IO Semiconductor, a San Diego fabless chip design startup, has raised $1 million in debt and equity-based funding, out of a $14 million planned offering, according to an SEC filing. The money comes as part of a multi-stage funding agreement with a private investor, said business development VP Pete Fowler, who said that the funding is mostly equity based, but did not disclose any additional details about the deal. In September, IO was accepted to EvoNexus, the nonprofit incubator from the industry group CommNexus.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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