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Tech Industry

VC Watch: Airgo pumps in $20 million

The funding comes from the chip company's third round...Storage maker Exavio gets $14.3 million...Software maker Forte Design Systems receives $9 million.

Which companies will be the trendsetters of the future? The following list is the latest news from start-ups here and abroad that have received venture funding.

Has your company just completed a round of financing or received other venture capital support? E-mail the editors at CNET News.com.

Recent Deals

• Airgo Networks announced Wednesday that it raised a $20 million third round of funding, led by OVP Venture Partners. Previous investors Accel, Sevin Rosen and Nokia Venture Partners contributed to the round. The Palo Alto, Calif.-based company has raised a total of $52 million. Airgo Networks develops chipsets and other semiconductor products designed to improve the speed and reliability of wireless connectivity.

• Exavio announced Tuesday that it raised a $14.3 million first round of funding. ComVentures, VantagePoint Venture Partners, Crystal Internet Venture Funds and Enspire Capital contributed to the round. San Jose, Calif.-based Exavio develops storage for digital media and Internet Protocol-based switching software for on-demand video services in the entertainment, education and broadcast markets.

• Forte Design Systems announced Tuesday that it raised a $9 million second round of funding, led by 3i Group. Previous investors Infinity Capital and U.S. Venture Partners also contributed to this round. A member of 3i will join Forte's board. Forte, based in San Jose, Calif., has raised a total of $13 million. Forte Design Systems develops electronic design automation software for semiconductors and electronic systems.

• Apptera announced Tuesday that it raised a $5.6 million second round of funding, led by Lightspeed Venture Partners. Previous investor Alloy Ventures contributed to the round. San Bruno, Calif.-based Apptera develops packaged speech applications for use in call centers.

• Moonlight Systems announced Wednesday that it raised a $5 million second round of funding, led by BA Venture Partners and Bay Partners. The San Mateo, Calif.-based company has raised a total of over $19 million. Moonlight develops software designed for Web-based applications. In separate news, the company named John Lambert, a former vice president at Rational Software, as its new chief executive.

• SecureLogix announced Monday that it has raised $4.2 million in a third round of funding, led by Symantec. Previous investors First Capital Group and Castletop Capital also participated in the round. San Antonio, Texas-based SecureLogix develops security software for data and voice networks.

• Satori Group announced Wednesday that it raised a $4 million first round of funding, led by Edison Venture Fund and Zon Capital. Conshohocken, Pa.-based Satori develops business performance management software and provides consulting, training and user-support services.

• In related news, venture capital investing in tech companies continued to decline in the first quarter, but the information services and semiconductor sectors showed some hope, according to a joint report released by Ernst & Young and VentureOne.

The total funding received by tech companies dipped to $2.26 billion in the first three months of 2003, falling from $2.56 billion in the fourth quarter of last year, and $3.79 billion in the year-ago quarter. Venture funding in the dot-com heyday provided information technology (IT) with $15.29 billion in the second quarter of 2000.

The dip comes as quarterly venture capital funding in all sectors--not just IT--hit a five-year low in the first quarter, dipping below $4 billion for the first time since 1997.