Hardware Startup Birdi’s New Seed Funding

Following to Venture Capital Dispatch data, CNRY Inc., better known as Birdi, has raised the amount of $700,000 in new seed funding round to improve better smoke alarm.

The company’s first product, still in a prototype and testing phase, is a “smart” smoke detector and air-quality monitor that communicates with and is managed by iOS or Android mobile devices.

The product bears more than a passing resemblance, and a similar idea, to another hardware startup—smart thermostat maker Nest Labs Inc., which Google acquired earlier this year for $3.2 billion.

Formerly known as Canary, Birdi took a new path to seed funding that is becoming increasingly common among hardware startups.

They drafted the concept for their device and affiliated apps at the CleanWeb Hackathon, where they took home a $1,500 prize. Then, they raised additional money, about $73,000 minus 4% in fees, through a crowdfunding campaign on Indiegogo.com.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Venture Capital Dispatch, CNRY Inc., Birdi, Smoke Alarm, iOS, Android, Nest Labs Inc., Google, Canary, CleanWeb Hackathon, Indiegogo.com.


CounterTack Banks $20M in Series B Funding

A Waltham, MA-based provider of solutions CounterTack has received the amount of $20 million in additional funding to close its series B financing round from Alcatel-Lucent.

Alcatel-Lucent (Euronext Paris and NYSE: ALU) made the investment and joined Goldman Sachs, the Venture Capital unit of Siemens (SFS VC), Fairhaven Capital, Razor’s Edge and OnPoint Technologies, the venture capital arm of the U.S. Army.

Led by Neal Creighton, president and CEO, CounterTack delivers the security platform CounterTack Sentinel, which allows the enterprise, cloud and service provider to protect endpoints by providing real-time, behavioral-based intelligence on attacker activity upon infiltration. The company recently announced its CounterTack CyberPath Partner Program to enable channel, alliance and MSSPs to distribute Sentinel worldwide.

Source: FinSMEs

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Waltham, MA, Massachusetts, CounterTack, CounterTack Sentinel, Alcatel-Lucent, Euronext Paris, Goldman Sachs, Siemens, Fairhaven Capital, Razor’s Edge, OnPoint Technologies, US Army, Neal Creighton, CounterTack CyberPath Partner Program.


Highest Quarterly VC Financing for Europe’s Startup

Following to Dow Jones VentureSource data, during the second quarter of 2014, startups in Europe have had a bumper few months, raising €2.1 billion (more than $2.8 billion) from venture capital investors, the highest quarterly total since 2001.

The influx of funding into privately held European companies echoes a similar investment boom in the U.S., where private companies raised $13.8 billion in venture capital in the same period, according to Dow Jones Venture Source. And it came at a time when world financial markets rallied in sync, with stocks, bonds and commodities all rising.

“People who wait for the right moment are probably all investing now,” said Michiel Kotting, a partner at Accel Partners, a venture capital firm with offices in London.

Venture capital investors say they are finally seeing more U.S. interest in European companies, after several companies went public with near-billion-dollar valuations, such as French advertising company Criteo, Finnish game maker Supercell and Swedish-Anglo game maker King Digital Entertainment.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Dow Jones VentureSource, Europe, European Startup, US, Michiel Kotting, Accel Partners, London, France, Criteo, Finland, Finish Game Maker, Supercell, Sweden, Swedish Game Maker, King Digital Entertainment.


Data Analytics Venture Peel-Works Raises $2M in Venture Capital

A Mumbai-based SaaS and big data analytics venture Peel-Works has raised $2 million (about Rs 12 crore) in venture capital from IDG Ventures India and Inventus Capital Partners.

Proceeds from the Series A round of funding will be used by the company, which is also backed by the Indian Angel Network, to further build its product and analytics platform, strengthen its management team and enter international markets.

“The two new key markets are the United States and south-east Asia, and we expect to have a present in these geographies in the next six to 12 months,” said Sachin Chhabra, founder and chief executive, Peel-Works.

The deal is the latest in a series of early-stage venture capital investments made in the country’s technology-focused startups over the past six months.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Mumbai, India, SaaS, Big Data Analytics Venture, Peel-Works, IDG Ventures India, Inventus Capital Partners, United States, South-East Asia, Sachin Chhabra.


Knowlarity Raises Rs 90-crore Led by Mayfield Fund

Gurgaon-based cloud telephony startup Knowlarity has raised the amount of Rs 90-crore led by one of the oldest venture capital firms in the US Mayfield Fund.

