Report: LightPointe Raises Funding, Revives

The online publication Unstrung is reporting that San Diego-based LightPointe has raised new venture capital funding, and has emerged with a new management team. According to Unstrung, the firm was revived after looking for a buyer and filing for Chapter 11 when the firm's general manager, Cathal OScolai and a team of old and new employees put together a play for financial recovery. Reportedly the firm received new investment from West Coast Venture Capital and Exa Ventures. Calls to OScolai to confirm the funding were not returned as of press time. LightPointe is a provider of free space optics hardware. More information »