In addition to Woodside Fund, Aristos Logic's latest round of investors included J.P. Morgan Chase Bank & Co., TPG Ventures, QTV Capital, and Macnica Inc. of Japan. The startup will use the investment for sales, marketing, and production of its first chip, which is expected to ship in volume by yearend.
Meanwhile, LiveVault's second round was led by Sevin Rosen Funds and included participation from existing investors Matrix Partners, Atlas Venture, Adams Street Partners, Iron Mountain Inc., and others. The company says the funding will tide it over to profitability; it brings the total raised by LiveVault to $20 million since late 2001 (see LiveVault Debuts Backup Service and LiveVault Swaps Out CEO).
Not everyone has been able to tap these VC reserves. Startups still looking for cash include Paceline Systems Corp., SAN Valley Systems Inc., StoneFly Networks Inc., TrueSAN Networks Inc., YottaYotta, and Zambeel Inc. (see SAN Startups on the Block, Paceline Angles for Buyout, YottaYotta's Gotta Problem, and StoneFly Takes Second Crack).
"We have to wait until all the companies in hibernation are flushed out and VCs start taking the losses before we know who will really survive," says Cheng Wu, a high-tech entrepreneur and angel investor (see Cheng Wu Quits Cisco).
Jo Maitland, Senior Editor, Byte and Switch
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