Existing investor Sequoia Capital also participated in the round.

Knowlarity will use the funds to go global and tap markets such as Southeast Asia, the Middle East and Latin America.

“I just signed the deal. It will help us in our international expansion and scale up research and development,” said Ambarish Gupta, 37-year-old chief executive of Knowlarity, which has now raised a total of about Rs 150 crore in three rounds. The new round has valued the five-year-old company at about Rs 300 crore.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Gurgaon, Cloud Telephony Startup, Knowlarity, Mayfield Fund, Sequoia Capital, Southeast Asia, Middle East, Latin America, Ambarish Gupta.


IDB’s Therese Turner Jones Says “Jamaica leads Caribbean in Local VC Market”

According to Therese Turner Jones, Inter-American Development Bank (IDB) Country Representative in Jamaica, Jamaica is the first Caribbean country to develop a venture capital industry.

“Other Caribbean countries can learn from what Jamaica is doing. The partnership that exists between the Development Bank of Jamaica and the private sector can be used as a model by other countries seeking to establish a venture capital industry,” she said.

Turner-Jones, who was speaking at a press conference hosted by the DBJ to announce the staging of the second annual venture capital conference in Kingston on Wednesday, express optimism about the growth of the venture capital market and said she looked forward to the IDB’s continued participation in the programme.

In February 2013, the DBJ signed a non-refundable technical co-operation agreement with the IDB through its Multilateral Investment Fund and as such are firm partners in the Jamaica venture capital programme, said a release issued by the DBJ.

Source: Jamaica Gleaner

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Therese Turner Jones, Inter-American Development Bank, IDB, Jamaica, Jamaica Venture Capital, Caribbean, Development Bank of Jamaica, Kingston, Multilateral Investment Fund.


Steve Collins Joins MuleSoft’s Board of Directors

Steve Collins has been appointed by MuleSoft, headquartered in San Francisco, California, provides an integration platform for connecting any application, data source or API, to join company’s board of directors.

Steve comes to MuleSoft with over 20 years of business management and financial leadership experience, including his previous roles as CFO of ExactTarget and NAVTEQ.

Steve led ExactTarget through its initial public offering in 2012. Prior to ExactTarget, he served as senior vice president and CFO of NAVTEQ Corporation, where he played a key role in the company’s IPO in 2004, followed by its secondary offering and the sale for $8.1 billion to Nokia Corporation in 2008. He has also held financial leadership positions at The Walt Disney Company, co-founded a technology-focused venture capital firm, and is an acting board member for several leading technology-focused startups.

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Steve Collins, MuleSoft, San Francisco, California, API, ExactTarget, NAVTEQ, Nokia Corporation, The Walt Disney Company.


Tim Draper is Taking Place at the Hashers United Conference

Tim Draper, an American venture capital investor and the Founder Partner of DFJ, is slated to participate in a keynote panel taking place at the Hashers United Conference.

The investor made headlines recently as the prevailing bidder in the United States Marshals auction for over 29,000 bitcoins worth nearly $18 million.

Those bitcoins, Draper said, would be used to establish a liquidity pool for the Vaurum, a bitcoin exchange designed for financial institutions.

“Bitcoin is a great alternative for some of these economies where inflation really saps the strength of a country’s economy,” Draper said on CNBC recently.

“I expect Pagos in Argentina, Pagatech in Africa, and in Mexico Coincove—all these companies will really thrive because people in those countries are not as confident in their own governments’ fiat currency.”

Source: newsBTC

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Tim Draper, DFJ, Hashers United Conference, United States Marshals, Vaurum, Bitcoin, CNBC, Pagos, Argentina, Pagatech, Africa, Mexico Coincove.


PRESS RELEASE: Perkins Coie Expands Emerging Company & Venture Capital Practice In Palo Alto

Addition of Arman Pahlavan Continues Growth of Firm’s California Practice

PALO ALTO, Calif.  (July 28, 2014) – Perkins Coie is pleased to announce that Arman Pahlavan has joined the firm’s Palo Alto office as a partner in the firm’s Emerging Companies & Venture Capital and Private Equity practice groups.  Before joining Perkins Coie, Arman was a partner with Squire Patton Boggs, where he was co-chair of the private equity and technology practice in Palo Alto.

