AUSTIN, Texas-Teravicta Technologies Inc, which provides next-generation radio-frequency solutions for wireless devices, has raised $5.4 million in private funding.
Convergent Investors led the investing, with Agave Capital and Castletop Capital also contributing. Following the funding announcement, Teravicta reported Convergent partners, Brian Smith and Steve Shaper were named to the Teravicta board of directors. Smith is co-founder, chairman and chief executive officer of Crossroads Systems Inc. and will serve as chairman of the board. Shaper was previously CEO of TeleCheck Services Inc.
According to Smith, Teravicta appealed to Convergent for several reasons, including their quick deployment of wireless technologies and solutions and their knowledgeable management team.
