VC watch: Turin grabs $50 million

Turin Networks raises $50 million...Interwise gets $1 million from NTT Communications...MyCasa Network raises $3.3 million in a first round.

CNET News staff
2 min read
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 frequently. 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.

Wednesday's deals

 Turin Networks, an optical equipment maker, raised $50 million in its third round of funding and expects to soon garner an additional $8 million, bringing its total funding to $130 million. Doll Capital Management led the round, which included new investors such as RWI Group, Tako Ventures and individual venture capital investor Don Lucas. Previous Turin investors Sequoia Capital, Van Wagoner Capital Management, and solo investors Don Green and BJ Cassin also participated in the round. Turin makes telecommunications gear that runs on SONET (Synchronous Optical Network) and Ethernet protocols. The gear handles data for metropolitan networks, or networks that operate within cities, as opposed to long-haul networks, which ship data between urban areas. Many other equipment makers such as Cisco Systems and Alcatel also compete in this area.

 Interwise received $1 million from NTT Communications toward its third round of funding. Santa Clara, Calif.-based Interwise has raised $35 million in its third round with this latest funding and has raised $71 million to date. Interwise develops software designed to allow collaboration and online learning for company employees.

 MyCasa Network has raised $3.3 million in a first round of funding, led by Enel Capital. Palo Alto, Calif.-based MyCasa develops hardware and software that enable customers to control and monitor their homes with devices such as cell phones, personal digital assistants and PCs.

Last week's deals

 Quiver raised $5 million toward its third round of funding. San Francisco-based Quiver, which develops information management software, expects to close the round next month and has raised a total of $22 million. Investors in the latest round include LMS Capital, El Dorado Ventures, Hummer Winblad Venture Partners and Partech International.

 MontaVista Software raised $28 million in a third round of funding. IBM, Sony, and previous investors U.S. Venture Partners, Alloy Ventures, Intel Capital, RRE Ventures and WR Hambrecht participated in this latest round. Sunnyvale, Calif.-based MontaVista has raised a total of more than $60 million. The company provides a variety of software and services for developing Linux-based applications geared for devices.