Business Services Industry
Anacon Systems Signs $3.0 Million Funding Deal; Variable Speed AC Motor Controller Card Manufacturer Receives Second Round Financing by Spencer Trask Securities
Business Wire, Oct 19, 1998
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 19, 1998--Anacon Systems, Inc. announced today a $3.0M private placement offered through Spencer Trask Securities of New York. The variable speed motor controls company, incorporated in July 1997, received its initial funding of approximately $1.1M from private investors, including Cypress Semiconductor. Anacon Systems dspeed AC induction motor systems at cost parity with DC motor alternatives in addition to creating significant energy consumption savings for the end user. The new fund iand international regulatory requirements.
his network of over 3,000 sophisticated investoe market opportunity for their product. We all ational potential to create significant energy cs and software algorithms. These systems providAnacon Systems is privately held.
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