“Arman adds to our strong and vibrant Emerging Company & Venture Capital practice here in Silicon Valley,” stated Chris Kao, Office Managing Partner for Perkins Coie’s Palo Alto office.  “He is an ideal fit for us bringing impressive experience and a terrific network of contacts in the local start-up community.  Arman’s practice in fund formation and private equity is also a great addition to our office.”

Arman advises venture capital and private equity funds and their portfolio companies.  He counsels entities on mergers and acquisitions, corporate finance, intellectual property transactions and fund formation matters.  Arman has extensive experience advising clients operating in the information technology, life sciences and energy technology industries representing clients based both in Silicon Valley and throughout the U.S.  He has served as counsel to various funds and represented public companies and foreign private issuers.  His fund clients have included Leucadia, Invesco Private Capital, Benhamou Global Ventures, Tomorrow Ventures and Vedanta Capital, among others.

“Arman is a great addition to our Silicon Valley emerging company practice and further strengthens our connections with the venture capital and private equity communities,” said Buddy Arnheim Co-chair of Perkins Coie’s Emerging Company & Venture Capital Practice.  “His industry experience in the technology and life sciences industries fits perfectly with our current industry focus.

Arman earned his J.D. from the University of California, Hastings where he was articles editor for the Hastings International and Comparative Law Review and received his B.A. from the University of California, Berkeley (Phi Beta Kappa).  He has been an active participant in life sciences, technology and energy industry symposiums and roundtables.  Some of the topics he has spoken on include smart grid investments, term sheet best practices and funding strategies for life sciences companies.  Arman has served on the boards of many Silicon Valley organizations promoting entrepreneurship and innovation.

Perkins Coie is a recognized leader in venture capital transactions, representing both companies seeking financing and venture capital firms seeking to invest.  The firm is the only law firm headquartered north of San Francisco with a broad practice representing leading venture capital firms.  Perkins Coie’s expansive network enables them to introduce clients to venture capital contacts, which, in turn, helps both the companies seeking funding and the venture capital firms seeking new investments.  Perkins Coie attorneys have handled thousands of venture capital deals.  Representation of both emerging growth companies and venture capital firms provide broad and deep experience negotiating and closing financing transactions quickly and efficiently.  As a full-service firm, Perkins Coie offers emerging growth companies counsel on a wide range of critical early-stage business activities, including structuring outsourcing arrangements, negotiating trade secret and non-compete agreements with employees, and developing key customer and vendor contracts.

The Perkins Coie Private Equity group has a leading practice in the representation of private equity funds and firms. The firm’s attorneys are experienced in all types of private equity transactions, from industry consolidations to leveraged buyouts of private and public companies.  The practice emphasizes middle-market transactions, typically involving companies with enterprise values up to $1 billion. In addition, the firm has a substantial practice dedicated to structuring and forming private equity funds, hedge funds, venture capital funds and real estate funds, and advising fund sponsors in connection with formations.

About Perkins Coie:  Founded in 1912, Perkins Coie has more than 950 lawyers in 19 offices across the United States and Asia.  We provide a full array of corporate, commercial litigation and intellectual property legal services to a broad range of clients, from FORTUNE 50 corporations to small, independent start-ups, as well as public and not-for-profit organizations.   For more information, please visit www.perkinscoie.com.


Cloud Company iTOK Raises $18M from Venture Capital Firms

Cloud-based software company iTOK, announced it has raised the amount of $18 million in series B round of equity financing led by a later-stage growth investor ABS Capital partners

The company will use the funds to expand marketing efforts, research new products and enhance existing products, they said in a statement.

As a result of the financing, ABS Capital general partner Laura Witt and principal Cass Gilmore will join the Company’s Board of Directors.

“Consumers and small businesses must navigate complex digital environments as our dependency on technology grows. They require sophisticated solutions and proactive service in order to have reliability and security,” said co-founder and CEO Seth Bailey. “iTOK provides solutions that combine technical expertise with excellent customer service. The ABS Capital team understands our industry and business, and we look forward to working with them as we continue to enhance our services and add more customers.

Source: Silicon Slopes

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Cloud Company, iTOK, ABS Capital, Laura Witt, Cass Gilmore, Seth Bailey.


Atox Bio Banks $23M Venture Capital Investment

Atox Bio, an Israeli company developing therapeutics for serious infections, announced it raised the amount of $23 million in new venture capital and strategic investment.

