Conduit Labs Receives $5.5 Million First Round For Online Gaming System

Conduit Labs has raised $5.5 million in a first round funding for a browser-based gaming destination that combines aspects of social nets and virtual worlds. The round was co-led by Charles River Ventures and Prism VentureWorks. Cambridge, MA-based Conduit Labs is currently operating in stealth mode and was created by Nabeel Hyatt, who began the company as an entrepreneur-in-residence at Prism’s offices. Hyatt was previously at MIT Media Lab spin-off Ambient Devices.

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