simulation Learning Company, creates collaborative simulation learning solutions for government, military, and corporate applications, a market estimated to reach $6.1 billion by 2006. 3Dsolve's simulation learning products use realistic, interactive 3D graphics, based upon industry standards, enabling users to learn by doing. 3Dsolve has been named as one of Military Training Technology magazine's Top 100, the "companies that have made a significant impact in the military training industry." 3Dsolve's headquarters are in Cary, North Carolina Cary is the second largest municipality in Wake County, North Carolina and the third largest municipality in The Triangle (North Carolina) behind Raleigh and Durham. It is the seventh largest municipality in North Carolina. , near world-renowned Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. . Visit 3Dsolve on the Web at http://www.3dsolve.com. |
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