Israel-based Atox Bio, a developer of therapeutics for severe infections, said on Thursday it has raised $23 million in an investment round led by SR One, the healthcare venture capital fund of GlaxoSmithKline.

Lundbeck’s Lundbeckfond Ventures and OrbiMed Israel also invested.

The funds will enable Atox Bio to initiate a late stage clinical study of AB103, for the treatment of necrotizing soft tissue infections (NSTI), commonly referred to as the “flesh eating bacteria” and other severe infections. The study is expected to start in the second half of 2015.

AB103, an immunomodulator licensed from Yissum, the technology transfer company of the Hebrew University In Jerusalem, is a peptide that offers a unique approach in the treatment of infectious diseases by modulating, but not inhibiting, the host immune system.

Source: Reuters

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Atox Bio, Israel, SR One, Healthcare Venture Capital Fund, GlaxoSmithKline, Lundbeck’s Lundbeckfond Ventures, OrbiMed Israel, Yissum, Hebrew University In Jerusalem.


Fortus Medical Secures Investment from Brightstone Venture Capital

Fortus Medical, a startup that uses stem cells to promote bone growth and help spinal surgery patients heal, secured investment Brightstone Venture Capital, terms of the deal were not disclosed.

Minneapolis-based Fortus is led by med-tech industry veteran and entrepreneur CEO Bob Assell, who most recently founded venture-backed Zyga Technology Inc. Med-tech investors Dr. Andy Cragg and George Wallace founded Fortus.

Fortus’ technology could ultimately serve as an alternative to Medtronic Inc.’s controversial Infuse product, said Dave Dalvey, a Brightstone managing director. Fortus uses patients’ stem cells to spark bone growth, while Infuse relies on a protein product.

Brightstone typically invests between $500,000 and $5 million in startups. A regulatory filing shows Fortus raised $1.2 million in March and was seeking up to $3 million.

Source: Minneapolis / St. Paul Business Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Fortus Medical, Brightstone Venture Capital, Minneapolis, Bob Assell, Zyga Technology Inc., Dr. Andy Cragg, George Wallace, Medtronic Inc., Dave Dalvey.


Gary Parsons’ NextNav Raises $70M Series D

NextNav LLC, a new startup from XM Satellite Radio founder Gary Parsons, announced it has raised $70 million in Series D funding led by New Enterprise Associates and Oak Investment Partners.

The company specializes in location services indoors and in dense urban environments, where using GPS is not always possible. Anyone with a mobile device can use NextNav’s positioning technology to chart their location when a GPS signal isn’t available.

NextNav’s services are especially critical in medical emergencies. Safety-of-life applications like E911 can use the service to specify the location of an emergency. This may enable medical professionals to get to patients faster.

The company will use the new funding to improve its Metropolitan Beacon System (“MBS”) positioning network. The MBS network works similar to cellular phone networks, covering a wide area.

Source: VentureBeat

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, NextNav LLC, XM Satellite Radio, Gary Parsons, New Enterprise Associates, NEA, Oak Investment Partners, Metropolitan Beacon System.


Qualcomm’s $150M Venture Fund in China

Qualcomm, an American global semiconductor company, announced that it has launched a new $150 million strategic venture fund in China, which will invest in Chinese companies working on mobile technology.

The wireless technology giant discussed China at length during its earnings call Thursday, but the company’s venture arm has a different agenda than the mothership that funds it. “Our job is to say, ‘What’s the next wave?’ and then intercept that,” Qualcomm Ventures chief Nagraj Kashyap said. The new China fund is the largest of its kind for Qualcomm, which established a 100 million euro European fund in 2006 and a $100 million health-care fund in 2011.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Qualcomm, China, China Venture Fund, Mobile, Mobile Technology, Nagraj Kashyap, Europe, European Fund.


CounterTack Banks $20B in Series B Round from Alcatel-Lucent

Alcatel-Lucent has led a $20 billion in series B funding round for CounterTack, a pioneer in delivering real-time endpoint threat detection, context and visibility around targeted attacks.

Alcatel-Lucent joins CounterTack’s Series B investment syndicate, which includes leading organizations in both the Commercial and Federal sectors, including Goldman Sachs, the Venture Capital unit of Siemens (SFS VC), Fairhaven Capital, Razor’s Edge and OnPoint Technologies, the venture capital arm of the U.S. Army.

