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Tech Incubator Betaworks Raises $20 Mill

  • GigaOm, Thursday, March 11, 2010 2:40 PM

New York City-based technology incubator Betaworks Studios has raised $20 million in new venture funding. Intel Capital and previous investor RRE Ventures led the current round, which included Softbank, Founders Collective, DFJ Growth, AOL Ventures and the New York Times.

The company had previously raised $8 million. Dreamed up by former AOL executives John Borthwick and Andrew Weisman, Betaworks has positioned itself as a sort of holding company that both invests in and operates Internet and digital media companies. Last January, for instance, it led a financing round worth $300,000 for popular Twitter client TweetDeck.

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