Mass. VC firms lead $48M data center funding

By Galen Moore

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Three Massachusetts venture capital firms have syndicated to co-lead a $48 million equity investment in Smooth-Stone Inc., a young, Austin, Texas-based data center technology company.

Battery Ventures of Waltham, Flybridge Capital Partners of Boston and Highland Capital Partners of Lexington joined ARM Holdings plc (Nasdaq: ARMH), Advanced Technology Investment Co. and Texas Instruments Inc. (NYSE: TXN) in the round.

The round will enable Smooth-Stone, which was founded in January 2008, to complete development and market delivery on technology designed to modify energy-efficient cell phone microprocessors for use in the data center. Battery, Flybridge and Highland will take board seats at Smooth-Stone, which currently has just 12 employees, according to Venturebeat.

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