Telegroup Inc, Fairfield, Iowa developer of the Telegroup Intelligent Global Network, reports that it received $20m from Greenwich Street Capital Partners Inc, a New York-based venture equity fund. Proceeds will finance development of Telegroup’s international communications network – the company reckons it is the sixth largest US provider of international telecommunications services. The financing was arranged for it by Smith Barney Inc.
3Dfx Interactive Inc, San Jose developer of three dimensional technology for games and other consumer applications, has raised $11.6m in its third round of venture funding.High profile corporate investors apparently joined the third round of funding, along with previous investors Norwest Venture Capital, Chase Ventures, US Venture Partners and Venrock Associates, but 3Dfx is not naming the corporate investors. It wants the funds to support its effort to extending its technology beyond the games enthusiast arena and into the consumer market. Its Voodoo Graphics chip sets is claimed to be the only three-dimensional technology for Windows that is also being deployed in the arcade. Consumer and coin-op arcade supporters include Acclaim Entertainment, Diamond Multimedia, Hewlett-Packard Co.