“As we rapidly expand IP networks to connect more users and devices at ultra-broadband speeds and automate cloud networking, we see the potential to enhance protection of our customers from advanced cyber security threats,” said Basil Alwan, president of IP Routing and Transport, Alcatel-Lucent. “We believe CounterTack’s innovative endpoint behavior analysis solution will enable our customers to effectively counter these stealthy, advanced threats within their own infrastructure and for their managed service customers. We’ve therefore made this equity investment based on CounterTack’s truly innovative approach which gives organizations real-time detection and forensic-level analysis unmatched in the industry.”

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Alcatel-Lucent, CounterTack, Goldman Sachs, Siemens, Fairhaven Capital, Razor’s Edge, OnPoint Technologies, US Army, Basil Alwan, IP Routing and Transport.


MassMutual Boosts Own Tech VC Fund with $100M

The amount of $100 million has been injected into Massachusetts Mutual Life Insurance Co.’s venture-capital startup to invest globally in fledgling technologies that leverage the Springfield insurer’s core life, retirement and asset-management businesses.

MassMutual Ventures LLC was formed in Boston, with a pair of seasoned venture-fund executives hired as prospectors, Doug Russell, MassMutual’s senior vice president for strategy and corporate development who manages the venture fund, said Thursday.

Newcomers Eric Emmons previously headed Siemens Venture Capital North America the last five years, while Mark Goodman started and ran two technology venture-capital funds, Terawatt Ventures and Brookline Ventures, both in Cambridge, Mass.

MMV will focus on investments in financial technology, consumer internet, digital health and cybersecurity, Russell said.

Source: Hartford Business

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, MassMutual, Massachusetts Mutual Life Insurance Co., Springfield, Springfield Insurer, MassMutual Ventures LLC, Boston, Doug Russell, Eric Emmons, Siemens, Siemens Venture Capital North America, Mark Goodman, Terawatt Ventures, Brookline Ventures, Cambridge, Massachusetts.


Intel Capital Leads a $10M Series B Funding Round for Intigua

Intel Capital, a venture capital and private equity arm of Intel Corporation, has led a $10 million series B funding round for Intigua, the first company to enable software-defined operations using advanced container technology.

Existing investors Bessemer Venture Partners and Cedar Fund also participated in the round, which brings the total invested capital to $21 million. Intigua will use the new monies to fund global sales, marketing and development of the Intigua Virtual Management platform, and accelerate its ability to execute on its software-defined operations vision.

This round follows a series of achievements for Intigua, including the coveted “Best of VMworld” award and a record 1H 2014 highlighted by the addition of several strategic customers, including a Fortune 500 technology company, one of the ten largest global banks, and the world’s largest IT systems integrator. Enterprises like these are turning to Intigua to accelerate workload delivery, improve application uptime and performance, and boost operational efficiencies across increasingly complex environments. By enabling software-defined operations, a concept Intigua coined to denote the ability to deliver systems management as a service at cloud scale, the company is ushering in a new era of IT operations.

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Intel Capital, Intel Corporation, Intigua, Bessemer Venture Partners, Cedar Fund, Intigua Virtual Management, Software.


Movius Interactive Corporation Raises $13M in Funding

Movius Interactive Corporation , the Atlanta-based global leader in mobile identities and converged messaging solutions, announced that has raised the amount of $13 million from a new Silicon Valley venture capital firm PointGuard Ventures.

New Enterprise Associates (NEA) and Anschutz Investments also participated in the round. Movius is the first mobile investment from PointGuard’s new fund, and will be used to fulfill and accelerate the company’s global expansion associated with their next generation mobile applications platform known as CAFÉ (Communication Applications Framework Engine) and myIdentities, a patented market-leading application.

“Over 150 global carriers have already partnered with Movius, and we have several major partnership announcements coming later this year,” said Dominic Gomez, CEO of Movius. “Our market leading CAFÉ platform and myIdentities application are providing new, seamless multiple identity management solutions on a single mobile device, and this round of funding will help drive both market growth and innovation velocity for us. It’s very rewarding to bring this prestigious group of investors on board to accelerate expansion and position the company for global leadership.”

Source: MarketWatch

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Movius Interactive Corporation, Atlanta, Silicon Valley Venture Capital Firm, PointGuard Ventures, New Enterprise Associates, Anschutz Investments, Mobile Investment, CAFÉ, Communication Applications Framework Engine, Dominic Gomez.


Global Market Targeted by 68% of Indian Mobile Entrepreneurs

Following to venture capital fund Helion Advisors survey released, markets outside India are being targeted by 68% of Indian entrepreneurs in the mobile space, while the remaining are optimistic about the India opportunity.

