Asoka USA raises $7M for to turn electrical outlets into broadband connections
Asoka USA, a Foster City, Calif. maker of equipment that turns home electrical outlets into Internet broadband network endpoints, has raised a $7 million in a first round of capital.
The company says it has $6 million in revenue last year, but it must be losing money because the company’s valuation after the investment is only $15 million. Typically, if a company has revenue, it is valued at several times more than its revenue base. The… Continue Reading