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Communications - Wednesday, September 12, 2007

3D's Canesta Raises $10M More

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Sunnyvale-based Canesta appears to have been ahead of its time. The startup sells 3D technology into various industries: automotive, security, factory automation and robotics. To date the company hasn't announced much in the way of clients (although a year back Honda announced it would use Canesta's technology) but it does need more funding to stay afloat. Canesta has secured $10M of a $24.4M Series D-1 round, says PEhub. Return backers include Apax Partners, Carlyle Venture Partners, Korea Global IT Fund and Venrock. The company had raised over $40M in total VC funding.

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