Hillstone Networks to secure seed funding from InnoSpring
Apr 12, 2012 (Datamonitor Financial Deals Tracker via COMTEX) --
InnoSpring, a technology start-up incubator, has selected Hillstone Networks, Inc., a network security solutions company, for its seed program, a six-month boot camp. Both the parties are based in the US.
As part of the program, InnoSpring's InnoSpring Seed Fund will provide seed capital for selected startups. Through this program, selected companies will receive an initial investment of $0.02 million each upon admission into InnoSpring's Seed Program, with the potential to receive an additional $0.25 million in capital from TEEC Angel Fund upon graduation, bringing the maximum initial investment amount up to $0.27 million.
Concurrently, InnoSpring has also selected Dewmobile, Peaya, Accusilicon, Mugeda, Hillion Tech, Narvelous, QuestBid, SecuredInside, Sunube, Trusper and Weaver Mobile.
For these selected companies, InnoSpring will be offering a mix of services and support for its startups, including funding, mentoring, workshops, in-house resources like accounting, bookkeeping, and paralegal advisement as well as physical office space and professional services for both US and Chinese startups looking to increase cross-border development.
Deal Value (US$ Million) 0.02
Deal Type Venture Finance
Deal Status Announced: 2012-04-12
Target (Company) Hillstone Networks, Inc.
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