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Xytrans pulls in $8 million

Xytrans has raised $8 million in a second round of funding led by SpaceVest, along with participation from Grace Venture Partners. The recent round also included contributions from investors in the company's $4.5 million first round such as Alliance Technology Ventures, Crossbow Ventures, Sawtek and Stonehenge Capital. Xytrans will use the new financing to expand its sales efforts and develop new products. The Orlando, Fla.-based company makes chips and components for wireless gear that is used in satellite communication networks. Xytrans has exclusive licensing rights to technology from Lockheed Martin, a major supplier of equipment to the U.S. military.

Xytrans has raised $8 million in a second round of funding led by SpaceVest, along with participation from Grace Venture Partners. The recent round also included contributions from investors in the company's $4.5 million first round such as Alliance Technology Ventures, Crossbow Ventures, Sawtek and Stonehenge Capital. Xytrans will use the new financing to expand its sales efforts and develop new products.

The Orlando, Fla.-based company makes chips and components for wireless gear that is used in satellite communication networks. Xytrans has exclusive licensing rights to technology from Lockheed Martin, a major supplier of equipment to the U.S. military.