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Gadzoox raises $8.9 million

Gadzoox Networks, a struggling provider of storage networking equipment, has raised $8.9 million, the San Jose, Calif., company said Thursday. The company sold $3.9 million in stock to Balch Hill Capital and another investor and sold $5 million of a convertible debenture to Berg & Berg Enterprises. The company plans to announce more information about the funding during a Jan. 28 conference call about its financial results for the third quarter of fiscal 2002. The funding will be used to continue pushing the company's Slingshot switch, which can transmit data using the new 2-gigabit-per-second version of the Fibre Channel network technology.

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Stephen Shankland principal writer
Stephen Shankland has been a reporter at CNET since 1998 and writes about processors, digital photography, AI, quantum computing, computer science, materials science, supercomputers, drones, browsers, 3D printing, USB, and new computing technology in general. He has a soft spot in his heart for standards groups and I/O interfaces. His first big scoop was about radioactive cat poop.
Expertise processors, semiconductors, web browsers, quantum computing, supercomputers, AI, 3D printing, drones, computer science, physics, programming, materials science, USB, UWB, Android, digital photography, science Credentials
  • I've been covering the technology industry for 24 years and was a science writer for five years before that. I've got deep expertise in microprocessors, digital photography, computer hardware and software, internet standards, web technology, and other dee
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Stephen Shankland
Gadzoox Networks, a struggling provider of storage networking equipment, has raised $8.9 million, the San Jose, Calif., company said Thursday. The company sold $3.9 million in stock to Balch Hill Capital and another investor and sold $5 million of a convertible debenture to Berg & Berg Enterprises. The company plans to announce more information about the funding during a Jan. 28 conference call about its financial results for the third quarter of fiscal 2002.

The funding will be used to continue pushing the company's Slingshot switch, which can transmit data using the new 2-gigabit-per-second version of the Fibre Channel network technology.