openpeak

OpenPeak Raises $52 Million From Intel Capital And Others For iPad Rival

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OpenPeak, a company that develops multimedia touch-screen devices and device management platforms, has secured an additional $52 million of financing from Intel Capital, Horizon Technology Finance and Velocity Financial Group.

The company recently announced the OpenTablet 7, a portable, touch-screen device that is similar in many ways to Apple’s iPad. The investment from Intel isn’t surprising considering that OpenPeak’s device is based on Intel’s Moorestown platform. The tablet also includes thousands of apps for its platform and and the app ecosystem is completely Flash-based (as opposed to the iPad, which doesn’t support Flash).

OpenPeak says the funding will be used to expand product development and enter new markets. The company also develops a multi-media phones, set-top box, and home energy management applications.

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