Is Sequoia jumping on the green-tech bandwaggon?
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Oorja Protonics, a secretive Menlo Park developer of alcohol-based fuel cells, has raised around $5.52 million in Series A funding, led by Sequoia Capital, according to a regulatory filing (scroll down). The company is run by Sanjiv Malhotra. It is significant because it is the first sign that Sequoia is pursuing alternative power/energy companies. Sequoia has been mum on green tech, despite the loud drum-beating by its cross-town rival, Kleiner Perkins. (Compare their priorities, as stated on their Web sites, here and here).
Update: Mark Wendman says he’s found links to the three patents by the inventor.
Update II: Rob Day suggests it may focus on battery replacement.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
