Tuesday, November 13, 2007

KoolConnect Raises $6.5 Million in Venture Capital - Needham, MA

KoolConnect Technologies, a Needham-based provider of digital in-room entertainment services to the hospitality industry, has raised $6.5 million of a planned $10.5 million round of venture capital. The investment was led by the Lewis Trust Group. Other investors include Arthur Wiener, a real-estate developer in New York City and Plough Penny Partners, a venture capital firm in New York. KoolConnect said it will use the funds for "a new wave of standard and high-definition media entertainment services to complement its video on-demand products."



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