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RICHARDSON - InnerWireless Inc., whose system of cables, antennas and base stations allows wireless-device gadgets to be used anywhere inside large buildings, has raised $12 million in second-round equity funding.
Some 34 accredited investors in New York, Tennessee, Texas and Wisconsin participated in the deal, which brings the total equity raised by InnerWireless since September 2001 to more than $38 million. In April 2003, the company also landed a $2 million loan from Comerica Bank-Texas.
Investors in InnerWireless include several local venture capital firms, among them Sevin Rosen Funds, Technology Associates Management Co. Ltd. and H02 Partners. New York-based Rho Ventures and Nashville, Tenn.-based Massey Burch Capital Corp. also are stakeholders.
A new backer of InnerWireless is Johnson Controls Inc. (NYSE: JCI), a Milwaukee, Wis.-based maker of environmental-control systems for commercial buildings,...