Daily News: August 23, 2012

ORIX Ventures Provides Fuhu With $10 Million Financing

ORIX Ventures, a provider of debt and equity capital for growing technology companies nationwide, and Fuhu, Inc., the creator of the nabi tablet, announced the closing of a $10 million venture debt financing.

“Fuhu, Inc. is redefining how children interact with technology in ways that are uniquely innovative and inspirational,” said Michael David, managing director and co-head of ORIX Ventures, the division of Dallas-based ORIX USA Corp that provides both debt and equity financing for growing companies. “We know there is incredible growth in the children’s technology vertical, and we are excited to support Fuhu, Inc. as it continues its category dominance in this dynamic market with the nabi 2 tablet.”

Fuhu, Inc. debuted the nabi 2 tablet last month. Built on Android 4.0, the nabi 2 is powered by the NVIDIA Tegra 3 Processor, which allows for a device that is incredibly stable, powerful, graphically superior and more.

“There is an incredible amount of both retail and consumer excitement for our nabi 2 tablet,” said Jim Mitchell, CEO of Fuhu, Inc. “This new investment allows us to further expand our innovative ecosystem of products and services, continue growing our company, and develop more quality partnerships to increase our global reach. We are thrilled to have the experience, creativity, and support of such an established partner as ORIX Ventures.”

ORIX Ventures provides customized financial solutions up to $50 million in capital per transaction to mid- and late-stage companies which have established customers and run-rate revenues of $10 million or greater.