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Tech Industry

VC watch: Blue Ridge Networks gets $10 million

Blue Ridge Networks raises $10 million...LGC Wireless grabs $19.3 million...Viata Software gets $3 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. This page is updated daily. Keep checking back for the latest.

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

Thursday's deals

• Blue Ridge Networks raised a $10 million second round of funding, led by SpaceVest. Other investors include North Atlantic Venture and Knickerbocker Capital. Chantilly, Va.-based Blue Ridge Networks has raised a total of $11.5 million, with the latest round an increase in valuation. The company provides a service that enables companies to offer secure communications over the Internet via outsourced virtual private networks.

Wednesday's deals

• Blue Ridge Networks raised a $10 million second round of funding, led by SpaceVest. Other investors include North Atlantic Venture and Knickerbocker Capital. Chantilly, Va.-based Blue Ridge Networks has raised a total of $11.5 million, with the latest round an increase in valuation. The company provides a service that enables companies to offer secure communications over the Internet via outsourced virtual private networks.

• LGC Wireless received $19.3 million toward its fifth round, which it expects to close in December at $30 million. Allegis Capital led the fifth round and will receive a seat on LGC's board. Other investors include Crystal Internet Ventures, which will receive a board seat, and previous investor pension fund OMERS. San Jose, Calif.-based LGC has raised a total of $70 million. The company develops hardware, software and content systems used by wireless carriers to increase wireless connections and capacity in large buildings and metropolitan areas.

• Viata Software has raised $3 million in a second round of funding, led by investor John Dean, chairman of Silicon Valley Bank. Honolulu-based Viata, an application service provider, has raised a total of $3.6 million. The company provides software to the travel industry that is designed to automate distribution, manage supplier relationships and inventory, and finalize reservations in real time.

• SealedMedia raised a $16.5 million third round of funding. Investors include Pond Venture Partners, Crescendo Ventures and 3i. San Francisco-based SealedMedia has raised a total of $28 million. The company develops security software for digital content.

• Mysticom raised $28 million in a fifth round of funding. Lehman Brothers, ABN AMRO Capital, Royal Philips Electronics, Giza Venture Capital, Koor Corporate Venture Capital, and previous investors Cisco Systems, Eucalyptus Venture Funds, J.P. Morgan Partners, Newbury Ventures, Pitango Venture Capital and Texas Instruments participated in this latest round. Netanya, Israel-based Mysticom has raised a total of $42 million. The company develops software that enables data transmission via Ethernet connections.

• Metro-Optix raised a $54 million third round of funding, led by Van Wagoner Capital. Other investors included Palantir Capital, and previous investors J.P. Morgan Partners, InterWest, Sevin Rosen, Centerpoint, Bluestream, JW Seligman and Watsach. Metro-Optix, which is jointly headquartered in Santa Clara, Calif., and Allen, Texas, has raised more than $136 million. Metro-Optix develops hardware for telecommunications companies that want to transition from circuit-based services to cell- and packet-based services. The hardware essentially reduces the number of hardware boxes needed, such as routers, which the networks feed into.

Tuesday's deals

• NTRU received a $26.1 million second round, led by Investor Growth Capital. Other investors include Texas Instruments, Sony, Macrovision, Lehman Brothers Venture Capital, Greylock, Granite Ventures and 3i. Burlington, Mass.-based NTRU has raised a total of $38 million. The company develops security software for small, multimedia and wireless devices.

• Anark received $5.8 million toward its second round, which it expects to close by the end of the year with a total of $8 million for the round. Wolf Ventures and Murphree Venture Partners led the round, which included participation from other new and previous investors. Boulder, Colo.-based Anark has raised a total of $7.8 million. The company develops software for digital media, such as content authoring, streaming and real-time display.

• Neovest Holdings raised a $5 million third round of funding, led by Conning Capital. Atlanta-based Neovest develops software that allows hedge funds and brokerages to create filters to screen stocks based on the selected criteria. The real-time filters are designed to generate investment ideas. Neovest has raised a total of $14 million.

Monday's deals

• Megisto Systems raised $21.6 million toward its second round, led by Norwest Venture Partners. Other investors include New Enterprise Associates and previous investors Columbia Capital, Bessemer Venture Partners and Lucent Venture Partners. Germantown, Md.-based Megisto plans to raise an additional $17.7 million for the round in the next several months. Megisto develops hardware it sells to telecom companies, which is used to connect mobile wireless subscribers to different data services. The company has raised a total of $33.6 million.

Thursday's deals

• Xyron Semiconductor has received $1.4 million toward its first round of funding, which it hopes to close at $2.4 million by the end of the month. Institutional investors and former Microsoft executives contributed to the round. Portland, Ore.-based Xyron Semiconductor has developed microprocessor circuits that allow existing and future microprocessors to automatically manage their workload without using clock cycles.