The survey that covered 100 entrepreneurs in the mobile category was conducted over two weeks—between 15 April and 1 May. Questions ranged from product development and global ambitions to hurdles that these start-ups face in the market.

The report points out that “mobile will be the single most important point from where information services are being consumed and data is being generated—a trend that is fuelling ambitions of Indian mobile start-ups…”

Among such entrepreneurs, about 70% said they plan to raise venture funding immediately to meet short- and long-term goals and as many as 78% said the next leg of growth will require up to $1 million in capital for the next six months.

Source: Livemint

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Helion Advisors, India, Indian Entrepreneurs, Indian Market, Mobile Entrepreneurs, Startup, Indian Mobile Startup.


LionBird Ltd. Leads a $4.6M Funding for PhysIQ Corp.

LionBird Ltd., a venture-capital firm in Evanston headed by former Abbott Laboratories executive Ed Michael, has led a $4.6 million funding for PhysIQ Corp., a spinout from Argonne National Laboratory.

Using a chest strap, which communicates via an Android phone app to PhysIQ’s database, a patient’s vital signs, such as blood pressure and heart rate, are collected and monitored. PhysIQ’s algorithms help doctors and nurses determine whether changes in the data warrant the need for treatment or a return visit.

The key is comparing patients’ data to their own baselines, not a static index for a broad group, such as all 50-year-old women.

“We compare you to you,” says Mr. Conkright, who founded the Naperville-based company a decade ago as VGBio.

He has chosen an opportune time to emerge from stealth mode. Two powerful market forces are colliding: Hospitals are being forced by the government and insurers to bring down costs and improve quality of care. And the market for wearable technology, such as Fitbits and smartwatches, is taking off.

Source: Crain’s Chicago Business

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, LionBird Ltd., Evanston, Evanston Venture Capital, Abbott Laboratories, Ed Michael, PhysIQ Corp., Argonne National Laboratory, Naperville, VGBio, Fitbits.


Vancouver Spends $900K to Attract Venture Capital Funds

In hopes of encouraging investment in local startup companies, Vancouver is spending the amount of $900,000 on a plan to attract venture capital funds to the city.

The allocation, which had not been previously disclosed, came at the end of a fractious city council debate over whether politicians had been given enough information about the need for the program and how it would be funded.

Several council members, confused over whether the city itself planned to invest in the fund, wanted the concept deferred until the Vancouver Economic Commission, which will run the program, puts together more details in coming weeks. The VEC’s report contained no budget but was a high-level look at how the city could benefit from encouraging venture funds to move here.

But in an effort to build support for the plan, Mayor Gregor Robertson at the last minute suggested a budget of “no more” than the $900,000, to be spent over the next three years. He sought to allay concerns that the money could find its way into a venture fund itself, saying it is meant only for marketing and advertising.

Source: Vancouver Sun

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Vancouver, Vancouver Startup, Vancouver Economic Commission, Gregor Robertson.


Sun Mountain Capital Managing Partner Says “Minnow” Investments “is Almost Nonexistent”

Sun Mountain Capital’s managing partner Brian Birk, reported that the current number of organizations focused on companies looking for smaller, “minnow” investments “is almost nonexistent.”

Instead, companies looking to put their footprint in Wisconsin must angle for venture capital funding from companies located on the coasts. Those companies are generally only interested in traveling to Wisconsin for major investments.

“Our goal is to get a lot of companies launched that will prove themselves in the marketplace,” Birk said, explaining that small investments between $400,000 and $800,000 could mean nearly 10 times as many new companies compared to a large-investment-only approach. “We want to make small investment increments that over time will win over the market and improve to where they can attract 10, 20, 30 million dollar investments.”

Source: Wisconsin Daily Independent

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Sun Mountain Capital, Brian Birk, Wisconsin.


Sofinnova Ventures Raises $500M Fund

Sofinnova Ventures, a firm that specializes in biotech and software investing, has exceeded its $425 million target to raise $500 million for its largest venture fund after.

Sofinnova surpassed its $425 million goal to reach the fund’s hard cap after seeing several companies go public or be acquired recently. They include ZS Pharma Inc., which went public in June, and Labrys Biologics Inc., which has just been acquired by Teva Pharmaceutical Industries Ltd.

