Chumby Raises $12.5 Million

Chumby Industries, a San Diego-based developer of a small personal device that provides information via wireless Internet, has raised $12.5 million in Series B funding. JK&B Capital led the round, and was joined by return backers Avalon Ventures, Masthead Venture Partners and O'Reilly AlphaTech Ventures.

PRESS RELEASE

Chumby Industries announced today it secured $12.5 million in Series B financing. The lead investor was JK&B Capital, and other participants included existing venture investors, Avalon Ventures, Masthead Venture Partners and O'Reilly AlphaTech Ventures (OATV). The Series B financing will be used to accelerate growth of the company, and expand and broaden the Chumby Network