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November 16, 2005 8:10 pm
OQO, the San Francisco-based pioneer of pocket-sized PCs running Microsoft Windows XP software, has secured an additional $20m in funding from a group of investors including Motorola.
The company, which manufacturers the model 01 and model 01+ “ultra personal computers,” will use the new funds to boost its sales and marketing efforts and to “accelerate research and development of next generation ultra personal computer products and related technologies.”
The latest funding round, which was oversubscribed, follows the launch of the model 01+, an upgrade to the model 01 ultra personal computer, the first pocket-sized machine to run a full version of Windows XP.
The latest funding round was led by Washington DC-based Paladin Capital Group with existing institutional investors Azure Capital Partners and AsiaTech Management and included Motorola Ventures, the venture capital arm of the US mobile phone and electronics group, as a new strategic investor.
“OQO is pleased to add to our world-class group of institutional investors” said Jory Bell, OQO’s chief executive. “Paladin’s deep insight into government and other specialized market segments will prove invaluable as we continue to grow and diversify our business, while Motorola’s participation aligns OQO with a leader in wireless telecommunications.”
Warren Holtsberg, corporate vice president, equity investments, of Motorola Ventures, said, “with its unique technology and commitment to revolutionizing personal computing, OQO is an outstanding addition to Motorola’s portfolio of technology investments.
“By facilitating the development of next generation pocketable computers, Motorola’s strategic investment will advance our goal of bringing seamless mobility to wireless users.”
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