"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."
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