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Posts Tagged ‘more money’

More Money: Biotech, Social Networking, And Oil?!

Wednesday, June 3rd, 2009

-What is this, 1985? Roxi Petroleum raised $24.5 million this week, reports Reuters, proving that green technology isn’t all. The oil company is based in Kazakhstan.

-Proteon Therapeutics secured $12 million in venture capital funding late last week, according to the Kansas City Business Journal. The start-up, which is working to develop a blood vessel-dilating drug, has raised more than $84 million in VC to date.

-Modumental, an advances materials company, received a new round of funding that’s estimated between $1.5 to $2 million. The business makes a material that is stronger, but lighter, than steel called “nanolaminated structures.” The company will use this new round of investment to continue its research and development.

-SeatWave, a British firm that shills secondary tickets in Europe, closed $17 million in Series D funding, according to the Washington Post. Considered one of Europe’s fastest growing digital media companies, the company has had a 2203% jump in revenues over the past two years. No wonder they’re having no trouble attracting investors…

-Social networking/software start-up Cliqset landed $1.5 million in funding from an angel this week, reports the Jacksonville Business Journal. The company says they’ll use the money to further invest in technology and to add three full-time employees. Start-ups—making jobs!

-Sugar, Inc., a women-focused blog network, roped in $16 million in venture investment, writes the San Francisco Business Times. As part of the deal, the start-up also acquired Shopflick.com, a “video-powered fashion marketplace.”

-Grab Networks announced a $12 million round of debt and equity funding this week, reports RTT News. The site provides video content that web publishers can grab. The catch is that the videos, of course, come with advertising, which is where Grab makes its bucks.

-Estech, a start-up that makes cardiac surgery devices, raised $8 million in equity financing yesterday. This investment is in addition to the $11.3 million the company raised back in September. Apparently biotech isn’t hurt by the recession…

-Cloudera, an open source software-maker, closed $6 million in second round venture funding, reports the Silicon Valley Business Journal. The round of funding was led by Greylock Partners, with Cloudera’s earlier investors, Accel Partners, joining in.

-beeTV, a company that lets users create “personal content channels,” which can then be streamed through a box, mobile phone, or Internet, raised $8 million from Italy’s largest VC firm.

More Money: Solar, BioTech, Software Nabbed This Week’s Cash.

Wednesday, May 27th, 2009

-Cleveland Biolabs announced late last week that they secured $15 million in new venture capital investment, according to the Cleveland Business Journal. This new round of investment will go toward human trials of the company’s cancer-fighting drugs.

-Plastic Jungle, a start-up website where you can buy, sell, and exchange gift cards, received $8.4 million in Series A venture funding this week. The new investment will allow the company to hire several key executives and to continue growing the business, they say.

-UltraCell, a start-up that products fuel cells for mobile devices, announced $3.8 million in venture capital funding. The company says they’ll use the new investment to scale their manufacturing facility in Dayton, Ohio.

-Mark Logic, a software start-up for info-centric applications, raised $12.5 million in new investment this week, reports the San Jose Business Journal. This round of funding was led by Sequoia Capital (who, despite words to the contrary, still is investing) and will be used to help grow the company’s sales channels.

-Tigo Energy, a start-up that makes “photovoltaic solar installations” secured $10 million in second round funding, according to the San Jose Business Journal.

-Telesphere, a VoIP service, received $15 million in funding to expand into new markets, according to Arizona Central. So far the Phoenix-based company has secured more than $10 million in investment, bringing their grand total to $25 million.

-Ophthonix, a company that makes high-res lenses for glasses, scored nearly $30 million in venture funding today, reports the San Diego Business Journal. No word on how they intend to allot their new investment.

-And the big news of the week: as we reported on Tuesday, Facebook secured $200 million in investment from a Russian firm. Along with that, the company received a $10 billion valuation. If you’re Facebook CEO Mark Zuckerberg, we’re guessing it’s easy to forget that there’s even a recession on.

More Money: Games, Pharma, Blogs.

Thursday, May 14th, 2009

-DealBase, a start-up that helps travelers find cheapie hotel rooms, secured $1 million in angel funding late last week, reports the Washington
Post
. The company intends to use the fresh capital to create new products and launch its service internationally.

-Clean Emission Fluids, a start-up that creates biofuels and clean diesel systems, raised $100,000 in venture capital funding, according to MetroMode. The two-year-old firm received money from Automation Alley by way of the Michigan Economic Development Corporation.

-Another week, another ridiculously named start-up secures funding: SeeWhy, a company that provides website owners with real-time analytics, received $4.5 million in new venture funding.

