Product category:
Embedded Software and Operating Systems
News Release from: Aonix
Edited by the Electronicstalk Editorial
Team on 11 March 2002
More money for NewMonics Java
development
NewMonics has completed a preferred round of investment from Tucson Ventures.
NewMonics has completed a preferred round of investment from Tucson Ventures Other investors include Arch Venture Partners, APV Technology Partners, Dynafund Ventures, Venture Investors and Intel Capital
This article was originally published on Electronicstalk on 27 Mar 2002 at 8.00am (UK)
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NewMonics has developed the first Java virtual machine specifically for use in the product development life cycle of the management and control plane functions of carrier-class products.
NewMonics was founded by Dr Kelvin Nilsen, a 1988 PhD graduate of the University of Arizona computer science department.
Nilsen is a recognised expert in the field of real-time Java for embedded applications and holds several commercial patents.
"In 2002 and beyond, we see significant opportunities for NewMonics to address the needs of systems architects designing and implementing real-time embedded applications within the factory automation, telematics and telecommunications infrastructure categories", says Jim Thornton, Venture Partner at Tucson Ventures.
"NewMonics has built an impressive customer list and is poised to take market share away from other solution providers in the complex and high-end embedded space".
"This investment will provide NewMonics the necessary capital to increase sales and marketing activity, thus accelerating our revenue growth.
Participation by Tucson Ventures improves NewMonics' ability to utilize all the available resources in the Tucson community", says David McCrabb, Chief Executive Officer of NewMonics.
NewMonics is the creator of the PERC Platform, a Java-compatible embedded virtual machine and libraries expressly made for complex embedded systems such as those found in network infrastructure devices, telematics and industrial automation products.
PERC has a customer following that includes Nortel Networks, Intel, Xata/Qualcomm and Parker Hannifin.
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