Wednesday, September 5, 2012

Macheen Connects With $10M More

Austin-based Macheen, the developer of services which help connect devices to the Internet using mobile networks, said that it has raised an additional $10M in financing. The funding came from GemVentures, and also included existing investors North Bridge Venture Capital, DFJ Mercury, as well as angels Tom Meredith, Mike Maples Sr. and Yechiam Yemini. As part of the funding, Philippe Vallee of GemVentures joins the company's board. Macheen, which is headed by Richard Schwartz, develops services which help provide pre-wired Internet connectivity to devices out of the box, by tapping into 3G and other mobile networks. More information »