Aspiring platform holder Zeebo Inc. has raised $17 million in equity funding, according to an SEC filing.
The money will be used to fund the development of a "3G-connected digital entertainment and education platform" targeted at Asia, Latin America and other emerging markets.
Zeebo was originally announced as a cut-price games console at the San Francisco Game Developers Conference in 2009. It was funded by Qualcomm, and was scheduled to launch in Brazil that year.
"We've had a vision for a wireless videogame console targeted at the special economic and culturally relevant content needs in emerging markets for several years and we're excited to see Zeebo embark on this ambitious new venture," said Qualcomm's senior director of games and services at the time.
Zeebo Inc. is now working towards a 2012 launch for the platform.