-Casenet, a start-up that’s developed clinical care management software, has negotiated itself $5 million in venture capital funding. This new round of investment is the third round for the start-up, who last raised $7.5 million back in November ’07, according to Xconomy.

-OLX, the international classifieds site, has nailed more than $5 million in third round venture capital from an Indian firm, reports paidContent.org. The start-up, which bills itself as the “largest free-classifieds site no one’s ever heard of” has secured a total of nearly $29 million in funding to date. Not bad for a site no one’s ever heard of.

-Biotech start-up ZettaCore revealed that it raised $21 million in Series C funding, according to a press release. The start-up creates molecular materials and technology for semiconductor products. They say the new investment will aid with international expansion, as well as ramping up commercial production of their products.

-HauteLook, a members’ only shopping club, announced that it wrangled more than $10 million in venture capital funding this week via press release, although the exact figure wasn’t revealed. Despite lagging retail sales, company CEO Adam Bernhard says that the business is doing remarkably well. Given this new tranche of funding, we’re in no position to disagree.

-CerviLenz , a biotechnology company that makes a disposable tool that helps measure whether a particular woman is at greater risk for a preterm birth, raised $4 million in venture capital, reports Crain’s. The start-up, which currently has only one full-time staff member, says that the new funding will help hire additional staff.

-MoMinis, an Israeli-based start-up that creates and distributes casual games for mobile phones, received $1.5 million in first round funding this week. The start-up so far has been operating on $400K in seed capital, says VCCafe. That’s just changed.

-BlogHer, a women’s blog network, secured $7 million in Series C funding it announced yesterday. The new capital will help provide more tools for the 2,500 members of its blog network, according to the Silicon Valley Business Journal. The company’s total venture capital investment to date is now $15.5 million.

-Cempra Pharmaceuticals, a company that develops antibiotics for difficult-to-treat infections, has raised $46 million in venture capital, reports PEHub. The company will use the money to continue the clinical development of its primary antibiotic.

More Money: $183 Million This Week And Counting…

Wednesday, May 6th, 2009

-Free Wheel, a tech start-up, announced late last week that they’d closed $12 million in venture funding, reports the Silicon Valley Business Journal. The company says that its technology is intended to mitigate financial risks and operational complexities of video ad management.

-Fring, a start-up that provides a service allowing people to use IM, Skype, and other tools on their mobile phone, received a third round of capital late last week, reports paidContent.org. While the amount of funding was not disclosed, sources close to the deal say that it was similar to the company’s second round—which was $10 million.

-SDCmaterials secured $14 million in series B funding this week, according to PEHub. The start-up creates and produces advanced catalysts and other additives for automobiles that reduce toxic emissions. In not so many words, it’s a clean technology business. The company says they’ll use this new round of investment to continue work on its products.

-23andMe, the DNA-testing company owned by the wife of Google founder Sergey Brin, has secured $11 million in what’s expected to be a $25 million second round of funding. While Google was one of the company’s initial investors, they were joined this round by two other venture firms and biotech company Genentech.

-Sanovia, a start-up providing pharmaceutical management products and services to health providers, negotiated $8 million in venture capital funding this week, reports the Philadelphia Business Journal. The start-up will use the investment to expand its practice into new areas.

-Likewise Software captured $10 million in third round funding from its existing investors, according to PEHub. The start-up’s software helps businesses track computer networks.

-ExactTarget, an e-mail marketing services company, inked a $70 million financing deal with three venture capital firms this week, reports the Indianapolis Business Journal. The start-up nearly went public in December of ’07, but withdrew their offering and is currently waiting out the recession, according to sources.

-SVTC Technologies received $34 million in venture funding this week, according to AltAssets. The company provides development and commercialization services for silicon-based technologies, and raised the capital from its existing investors.

-Imeem, a site where users can stream music, recently secured a round of funding, reports VentureBeat. While the dollar amount is unknown, the company purportedly raised it in an effort to solve some of its cash flow problems. It may not have worked. The start-up is said to be still looking for more.

More Money: Airplane Turbines, Eye Devices, and Open Source.

Wednesday, April 29th, 2009

-Alethia Biotherapeutics, a start-up that works on creating therapeutic antibodies, secured $2.2 million in venture capital funding this week. Alethia says this round of funding will help them complete clinical studies that will help them finally bring their products to market.

-Orange County-based start-up ESP Corporation announced that they received $30 million in venture funding late last week, according to the Orange County Register. This was the second round of outside investment for the company, who makes software that helps companies reduce energy costs, as well as monitor their energy and carbon expenditures. They say they’ll use the money to purchase other firms and to continue developing new software products.