Sofinnova Venture Partners IX LP is one of the largest health-care funds raised of late. Others include a $735 million fund that OrbiMed Advisors closed last year and Third Rock Ventures’s new, $516 million partnership.

In general, improved returns are propelling venture fundraising. Ten-year venture returns were 9.7% for the decade ended Dec. 31, according to Cambridge Associates. That was better than indexes such as the S&P 500 and Nasdaq, which came in at 7.4% and 7.6%, respectively.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Sofinnova Ventures, Biotech Investing, Software Investing, ZS Pharma Inc., Labrys Biologics Inc., Teva Pharmaceutical Industries Ltd, Sofinnova Venture Partners IX LP, Third Rock Ventures.


Airware Banks $25M in Series B Funding Round

Kleiner Perkins Caufield & Byers and includes current investors Andreessen Horowitz and First Round Capital, led a $25 billion in series B round for Unmanned Innovation Inc., doing business as Airware.

Airware is developing what it calls the Aerial Information Platform, a combination of hardware and software that will let people configure and repurpose Airware-compatible drones for any commercial application—precision agriculture, humanitarian aid, power-line inspections and so on.

So far, drone software has tended to be tied to specific commercial drones, which vary widely in how they’re used, or there are drone kits for hobbyists. 3D Robotics Inc., which has raised about $35 million from investors, is building a business in consumer drones.

Airware hopes to become a standard for commercial drones, like what Intel Corp. and Microsoft Corp. once were to PCs. The company aspires to build an “incredibly reliable” ecosystem of hardware, firmware and software that can also integrate with regulators and deliver data to insurance companies—a combination that founder and Chief Executive Jonathan Downey called “an incredibly complex set of problems” to solve.

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, First Round Capital, Unmanned Innovation Inc., Airware, Aerial Information Platform, Intel Corp., Microsoft Corp., Jonathan Downey.


New and Existing Investors Boost Synapsify with $850K

A group of new and existing investors invested the amount of $850,000 in Synapsify, the world’s first software based on emotional intelligence.

Of that total, $145,000 came from the Maryland Venture Fund. Also participating in the round were ICG Ventures — the venture arm of content distributor Ingram Content Group — as well as Middleland Capital, Standup Capital and D.C. area angels.

Synapsify, which last year raised an initial $600,000 in seed cash, will use the latest capital to support the launch of Synapsify Core, a web-app designed to help brands (and the agencies working for those brands) sift through the cacophony of written feedback to find meaningful commentary.

“Everybody is being exposed and overloaded with content,” CEO Stephen Candelmo told me Wednesday afternoon. “Instead of trying to distill it in terms of summarizing it, we’re taking the approach that only some of the content actually really matters, in terms of how people are expressing themselves, in terms of how people are writing.”

Source: Washington Business Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Synapsify, Emotional Intelligence Software, Maryland Venture Fund, ICG Ventures, Ingram Content Group, Middleland Capital, Standup Capital, DC, Synapsify Core, Stephen Candelmo.


Glow Digital Media Raises $7M in Series A from Venture Capitalists

Pair of venture capital firms Notion Capital and White Star Capital, led a $7 million in series A funding for socially-focused ad platform Glow Digital Media.

Founded in 2008 by Damian Routley and John Helstrip, Glow provides an online advertising platform which claims to allow brands to identify, target and transact with their most profitable customers on Facebook and Twitter using its proprietary technology.

Since launch the London-based start-up has grown rapidly, opening offices in New York and Singapore and amassing a number of high-profile clients including King, US Bank and Spotify.

It is one of Facebook’s fourteen Strategic Preferred Marketing Developers (SPMD), and one of eleven Twitter Marketing Platform Partners.

The $7m funding was led by leading European VC firms Notion Capital and White Star Capital, with participation from existing investors Project A Ventures and Avonmore Developments.

Source: Startups.co.uk

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Notion Capital, White Star Capital, Glow Digital Media, Damian Routley, John Helstrip, Facebook, Twitter, New York, Singapore, King, US Bank, Spotify, Strategic Preferred Marketing Developers, SPMD, Twitter Marketing Platform Partners, Europe, European Venture Capital Firm, Notion Capital, White Star Capital, Avonmore Developments.


Ananda Ventures Closes its Second Fund at €22.3M

Ananda Ventures, a Munich-based venture capital firm, announced it has closed its second fund Social Venture Fund II at €22.3 million.

