Progeniq Gets Series A, Engineering Co-Founder of Skype Participates
April 14, 2010 by SGE
It last raised pre-series A funds from BAF Spectrum with the participation of SPRING SEEDS Capital Pte Ltd two years ago. This time, Progeniq raises Series A funding led by BAF Spectrum, Ambient Sound Investments and SPRING SEEDS Capital.
William Klippgen, Executive Director of BAF Spectrum and Margus Uudam, Managing Director of Ambient Sound Investments, will both join Progeniq’s board of directors.
Progeniq will use part of the investment proceeds to increase its global marketing footprint and to start production of its revolutionary RenderBoost card to be launched for general availability in Q3 2010. The RenderBoost hardware card fits into standard x86-based rack servers and cuts time for rendering high-definition frames by as much as 80%.
Progeniq does seem to be in good hands, as Klippgen was the co-founder of Kelkoo, which was eventually bought by Yahoo!, while Toivo Annus, lead partner of ASI was the former co-founding engineer of Skype.
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Covering the Singapore and Southeast Asia startup and entrepreneurship scene since 2005.Read other posts by SGE