Oblong Raises $5.0M

Los Angeles-based Oblong Industries, the firm whose gesture and spatial-recognition technology was used in the "Minority Report", has raised $5.0M, in what looks like the first close of a $25.0M funding round, according to a regulatory filing from the firm this week. The firm's technology--originally developed at the MIT Media Lab--allows users to gesture with their hands to control software. Source of the new funding was not disclosed by the company. Oblong has previously raised funding from The Foundry Group. Oblong has not yet announced any details of the new funding round. More information »