VCCircle

Techfarm Ventures, a US-based incubator and early stage investor in technology companies, has taken over Hyderabad-based IChip Technologies, a company that has developed a device that can double up as a TV and a PC.
Gordon Campbell, Chief Executive Officer of Techfarm, is also the CEO and Co-founder of Personal Web (PW) Systems, a company incorporated in the US. IChip, which has developed @Box, will now become a subsidiary of PWSystems. The financial terms of the deal are not known, however, Campbell told media that it would be "substantial". They plan to launch the product in India first and therefater in other countries.
This is the second investment in India by Techfarm Ventures. It had earlier invested in PortalPlayer, which went in for an IPO in 2004, and subsequently got bought out by nVIDIA in January 2007. Techfarm has earlier incubated more than a dozen companies such as the first Ethernet chip and graphics controller.