As you may have already heard today, March wasn’t such a hot month for the job market. But we’ll get to that later today. First, the good news: plenty of start-ups received healthy chunks of capital this week. Here’s who secured funding:
-Recession what? Biotech firm BioVex announced this week that they’ve secured $40 million in funding, reports the Boston Globe. This brings their total funding to date to $120 million. Bio Vex, which develops anti-cancer drugs, says they’ll use this new round of investment to fund phase 3 clinical trials of OncoVex, “a cancer-destroying vaccine,” that’s targeted for use with skin cancer patients.
-Livescribe, a company we wrote about a few months ago, has secured another round of funding, this time to the tune of $7.5 million, according to Yahoo Finance. The start-up, which makes a “smart pen,” has raised a total of $18.6 million in funding this quarter alone. That’s impressive by anyone’s standards.
-It’s not often we write about venture capital firms themselves raising capital, but it’s indeed how many venture firms support themselves in times of low liquidity (translation: right now). This week Charles River Ventures, a VC firm that’s invested in the likes of Twitter, raised $320 million. This is the firm’s 14th fund, according to VentureBeat.
-Pliant Technology, a start-up that develops enterprise flash drives, announced Monday that they secured $15 million in series C funding, reports RTT News. They say they’ll use the investment as working capital to support their growth. Who says you can’t grow in this economy?
-Pathway Medical Technologies, a biotech firm, announced Monday that they negotiated $40 million in series D funding from a group of at least five investors. The company develops treatments for peripheral arterial disease, and will use the new money to bolster their sales team and augment product development—the usual.
-AirSage, a company that uses cell phone data to map traffic flow and travel times, has secured $2.5 million in funding from angel investors in (oddly) Switzerland and Atlanta. So far the company has raised $15 million, and they say they’ll use this new round to boost sales, although they’re already doing quite well. They recently signed Google Maps as a client.