Oakland, Calif. - LiveScribe, a developer of electronic pen and paper technology, has raised $22 million in its first round of venture capital financing, led by VantagePoint Venture Partners, PEHub.com reported.

Oakland, Calif.-based LiveScribe has developed a "smart pen" with sensors and proprietary paper that lets users record presentations aurally, as well as take notes that can be automatically transferred to a computer.

LiveScribe plans to sell its smart pen for under $200 when it launches in the first quarter of 2008.

Related Links:
http://www.pehub.com/article/articledetail.php?articlepostid=8361

http://www.livescribe.com