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LinuxPR: LynuxWorks, Inc. Closes $35M in Private Financing

Jun 19, 2000, 17:23 (0 Talkback[s])

"LynuxWorks, Inc., a leader in embedded Linux and a pioneer in the open standards real-time operating system (RTOS) industry, today announced that it has closed a round of private financing totaling $35 million. The latest group of investors includes Dain Rauscher Wessels Venture Partners L.P., Sun Venture Capital Partners, Satwik Management LLC, RVS Holdings, Pacific Venture Partners, Technology Associates Management Corp., Lite-On Technology Corp., Pacific Technology Investment Group, Sands Brothers Venture Capital, NetAngels Fund LLC, Venus Capital Management, and Hencorp Venture Partners, LLC. This latest group of investors joins Intel Corp., Motorola Computer Group and TurboLinux, Inc., which each made minority equity investments earlier this year."

"The funding will be used to help LynuxWorks advance development and deployment of its Linux-based technology in embedded systems ranging from Internet appliances and hand- held wireless devices to communications infrastructure and mission critical air-traffic control modules. The company will also expand research and development of "high-availability," (downtime of less than 5 minutes per year), products for the telecommunications, data communications, and aerospace markets."

"Linux is in an excellent position to provide the missing platform for the fragmented embedded market, around which the embedded software industry can flourish," said Dr. Inder Singh, chairman and CEO of LynuxWorks. "This funding will help further our research and development and expand our global infrastructure for supporting embedded Linux developers."

Press Release