Mobile App Startup Red Foundry Nets $1.1 Million

Red Foundry has raised $1.1 million in a first round of financing from OCA Ventures and I2A Fund, Reuters reported. The startup develops technology that allows anyone to design and create mobile applications without needing to know programming code. The company is based in Chicago, and will use the money to expand its staff and to launch its technology, which is currently in beta testing.

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