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Investment, Credit Bring Cash to Two Austin Startups

AUSTIN-Salion Inc. and ClearCube Technology receive a precious commodity in these economic times, specifically in the high-tech arena. Salion nabs $10 million in second-round funding while ClearCube gets a $4-million credit facility.

By Tim Green | Updated on December 04, 2001

AUSTIN-Two Austin startups have gained access to cash, an increasingly precious resource for young companies. Salion Inc. received $10 million in second-round venture funding from previous investors Austin Ventures and its affiliate, AV Labs. Separately, ClearCube Technology Inc. received a $4-million credit facility from Comerica Bank.

Salion Inc., develops software for companies that supply goods to the auto industry, will use the money to expand its engineering, professional services and marketing and sales efforts. It also will try to move into the aerospace, defense and high-tech markets. Salion, located in the Perry-Brooks Building, 720 Brazos St. in the CBD, has raised a total of $15 million.

ClearCube will use its credit to support efforts to increase sales of its decentralized personal computer systems. The money comes in a $3.5-million revolving credit line and a $500,000 equipment credit line. ClearCube is located at 8834 N. Capital of Texas Highway in the northwest submarket.

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