Cisco Systems, Inc., JAFCO Asia and TVP Invest in Avega Systems, Inc.

Avega Systems, Inc., announced that Cisco Systems, Inc., JAFCO Asia and Technology Venture Partners (TVP), have completed a US$7M Series B funding deal.
Avega Systems is a US entity with headquarters in Sunnyvale, CA and R&D based in Sydney, Australia. The company develops networked home entertainment technology platforms. The financing will fuel the growth of Avega Systems and accelerate technology development and marketing activities. The firm also plans to step up efforts in building strategic partnerships for its networked media distribution platform with established North American, European and Asian brand partners.

Avega is also pleased to announce that Dan Siazon, Senior Director of JAFCO Asia www.jafcoasia.com) and John Murray, Director and General Partner at TVP (www.tvp.com.au), will join the Company’s Board of Directors, as a result of the financing.

For the past three years Avega has been developing core technologies targeted at the connected digital home where networking is beginning to change the entertainment landscape. Avega’s Aios™ technology platform is aimed at enabling whole-home, multi-zone connectivity to content from a range of sources including Internet radio, media center PCs, portable media players, cell phones, legacy AV components, networked storage and set top boxes. The technology also solves problems associated with the control and management of the devices and content based on established and emerging wireless and wired networking standards, including Wi-Fi. Aios™ is being made available to established brand partners on an OEM basis.

“Our recent customer negotiations, award nominations at the last two International Consumer Electronics Shows and media recognition validate the opportunity and the company’s strong position in providing a complete end-to-end networked media connectivity solution for OEMs,” said Peter Celinski, Co-founder of Avega Systems.
“We are pleased to be supported by a global leader in networking technology. The financing continues the support provided by TVP in Avega’s Series A and the Australian government’s AusIndustry Commercial Ready funding program. It will allow Avega to help even more brand partners transition their product lines to include networked media connectivity.”

Avega was founded in 2004 and has 35 employees across the USA and Australia.