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Cornice Raises $97M

Longmont Colorado-based Cornice has inked $97M in venture funding, the company said Wednesday. The investment was led by Caisse de depot et placement du Quebec (Caisse), with participation by existing investors VantagePoint Venture Partners, BlueRun Ventures and BA Venture Partners. Cornice also said that it has inked a lending relationship with Hercules Technology Growth Capital, in the form of structured mezzanine debt capital. Cornice said that the funding will be used to support development and manufacturing of the company's micro hard drive technology, along with sales and marketing. Cornice is targeted the consumer electronics and mobile phone market with ultra-small, high capacity storage devices. The company's one-inch disk drives compete against flash memory for mobile phones, MP3 players, video recorders, and other portable storage applications. More information »