The investor’s second fund had an initial target of €20m and a hard-cap of €22.5m. The amount raised is more than three times the €7.3m it received for the first Social Venture Fund.

Ananda began fundraising a year ago and held a first close on €16.4m in December 2013.

Investors:

The fund received commitments from 25 investors, including three institutional investors and two foundations, with remaining capital provided by family offices and private investors. Most of the backers are from the UK and Germany, and each invested a minimum of €500,000.

The largest investor in the vehicle is the European Investment Fund, which made its first investment from its Social Impact Accelerator fund, a €250m pot of money dedicated to social venture capital.

UniCredit and the HypoVereinsbank also invested, with the latter committing for the second time. It stated that it was “convinced of the sustainability of this investment approach”.

Source: unquote”

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Ananda Ventures, Munich Venture Capital, Social Venture Fund II, Social Venture Fund, Family Offices, UK, Germany, European Investment Fund, Social Impact Accelerator Fund, UniCredit, HypoVereinsbank.


Vanedge Capital Leads $3.5M Round for Privacy Analytics Inc.

Vanedge Capital, a Vancouver-based venture capital fund, has led a $3.5 million funding round for Privacy Analytics Inc., a world-renowned developer of data anonymization solutions.

Vanedge joins the BDC IT Venture Fund and the Ontario Institute for Cancer Research (OICR) as the primary investors in Privacy Analytics. V. Paul Lee, Managing Partner for Vanedge, will join the company’s board of directors. The funds will be used to increase Privacy Analytics sales and marketing efforts, as well as bolster development of its PARAT software product line.

“We are thrilled to be working with Paul and Vanedge, whose team brings deep expertise to help our company grow and scale,” said Khaled El Emam, Founder and CEO, Privacy Analytics Inc. “The funding enables us to accelerate building richer functionality into our PARAT product line, while expanding our efforts to enable companies to manage and govern the privacy and sharing of big data in healthcare and financial sectors.”

Source: DigitalJournal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Vanedge Capital, Vancouver, Vancouver Venture Capital, Privacy Analytics Inc., BDC IT Venture Fund, Ontario Institute for Cancer Research, OICR, Privacy Analytics, V. Paul Lee, PARAT, Software Product, Khaled El Emam.


AppDynamics Gets $120M in Venture Capital Boost

AppDynamics, an American privately held application performance management company based in San Francisco, CA, announced it has raised the amount of $120 million in venture capital, launching the company into the growing group of startups valued at more than $1 billion.

The company taps into the growing tendency of business to rely on software applications, meaning easy-to-deploy software that does not rely on major technology infrastructure overhauls, unlike traditional software from legacy providers.

Managing applications is evolving into a $4 billion to $5 billion global business annually, said Jyoti Bansal, AppDynamics’ chief executive officer, in its announcement.

While a number of consumer companies carry valuations topping $1 billion, few enterprise companies do. They include cloud-storage service Box, mobile-device management company Good Technology, data-management company Actifio, and storage-infrastructure company Nutanix.

Source: Reuters

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, AppDynamics, San Francisco, CA, Startup, Software Applications, Jyoti Bansal, Good Technology, Data-Management Company, Actifio, Nutanix.


Taulia Raises $27M in Series D Funding

Taulia Inc., a provider of cloud-based invoice, payment and dynamic discounting management solutions that revolutionize the way businesses interact and partner with each other, has raised $27m in Series D funding.

Now, thanks to a growth round from venture investors and recent validation from the federal government, the five-year-old startup is poised to get even bigger.

Taulia closed a $27 million Series D round at a valuation around $200 million, Venture Capital Dispatch has learned. QuestMark Partners led the round with participation from existing investors including Trinity Ventures, Matrix Partners, Lakestar and DAG Ventures.

Although the infusion comes a few weeks after President Barack Obama introduced a program to encourage large corporations to accelerate the pace of their payment schedules to small suppliers, investors say the SupplierPay program had nothing to do with the decision to back Taulia.

“It was a great surprise after the fact. But the company has a history of giving nice surprises so it’s par for the course,” said QuestMark Partners Principal Brian Matthews, who joins the Taulia board. “It’s a big validation of the market in general and the opportunity there.”

Source: Wall Street Journal

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Taulia Inc., Startup, Venture Capital Dispatch, QuestMark Partners, Trinity Ventures, Matrix Partners, Lakestar, DAG Ventures, President Obama, Barack Obama, SupplierPay, Brian Matthews.


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