I-Logix secures new financing.I-Logix Inc., a provider of enterprise solutions for embedded applications An application that permanently resides in an industrial or consumer device. Providing some type of control function and/or user interface, the software is typically stored in a non-volatile memory such as ROM or flash memory. development, announced the completion of $7.6 million in new equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , including $4.6 million from new investors. New strategic investors Philips Ventures BV, the venture capital affiliate of Philips Electronics, and Needham Capital Partners, an affiliate of the New York-based investment bank and private equity firm Needham & Co., lead the equity round. Existing investors participating in the financing included ABS (Automatic Backup System) See backup program. Ventures, One Liberty Ventures, Commonwealth Capital Ventures, North Bridge Venture Partners and Gilde Investment Management. This transaction brings the total amount of equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. secured over the last 16 months to more than $18 million. www.ilogix.com |
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