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Gadzoox wins funding

Gadzoox, a maker of storage-network equipment, has secured more than $7 million in funding from Balch Hill Capital and Galleon Group, the company announced Wednesday. The money will be used to develop new products and continue the launch of the company's newest release, the Slingshot 4210, which supports a 2 gigabit-per-second version of the Fibre Channel. The investors bought shares in Gadzoox at a price of $1.50 per share. The company's shares were trading around $1.40 Thursday.

Gadzoox, a maker of storage-network equipment, has secured more than $7 million in funding from Balch Hill Capital and Galleon Group, the company announced Wednesday. The money will be used to develop new products and continue the launch of the company's newest release, the Slingshot 4210, which supports a 2 gigabit-per-second version of the Fibre Channel.

The investors bought shares in Gadzoox at a price of $1.50 per share. The company's shares were trading around $1.40 Thursday.