Elemental Technologies Inc. Obtains $7,100,000 Series A Financing Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3f80f5f5-9932-47bf-b655-35893293db7b&Preview=1
Date
7/18/2008
Company Name
Elemental Technologies Inc.
Mailing Address
421 SW Hall St. Portland, OR 97201
Company Description
Elemental Technologies, headquartered in Portland, Oregon, is the leading provider of massively parallel processing (MPP) solutions, initially targeting video applications. Utilizing general purpose, programmable “off the shelf” graphics processing units (GPUs), the RapiHD™ Video Platform is ideally suited for a variety of video applications ranging from consumer media processing to professional video editing to Internet video processing.
Website
http://www.elementaltechnologies.com
Transaction Type
Venture Equity
Transaction Amount
$7,100,000
Transaction Round
Series A
Proceeds Purposes
“We now have the capital to aggressively ramp our RapiHD and Badaboom product lines, as well as attack new Internet and IPTV video processing markets,” said Sam Blackman, CEO of ETI.
M&A Terms
Venture Investor
General Catalyst Partners
Venture Investor
Voyager Capital