According VentureWire reports, $750,000 in debt, right and securities has been brought in by the Palo Alto, California-based Ozmo Devices, the creator of software that generates “personal area” Wi-Fi networks encompassing individual computers.

Earlier in 2005, Ozmo Devices – managed by experts from semiconductor and wireless industry - brought in $12.5 million. The leading investors in the well-funded company include three top-notch semiconductor venture capital firms - Granite Ventures, Intel Capital and Tallwood Venture Capital.

The company - which was founded in 2004 as H-Stream Wireless, and surfaced from stealth in June last year – is engaged in providing wireless connections for keyboards, mice, headphones and game consoles. As per the company claims, its singular software can slash the hardware costs for companies, thereby saving them valuable capital.

Ozmo Devices’ ground-breaking, two-part, Wi-Fi compatible, communication technologies provide cost-effective wireless personal area network (WPAN) connectivity for devices operated by battery. The ultra-low power and extremely integrated Ozmo solution – the patent of which is pending - is perfect for wireless peripheral applications.

Leveraging a platform’s in-use Wi-Fi device, the Ozmo approach provides an advanced concomitant WLAN and WPAN functionality, which delivers unparalleled cost savings for systems developers. In addition, the unique convergence solves the problems related to integration and coexistence, which largely affect legacy WPAN approaches such as Bluetooth and proprietary technologies.