SOURCE: Fusion Garage

Fusion Garage

November 11, 2010 19:15 ET

Fusion Garage Announces New Round of Funding

SINGAPORE--(Marketwire - November 11, 2010) - Fusion Garage, designer and developer of touch screen computing devices, has closed its second round of funding -- $5M USD -- from current and new private investors based in Singapore. This brings the company's total investment to $8M+ USD. A third round of funding is expected to close by the end of this year.

The latest round of funding is being utilized for new product development efforts as Fusion Garage works to bring a new generation of products with multiple screen sizes to market during the first half of 2011. To support these development efforts, the company also recently more than doubled its staff and opened development centers in Bangalore, India and Nanjing, China. As part of the company's first round of funding, Fusion Garage received strategic investment from CSL Group to finance 100 percent of the manufacturing costs of Fusion Garage's touch screen computing devices. 

"Our investors are as committed to our vision as we are and have responded with this round of additional funding to help propel us into a new phase as a company," said Fusion Garage Founder and CEO, Chandra Rathakrishnan. "We remain focused on building our company and innovating in the consumer electronics market."

Fusion Garage's 2011 product generation will utilize a new operating system based partially on Google's Android.

For more information on Fusion Garage, please visit www.thejoojoo.com.

About Fusion Garage

Fusion Garage designs and develops innovative touch-screen-based computing devices. Founded in 2008, the company developed the industry's first Internet tablet based on the Fusion Garage operating system. Fusion Garage is based in Singapore and is privately funded. The company also has development centers in India and China.