ShareWave Inc, the digital convergence firm formed by a group of former Intel Corp and venture capital executives (CI No 3,324), has raised $10m in a third round of financing. Total funds raised to date by ShareWave now stand at $17.5m and investors include Microsoft Corp, Paul Allen’s Vulcan Ventures, APV Technology Partners, Softbank Technology Ventures, Draper Richards LP and, most recently, Cendant Corp (formerly CUC International). ShareWave is focused on developing products that help establish the home PC as the information furnace that centrally connects and controls computing power, digital information and digital appliances in the home through the creation of a wireless home network. The El Dorado Hills, California company plans to introduce its first product in the third quarter of this year. Three weeks ago, ShareWave appointed Jim Schraith as president and chief executive of the 60-person company (CI No 3,334). Schraith came to ShareWave from Compaq Computer Corp, where he served as vice president and general manager of the North American division.
