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The rupee slumped to a new record low of 56 to the dollar on Wednesday weighed down by global risk aversion, with the Reserve Bank of India's intervention earlier in the day seen as too mild to prevent further falls. Full Article
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Video conferencing firm Vidyo raises $22.5 mln
HELSINKI, Sept 22 |
HELSINKI, Sept 22 (Reuters) - Video technology start-up Vidyo said on Wednesday it has raised a further $22.5 million from venture firms to finance expansion of its sales and marketing activities.
Existing investors Menlo Ventures, Rho Ventures, Star Ventures and Four Rivers Group participated in the round, which was led by QuestMark Partners, it said.
"The video conferencing market will undergo exponential growth in the next five years and new market leaders will emerge," Tim Krongard, Partner at QuestMark Partners, said in a statement.
New Jersey-based Vidyo, which competes against larger rivals Cisco's Tandberg division , Polycom and Logitech's Lifesize , has raised in total $96 million since founding in 2005. (Reporting by Tarmo Virki; Editing by Muralikumar Anantharaman)
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