-Eucalyptus Systems, a start-up that supports open source for companies that want to develop their own cloud computing infrastructure, nailed $5.5 million this week, according to VentureBeat. The start-up says its platform has been downloaded more than 14,000 times since it’s launch last year.

-Visiogen, a start-up that makes eye devices, raised $40 million in funding this week, reports the Orange County Business Journal. The company’s main product is Synchrony, “a replacement lens for cataracts and people who have trouble seeing up close.” Visiogen says they’ll use this fresh round of investment to continue their global expansion. The company has raised a total of $80.5 million to date.

-Human resources software start-up Workday revealed this week that they landed $75 million in series E venture funding, reports ZDNet. It is one of the largest venture capital investments of the year.

-ETV Motors secured $12 million for its long-range hybrid engines this week, according to VentureBeat. The start-up makes what are effectively mini airplane turbines, which charge the batteries in plug-in hybrid cars more quickly and efficiently. This new round of investment for ETV will reportedly be given out in increments, as the company reaches various benchmarks and goals.

More Money: Green Is Good.

Wednesday, April 22nd, 2009

-Bluestripe Software, a start-up that makes application service management solutions, announced that they’ve secured $8 million in funding. They say they’ll funnel the new cash toward additional sales and marketing, as well as further product development. Bluestripe launched just this past September.

-Glycos Biotech closed $5 million in series A funding, reports Equity Help Desk. The start-up uses carbon sources to produce chemicals, and says they’ll use their new investment to hire fresh tech “talent” and to scale manufacturing. This round of funding was led by Silicon Valley super-firm Draper Fisher Jurvetson, as well as DFJ Mercury.

-Meru Networks, which develops wireless LAN infrastructure, nailed $30 million in a new round of private funding. The start-up, which was founded in 2002, didn’t say how they plan to use this fresh round of investment.

-Just in time for Earth Day, solar thermal start-up Ausra raised a whopping $25.5 million, reports the Business Insider. This newest round of funding is on top of the $100 million they’ve already raised from investors, who include Khosla Ventures, Kleiner Perkins, Kern Partners, and Starfish. Ausra has said they’ll direct this investment toward funding its new business plan, which it unveiled several months ago.

-Bright View, a start-up that makes a component for LED lighting fixtures, negotiated $4 million in venture funding this week, reports the News & Observer. The company says that this round of investment will help them increase the manufacturing and marketing of its main product, as well as another, new product that works in tandem with portable, battery-powered LCD displays.

greengood

More Money: The Newly Rich.

Friday, April 17th, 2009

-A123 Systems, a company that manufactures lithium ion batteries secured $15 million in funding from GE Energy Financial Services and GE Capital Equity, reports the Journal of New England Technology. The start-up says they’ll use the investment to hire more staff. Good news if you’re job-hunting in Michigan!

-ScanScout, an in-stream video ad network provider, received $8 million in funding this week. This is the third round of funding for start-up, and bringing their total investment to date to $15 million. No word on how they plan to use this fresh round of funding.

-Nuventix, a company that creates cooling devices for electronics, landed $8 million in funding this week. This round of funding is an extension of the $10 million the business raised last summer, and brings their total funding to $32.5 million.

-ExtraHop Networks, a start-up that monitors traffic within applications, raised $5.1 million in series A funding, reports TechCrunch. They say they’ll use the funding to continue product development and go-to-market efforts.

-Software-maker SignaCert nailed $8.8 million in second round investment, reports the Oregonian. They received the investment from the usual suspects—including Intel Capital—as well as a investor you don’t hear much about: In-Q-Tel, the venture capital arm of the CIA (?!).

-Nirvanix, an enterprise cloud storage provider, negotiated itself more than $23 million in funding this week. The start-up says they’ll use the fund to expand its enterprise cloud storage platform.

-Lycera, a biotech company that makes small molecule pharmaceuticals that treat autoimmune disease, received $10 million in funding, according to the Ann Arbor Business News.

-Goom Radio, an online radio company, landed roughly $16.6 million in funding this week. The start-up, which says it’s “reinventing radio for the Internet generation” will use the capital to launch its initial service later this year.

-Intel Capital’s been busy this week—along with funding Nirvanix and SignaCert, they also handed $4.1 million to MixerCast, a widget-based ad network, reports VentureBeat.

More Money: Business Plan Bragging Rights.

Thursday, April 9th, 2009

-As we reported earlier this week, Fisker Automotive took home the grand prize in venture capital this week. The company, which makes some pretty sexy green autos, raked in $85 million in venture capital funding. Which prompts us to ask again—as we did on Tuesday—recession, wha?

