Conduit Labs raises $5,500,000

Conduit collects $5.5M in first funding Conduit is developing technology for what it calls the social online-entertainment space Currently in stealth mode, Conduit Labs was started by CEO Nabeel Hyatt, who began the company as an entrepreneur-in-residence at Prism. Hyatt was previously vice president of strategic alliances at MIT Media Lab spin-off Ambient Devices Inc. in Cambridge