Qualcomm QPrize Winner Gets New Funding

One of the companies recognized in Qualcomm's QPrize annual business plan competition has scored a series A funding, four years after being named a finalist in the Qualcomm effort. Singapore-based Capillary Technologies, a developer of mobile customer relationship management (CRM) tools, said it has raised $15.5M in a Series A venture financing round. The round was led by Norwest Venture Partners and Sequoia Capital, and also included Qualcomm Ventures, an existing investor in the company. Capillary was one of Qualcom's 2009 finalists for the QPrize; the firm is now based in Singapore, with offices in Palo Alto. The company says its customers include Pizza Hut, Puma, United Colors of Benetton, Mothercare, Robinson;s, Store21, Sunglass Hut and Nike. Qualcomm is based in San Diego. More information »