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March 07, 2007
Northzone Backing Swedish Xcerion For Web Coders
Northzone Ventures has invested $10M into Xcerion, according to several trade press reports. The deal seems to have been announced in early February in Sweden but came to our attention as a result of an article in InformationWeek. One of the first to report it as far as we could determine was e24.se.
This is a huge investment for early stage investor, Northzone -- it typically invests less than €4M in a first round -- especially because the company is set to market what sounds to us like software for developer's, not exactly a hot market for a startup. It must be the business model that makes it a venture capital target.
But we're just guessing and will check with Northzone to find out more but also because your a:c euro reporter is having trouble getting a line on what Xcerion has developed.
The reports we eyeballed say that Xcerion is planning on launching free code to enable developers to write web apps with, but then it also claims to make any computer your computer which makes it sound like one of those myPC-on-a-USB-stick kind of things, although it is offering the ability to carry your apps with you, not just your files, so it's like a virtual machine with deeper than usual control? We just don't know.
In the meantime, a couple of trade pubs have been mightily impressed by Xcerion, one of the pubs paid attention because some former Microsoft execs are early investors, and while Slashdot editors covered it too, their readers expressed skepticism because the news came out before the company had actually released any code, making it vaporware, in readers' eyes.
Read - Xcerion vill sprida gratis programvara (e24.se)
Read - Is it absurd to think ... (slashdot)
Read - Could a startup beat Microsoft and Google to market with a ‘cloud OS’? (ZDNET Foley blog)
Read - Xcerion's Internet Cloud Forms Over Google and Microsoft (informationweek)
Posted on March 7, 2007 07:37 AM | Posted to Software | Permalink
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