NICTA spin-out Open Kernel Labs attracts US$7.6m venture funding

NICTA, Australia’s Information and Communications Technology (ICT) Research Centre of Excellence, is pleased to announce that one of its spin-out companies, Open Kernel Labs (OK Labs), has secured a further US$7.6 million in venture funding.

The investment, from venture capital firms Chrysalis Ventures and Neo Technology Ventures, and also from enterprise application delivery company Citrix Systems, cements the company’s status as one of the world’s leading suppliers of embedded virtualisation software for mobile phones and broadband consumer-electronics devices.

“The team at OK Labs has worked very hard to achieve this result,” said OK Labs cofounder and Chief Technology Officer Dr Gernot Heiser. "This is a great endorsement of the OK team and the research that came out of NICTA. The strategic alliance with Citrix will help our technology to achieve its full potential, which goes well beyond virtualisation."

The company’s embedded hypervisor, OKL4, is already deployed in 250 million handsets and other mobile or embedded devices worldwide. “It is gratifying and inspiring to witness OK Labs’ continuing success,” said NICTA’s Chief Executive Officer Dr David Skellern. “The company’s ability to attract this level of venture funding in the prevailing economic climate is particularly impressive.”

Chrysalis Ventures led the round. Neo Technology Ventures increased its existing stake in OK Labs and Citrix Systems also made an investment. “With this investment, OK Labs is positioned to amplify our unique position as the only embedded virtualisation solution shipping on handsets today, solidifying its position as a key supplier to the supply chain driving the wireless ecosystem,” said OK Labs Chief Executive Officer Steve Subar.

Document(s): NICTA spin-out Open Kernel Labs attracts US$7.6m venture funding
Contact: Dorothy Kennedy
Phone: +61 2 9376 2098
Email: dorothy.kennedy@nicta.com.au