OQO has a new sugar daddy
OQO is a company that has been attempting to mainstream a PDA that runs Windows XP. It’s an ambitious project, but one that will be ongoing for a good while longer. They have received $20 million in an oversubscribed round of financing. The new money will be used to increase sales and marketing and accelerate research and development on the next generation of mini-computers.
The funding, raised by Washington, D.C. based Paladin Capital Group, comes from existing investors in the company along with a new investor – Motorola Ventures, the venture capital arm of Motorola. Clearly this is much more than just a case of Motorola looking for good return on their money. It will be interesting to see what comes of this new cash infusion. Certainly, having full XP usability in your pocket would be a great advance.
“OQO is pleased to add to our world-class group of institutional investors,” said Jory Bell, OQO’s CEO. “Paladin’s deep insight into government and other specialized market segments will prove invaluable as we continue to grow and diversify our business, while Motorola’s participation aligns OQO with a leader in wireless telecommunications.”
The love-in continues. “With its unique technology and commitment to revolutionizing personal computing, OQO is an outstanding addition to Motorola’s portfolio of technology investments,” said Warren Holtsberg, corporate vice president, equity investments, of Motorola Ventures. “By facilitating the development of next generation pocketable computers, Motorola’s strategic investment will advance our goal of bringing seamless mobility to wireless users.”
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