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Avaak secures USD10m in series B funding

Avaak, a provider of ultra low power wireless video networking technology, has raised USD10m in series B funding led by Qualcomm.

Qualcomm joins Avaak’s existing investors, Trinity Ventures, InterWest Partners and Leapfrog Ventures, in backing Avaak’s wireless video technology being delivered in the Vue personal video network consumer product.

The Vue system allows consumers to monitor their homes or businesses via the internet and access a live video feed through a mobile device. The system features a network of small, battery-powered cameras that can be placed anywhere.

"Avaak has taken video monitoring to a new level of simplicity, allowing consumers to view live video on their mobile devices," says Nagraj Kashyap (pictured), vice president of Qualcomm Ventures. "Vue’s early success has been impressive and illustrates the product’s strong market potential. Qualcomm is pleased to support Avaak as it enters its next exciting growth phase."

The capital will support expansion of the Vue system into retail distribution and the development new products.

"This strategic investment reflects confidence in our Vue personal video networking product that has the potential to fundamentally alter the economics of installing and implementing video services in the consumer DIY market," says Gioia Messinger, co-founder and chief executive officer of Avaak. "The Vue is transforming how busy individuals and families keep track of what’s important to them. With the help of our investment partners, we’re excited to extend our reach to a broader customer base and make further enhancements to our award-winning product portfolio."

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