Qualcomm Leads Investment In PowerCloud

San Diego-based Qualcomm, via its venture capital arm, Qualcomm Ventures, is the lead investor in a developer of software for applying cloud technologies to networks. Palo Alto-based PowerCloud Systems said it raised a $6M, Series B funding round, led by Qualcomm and also including existing investors Walden Venture Capital, Javelin Venture Partners and PARC. PowerCloud is a spinout of PARC. The firm's technology allows networking device providers to add cloud-based remote administration, hardware configuration, real time monitoring, and other features to their products. More information »