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VGo Communications corrals $4.2M in latest round
May 24, 2011 | William Zimmerman
VGo Communications Inc., a New Hampshire maker of telepresence robots, has taken in $4.2 million in a planned $6 million new equity funding round, the company reported in federal documents.
Founded as North End Technologies Inc., the Nashua company took in $3.3 million in its previous round, filed in February of 2010. At that time, the only institutional investor in the company was Castile Ventures, with the rest of the backers made up of angels and company executives, officials said.
In the latest funding, according to the filing with the U.S. Securities and Exchange Commission, 11 backers participated in the round. While none were specifically identified, listed as related persons were Nina Saberi of Castile and the executive chair of the company, as well as Bruce Ryan, who has served on the board of a number of Castile-backed startups. Also tagged as related persons are co-founders Tom Ryden, Tim Root and Grinnel More, respectively COO, CTO and chief robotics officer.
All told, VGo has taken in a little more than $10 million in funding since it was founded in 2007. Founders Ryden and More were former iRobot Corp. executives, and Root is a former CTO at Andover-based videoconferencing pioneer PictureTel.
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