Calxeda, a relatively well-funded ARM processor startup that seemed destined for success, has run out of money and shut down.
"Carrying the load of industry pioneer has exceeded our ability to continue to operate as we had envisioned," Karl Freund, VP of marketing, and Barry Evans, president, said in a joint statement distributed to the media.
Lack of funding was the immediate cause. "[They] pulled the plug because they couldn't secure funding for a next round," said Pat Moorhead, principal analyst at Moor Insights & Strategy.
They had raised more than $90 million in venture … Read more