Ineda Systems garnered new subscriptions and upped its offering to $22.07 million

Change: offered +13% / raised +11% / placed 90%

XDATA – September 8th 2014

ineda Ineda Systems‘ $19.6 million equity financing round increased by 13% to cap at $22.07 million. An additional $2 million worth of securities was placed by the company with two investors since the company last released data almost six months ago. This brings to $19.87 million the amount raised from the eighteen backers who subscribed to the offering. The subscription is structured to close once the 10% left is fully subscribed or in about a year at the latest. Up to now Ineda Systems had raised an estimated $12.03 million in unregistered securities via one financing round.

Ineda Systems markets and develops a low-power system on a chip (SoCs) for use in the fast-growing wearables and Internet of Things (IoT) market segment. The company is backed by Imagination Technologies, Walden International, Riverwood Capital, Samsung Catalyst Fund, Qualcomm Ventures and IndusAge Partners

The company is headquartered in Santa Clara CA. Ineda Systems elected to keep its revenues undisclosed.
The executive team includes Dasaradha Gude.

The company has raised an estimated total of $31.9 million via private unregistered security offerings.

Offering recap
Status: Intermediary close
Company: Ineda Systems
Industry: Other Technology
Amount offered: $22.07 million
Amount placed: $19.87 million
First sale: 08-20-2014
Data as of: 09-04-2014

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