Tuesday, May 5, 2009

Mobile media developer Azuki lands $6M second round

By Galen Moore

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Azuki Systems Inc. said today that it has raised $6 million in a return second-round investment by investors Sigma Partners and Kepha Partners.

Formerly known as PeerMeta Inc., the Acton-based mobile software company launched in September of 2007 with $6.6 million in initial financing. That December, the company, founded by Cheng Wu, brought in former IBM Corp. (NYSE: IBM) executive and DataPower Technologies Inc. CEO Jim Ricotta as president and CEO.

Wu’s track record as a founder includes ArrowPoint Communications Inc. (acquired by Cisco Systems Inc. for $5.7 billion), Arris Networks Inc. (acquired by Westford-based Cascade Communications Corp. for $217 million) and Acopia Networks Inc. (acquired by F5 Networks Inc. for $210 million).

Azuki’s mobile platform is designed to provide rich media content, including video, and social sharing functions for the mobile device.

Kepha’s Jo Tango and Sigma’s Bob Davoli hold seats on Azuki’s board.