Aprisa Receives Funding From Siemens Venture Capital.Business Editors WESTLAKE Westlake, city (1990 pop. 27,018), Cuyahoga co., NE Ohio, a suburb of Cleveland; inc. as a city 1956. A growing city, its various manufactures include ink and plastics. VILLAGE, Calif.--(BUSINESS WIRE)--March 7, 2000 Web-based Engineering Service Provider Aprisa Inc. today announced that after recently opening a second round of funding to raise $5 million -- $3.5 million in venture capital and $1.5 million in a strategic-partnership -- it has secured $3.5 million from a consortium of venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: led by Siemens Venture Capital (SVC (1) (Switched Virtual Circuit) A network connection that is established at the time the transmission is required and disconnected when the session is completed. ), the investment branch of the Siemens Group of Companies. Additionally, SVC's Investment Manager of External Ventures, Dr. Ing Dr. Doctor. dr. dram. Harald Kirchner, has joined Aprisa's board of directors as the representative of this round. "Siemens invests in dynamic markets of the future, funding young and highly innovative companies," said SVC's President and Chief Executive Officer Dr. Dirk Lupberger. "As a part of the Siemens Group, which employs thousands of engineers, SVC sees tremendous value in Aprisa's business concept of being the definitive online source for the EE community, giving chipmakers a powerful marketing channel and giving engineers a sophisticated discovery tool for locating and researching designs and active components." "We are very pleased to have Siemens Venture Capital as an investment partner," said Aprisa Founder and Chief Executive Officer Martin Shum. "Having funded over 300 startups and with offices in the heart of Silicon Valley, SVC is the ideal investment partner from which to glean glean v. gleaned, glean·ing, gleans v.intr. To gather grain left behind by reapers. v.tr. 1. To gather (grain) left behind by reapers. 2. insight and guidance and help us bring our revolutionary technology to market." Aprisa is currently in negotiations with a potential strategic partner to secure an additional $1.5 million and complete its second round of funding. With this funding, Aprisa has the financial resources to build out its infrastructure and complete production of CircuitNet(tm), the company's revolutionary discovery tool for engineers that also represents a powerful online marketing channel for technology vendors. Aprisa will also use these funds to launch the company's Web site, www.theCubicle.com, which the company plans to make the definitive source of advanced technology for the EE community. About Aprisa Aprisa, a Web-based Engineering Service Provider (ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. ), speeds product to market by enabling a fast and thorough design discovery process. Aprisa's patent-pending rules-based search engine allows electronics design engineers to find, evaluate and compare the latest in technology. Aprisa's next-generation solution is available at theCubicle.com. Aprisa is based in Westlake Village. For more information, visit www.theCubicle.com. About Siemens Venture Capital Based in Munich, Siemens Venture Capital GmbH (SVC) is a subsidiary of Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. . True to its slogan A slogan is a memorable motto or phrase used in a political, commercial, religious and other context as a repetitive expression of an idea or purpose. Slogans vary from the written and the visual to the chanted and the vulgar. of "Fostering Innovation for Economic SuccessTM," SVC invests in dynamic markets of the future through cooperative agreements with and shareholdings in young and highly innovative companies and through its support for external ventures, spin-offs and venture capital funds. Siemens Venture Capital offers its portfolio companies more than "just venture capital." Strategic partnerships, access to its worldwide network of companies, its sales channels and its R&D facilities are only a few advantages to mention. Since January 1999, SVC has supported the Siemens Groups, particularly Information and Communications, Medical Engineering and Microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. through "smart money." SVC has offices in Munich; Boston; Silicon Valley, Calif.; and Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest . For more information, see: http://www.siemens.de/svc. |
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