NextIO Secures $10 Million in Funding; Chip Enables New Blade Server Architecture, Dramatically Increasing Flexibility and Slashing Costs

AUSTIN, Texas--()--Dec. 15, 2003--NextIO, Inc., a chip developer for enterprise-class computer servers, today announced it closed a $10 million Series A funding round led by Adams Capital Management. Other Series A investors included JK&B Capital and VentureTech Alliance, a TSMC corporate investment fund management company. The funding will be used to expand NextIO's development efforts and engineering team, including the addition of several design and verification engineers.

"NextIO has attracted significant interest from the world's leading enterprise-class server providers," said George Ugras, General Partner, Adams Capital Management. "It's a testament to the unique technology solution the company has developed, which will slash costs across most performance points while enabling hot-plug maintenance and upgrades."

"The mid-range server market is the next major battle ground in the computer industry and every supplier wants to lead in this market," said K.C. Murphy, President and CEO of NextIO. "Our ability to attract both world-class investors and interest from the leading enterprise server market leaders helps validate the impact our products will have on the server industry."

NextIO, founded in January 2003, is currently developing its first commercial products. To date, NextIO has hired more than 18 people. The company plans to grow to 20 people by the end of this year and double its headcount by the end of 2004.

About NextIO

NextIO, Inc. is a developer of next-generation chips for enterprise-class computer servers. Led by a team of semiconductor veterans, NextIO is based in Austin, Texas and is a privately held company funded by Adams Capital Management, JK&B Capital and VentureTech Alliance.

NextIO is a registered trademark of NextIO, Inc. in the United States and other jurisdictions. All other company names mentioned are used only for identification and may be trademarks of their respective companies.

Contacts

NextIO
Gordon Burk, 512-439-5352 (Marketing)
Gordon.Burk@NextIO.com
or
Virtual PR Director
Karl Scholz, 512-474-1772 (Media)
karl.scholz@virtualprdirector.com

Contacts

NextIO
Gordon Burk, 512-439-5352 (Marketing)
Gordon.Burk@NextIO.com
or
Virtual PR Director
Karl Scholz, 512-474-1772 (Media)
karl.scholz@virtualprdirector.com