Livescribe Lands $7.5 Million for Pulse "Smart Pen"

Authored by Mark Hefflinger on March 30, 2009 - 7:15am.

Oakland, Calif. - Livescribe, the developer of a "smart pen" that features an on-board computer, announced on Monday that it has closed on a $7.5 million second round of funding, led by Aeris Capital.

The company last month announced an $11.1 million first round, from investors including Vantage Point Venture Partners and Lionheart Investments.

Oakland, Calif.-based Livescribe developed the Pulse smart pen, which features sensors and proprietary paper that let users record presentations aurally, as well as take notes that can be automatically transferred to a computer.

The company said that there is a community of 3,600 developers working on applications for its forthcoming application store.

Livescribe will use the new funds to help launch the application store, as well as for domestic and international expansion.

http://www.livescribe.com