Digital Chocolate banks $13 million in new funds

Digital Chocolate founder Trip Hawkins has raised additional cash to fund development and expansion for his wireless gaming company. According to a filing with the Securities and Exchange Commission, the company issued shares of Series B convertible preferred stock to 23 investors. The offering netted the company $13 million.

The offering, which took place in July, marks the third time that Digital Chocolate has issued shares. Interestingly, part of the $13 million included a $1 million investment from an unnamed China-based investor.

Digital Chocolate raised close to $8.4 million in December 2003 by selling Series A preferred stock to outside investors, including Bob Pittman, a former executive of Viacom Inc.'s MTV and America Online Inc.

Hawkins was one of Apple Computer Inc.’s first employees, and he founded Electronic Arts in 1982. After leaving Electronic Arts, Hawkins started 3DO, which filed for bankruptcy protection in May of 2003.