Short Take: Cobalt lines up new investors

Cobalt Networks, an early manufacturer of single-purpose "server appliances," has completed a $36 million round of venture capital funding to develop and boost its Linux-based products, the company said today. Analysts say the server appliance market will grow, but that existing smaller companies such as Cobalt have had trouble getting the word out. New investors contributing to Cobalt's current round include August Capital, Van Wagoner Capital, General Electric Pension Trust, J&W Seligman, Pequot Private Equity Fund, and Pequot Capital Management.