FOR IMMEDIATE RELEASE
Telepathy Inc. Raises $5 Million in Venture Funding; Announces Hiring Plan
Sunnyvale, Calif. – August 21, 2013 – Telepathy Inc., today announced it has closed its $5 million Series A funding round, led by Firsthand Technology Value Fund, Inc. The financing will enable the company to further accelerate its product development efforts and fund a number of key hires at its new Sunnyvale, CA headquarters.
Telepathy One, the company’s first product, is a wearable, real-time, hands-free communication device that was introduced earlier this year at SXSW Interactive Festival. The company plans to deliver its software development kit (SDK) to application developers this fall. For images of the device, please visit:
“Wearable technology will enable the next wave in social networking,” said Takahito Iguchi, Telepathy’s CEO, “and the initial response to our Telepathy One prototype has been astounding. The $5 million funding will enable us to enrich the user experience of Telepathy One, which we expect to bring to market in 2014.”
The company today announced plans to add several additional hardware and software engineers to its expert team in Sunnyvale. Positions include UI/UX/HFE engineers, application software developers, server software developers, embedded system developers, and communication firmware developers. For more details on available positions with the company, please visit:
Telepathy has also announced the addition of Peter Hoddie, VP of the Kinoma Software Platform at Marvell Semiconductor, to its advisory board. Through his work as QuickTime Architect at Apple, a contributor to the MPEG-4 standard, and an entrepreneur co-founding two companies, Peter is recognized for pushing the limits of digital video.
About Telepathy Inc.
Telepathy Inc. is a startup originally established in January 2013 in Japan; now headquartered in Sunnyvale, California as of June 2013. The company develops and supplies social communication devices that promote the development of bonds between people as if they had telepathic connections. Priding itself on build quality and fashionable styling, the company’s mission is to connect people to each other in a much more intimate way than ever before.
About Firsthand Technology Value Fund, Inc.
Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) is a publicly-traded venture capital fund that invests in technology and cleantech companies. More information about the fund and its holdings can be found online at www.firsthandtvf.com.
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