Wednesday, December 19, 2007

GainSpan Amps Up $20M Investment

Sunnyvale-based GainSpan said this morning that it has completed a $20M, Series B funding round for its Wi-Fi sensor network technology. According to the firm, the round was led by Opus Capital, and also included participation from prior investors Intel Capital, New Venture Partners, OVP Venture Partners and Sigma Partners. Carl Showalter of Opus joins the firm's board in conjunction with the funding. GainSpan said it will use the funding for innovation, expansion, and new market penetration. GainSpan is a spinoff of Intel's new Business Initiatives Group. More information »