Redmond’s Action Engine Corp. gets a redo — and more cash

Action Engine has recieved another $10 million in funding, a quarter of it from its original investors, bringing the total amount poured into the company to $45 million. Action Engine has developed “an innovative technology that lets users of advanced cell phones access sports scores, driving directions, movie times and other information”. The latest cash injection will be used to market its products.

“No one would argue with the fact that the original target for their applications was based upon a set of assumptions that have not proven to be true,” said Waite, who invested in Action Engine through OVP Venture Partners in Kirkland.

Despite the unplanned need for more cash investors in the company are confident they will see a return soon, believing Action Engines has developed a good application and just needs to market it correctly.

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