Chumby Takes $12.5M In Series B

San Diego-based Chumby Industires, which designs and develops a Linux-based gadget for connecting to Internet information services, said today that it has raised $12.5M in a Series B funding round. The lead investor in the round was JK&B Capital, and also included prior investors Avalon Ventures, Masthead Venture Partners, and O'Reilly AlphaTech Ventures. Chumby, which only just recently officially launched its products, said the funding will be used to accelerate growth ofthe company and expand its network. Marc Sokol of JK&B Capital will join the firm as part of the funding. More information »