Fuhu Closes $10M Venture Debt Financing with ORIX Ventures

Fuhu, Inc., an El Segundo, Calif.-based developer of an Android tablet for kids called nabi, has closed a $10m venture debt financing with ORIX Ventures.

The company intends to use the proceeds to further expand its innovative ecosystem of products and services, continue growing operations, and develop partnerships to increase its global reach. Led by Jim Mitchell, CEO, Fuhu debuted the nabi 2 tablet last month. Built on Android 4.0, the nabi 2 is powered by the NVIDIA® Tegra® 3 Processor and provides experiences to learn, play, grow, and synch content.
nabi 2 is available both online and in-store at Walmart, Best Buy and GameStop, and online at Target and Amazon for $199.99.

Founded in 2008 by Robb Fujioka and John Hui, Fuhu has other U.S. offices in Denver and San Jose. The company raised $15m in Series C funding in November 2011 (read here).



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