-Evident Software, a start-up that makes data performance-monitoring software, closed $1 million in funding from the New Jersey Economic Development Authority. The start-up’s current clients including American Express, Wachovia, and Fidelity Investments, reports the New Jersey Business Journal.

-Teradici, a start-up that’s developed a new technology called PC over IP (hey, it sounds cool), raised $17 million in series C funding, reports eWeek.com. The start-up currently works with companies such as IBM, Dell, and VMware, but says they’ll use this new capital to expand into the small and midsize business space.

-Southwest Windpower scored $10 million from GE Energy Financial Services this week. The company produces small wind turbines, which can produce enough energy to provide anywhere from 40 to 90% of a home’s electricity, depending on energy consumption and the availability of wind.

-Glam Media, an online content network geared toward women, announced Monday that they received $10 million in new capital from Mizuho Venture Capital, a subsidiary of a Japanese bank, according to Folio. While online ad networks have suffered as the result of the economy—and Glam is no exception—they say they’re continuing to grow, despite the doom and gloom. It’s believed that the company has received more than $100 in private financing to date.

-Socialcast, a start-up that provides SaaS for enterprises, raised $1.4 million in their first round of funding. That includes $1 million from True Ventures, and $400,000 from angel investors. Proving that investors love to throw cash a proven business model, Socialcast was actually a finalist for the 2009 TechCrunch Crunchie Award for “Best Bootstrapped Startup.” In other words, these guys have paid their dues.

-OPX Biotechnologies, a company that is working to improve the viability of biofuel chemicals, raised $17.5 million in third round investment, reports PEHub.

-Ethertronics, an internal antenna developer, received $4 million in second round venture funding, according to Xconomy. No further details were available.

-So what if no one’s shopping? Investors are still into luxury clothes maker J. Hilburn judging from the $4 million they threw at the company today. As VentureBeat points out, a custom men’s clothing company is a particularly odd place for a tech-focused venture firm to lay their money, it’s actually not all about the clothes. Hilburn has developed technology that’s intended to make a smaller, more efficient supply chain. Not such a strange investment after all.

Check back on Wednesday to see who scored funding next week!

fiskerauto

More Money: Funding Manna.

Friday, April 3rd, 2009

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.

-MicroTransponder, a start-up that develops wireless systems for patients in chronic pain, nailed $2.2 million in funding this week, reports Fox Business News

-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.

airsage

More Money: This Week’s Lucky Bunch.

Wednesday, March 25th, 2009

-Celerus Diagnostics, a start-up in the field of cancer diagnostics, announced $5 million in funding this week. They received the new investment—a third round for the company—from their existing investors, reports the Pacific Coast Business Times.

-This week’s bigger winner was medical device manufacturer Ardian who secured $47 million in new funding on Monday. Specifically, the company makes catheter-based medical devices to treat hypertension, according to the Silicon Valley Business Journal. While that’s about the least sexy product we can imagine, investors apparently dig it. Five investors were in on the deal.

-UpSpring Baby, a company that—you guessed it!—makes products for babies, roped in $4 million in new funding, says the Austin Business Journal. This is the third round of funding for the start-up who says they’ll use the investment to expand its sales offices and to continue product development. This brings their total investment to date to $6.6 million.

-FirstBet, a firm that makes software for insurance underwriting management systems, says they nailed $6 million in second round funding this week, reports the Boston Business Journal. We’d relay more, but as soon as we spotted the word “insurance” we fell asleep.

-LeisureLink, who makes a revenue management platform for specialty lodging suppliers (translation: vacation rental firms), raised $6.2 million in equity investment. They say they’ll use this infusion of investment to continue work on products like its booking engine and customizable timeshare resort rental programs. Still, does anyone find it peculiar that a company involved in the travel industry—a particularly hard hit sector—secured funding?

-Audience, a voice-proccessing software maker, received $15 million in new VC funding this week, says PEHub. That brings the company’s grand total to a whopping $60 million. As we understand, the company is developing technology that reduces other sounds while making it easier to hear the person you’re speaking with on mobile headsets.

-iPhone game maker Ngmoco raised $10 million in new venture funding, reports MacWorld. The start-up has published games like Rolando, Dropship, and Toople and is led by a former Electronics Arts employee. Ngmoco’s first round of funding came from the hallowed iFund, set up by Kleiner Perkins Caufield & Byers.

-Hunch, a start-up that operates what Reuters calls a “consumer-facing online decision engine,” secured $2 million in first round funding this week. Also securing their first round of funding is Blade Games, a company that provides game development systems and outsourcing. They raked in $4 million.

blade

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