Next-Gen Remote Control Maker Hillcrest Labs Raises $25 Million

We're big fans of Hillcrest Labs' "Loop," a computer-mouse/Nintendo Wii-controller hybrid that promises to replace the half-dozen remote controls on your coffee table. Instead of trying to fit a million tiny buttons onto a universal remote, the Loop takes advantage of your hi-def TV by putting the remote's functions on the screen. Hold the Loop like a Wii controller and shoot at the function you want. It's a breeze.

The Loop hasn't hit shelves yet, but the company has raised another $25 million to fund its growth. New investor AllianceBernstein led the round; existing investors including New Enterprise Associates, Columbia Capital and Grotech Capital Group also chipped in more dough. CEO Dan Simpkins promises "multiple deals with major companies that plan to bring our technology to market in the near future." Release

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