I-Cube Inc, Santa Clara manufacturer of field programmable interconnect devices, reports that it has completed the first closing of its second round of financing, raising $3.5m, bringing total investment in the start-up to $5m. Investors in the second round financing include first-time investor St Paul Venture Capital Inc, while Draper Associates and other first round investors came round again. This new round of funding provides working capital that will allow us to take advantage of current opportunities through additional applications engineering and increased sales and marketing activity; as well as continued development of our current product family to include both lower and higher input-output count devices. We are also pursuing development of a second product family with significant new functionality, the company declared.
