eAsic takes $7M for integrated circuit technology
eAsic, provider of integrated circuit technology tailored to specific applications, has brought in $7 million of an expected $12 million round of convertible promissory notes, according to a filing with the SEC. Based in Santa Clara, Calif., the copany is backed by Advanced Equities, Crescendo Ventures, Khosla Ventures, Kleiner Perkins Caufield & Byers, and Evergreen Partners.
Force10 lands $30M for networking hardware
Force10 Networks, developer of 10-gigabit networking hardware, has raised $30 million in equity, according to regulatory filings. The San Jose, Calif. company previously raised $125 million in its last, sixth round of funding in 2007. Past backers include Advanced Equities, Crosslink Capital, Meritech Investment Partners, Morgenthaler Ventures, U.S. Venture Partners, Worldview Technology Partners and New Enterprise Associates.
Force10 provides routers and switches to web-based giants like Facebook and eHarmony to help them manage large volumes of… Continue Reading
MetricStream lands $2.5M for compliance software
MetricStream, maker of software and services for governance, risk assessment and compliance for businesses of all sizes, just brought in $2.5 million in debt financing, reports VentureWire. Based in Palo Alto, Calif., it builds solutions tailored to a variety of industries, including pharmaceuticals, food and beverage venues and energy utilities.
The recent funds came from Gold Hill Capital and Montage Capital. MetricStream’s previous investors include Kleiner Perkins Caufield & Byers, Integral Capital Partners and Advanced Equities.
Force10 and Turin merge, pool their capital and clients
Network builder Force10 Networks has merged with Ethernet services provider Turin Networks to create a powerhouse in both spaces, with an impressive list of clients, numbering 1,300 (including eHarmony and Facebook), reports peHUB. More significant than that is the marrying of two significant pots of venture capital. Since their nearly simultaneous founding a decade ago, Force10 has raised $400 million, and Turin $250 million.
Combined under the Force10 name, the new entity, based in San Jose,… Continue Reading
Force10 rolls out virtualization products
Force10 Networks, a developer of 10-gigabit networking hardware, will be launching a new line of products over the next half year to help companies set up automated and virtual networks. Currently, it provides routers and switches to web companies like Facebook and eHarmony, to help them manage large amounts of data over their local networks, reports VentureWire.
In this pursuit, Force10 faces a full field of competition including Woven Systems, Foundry Networks, Cisco Systems and Juniper… Continue Reading
Alien Technology raises $38 million for RFID technology
Alien Technology, a maker of tiny radio tags and readers, has a somewhat bumpy history. But now it’s back with a new round of $38 million in venture funding.
Back in 2006, without ever recording a profit and with losses exceeding sales, it filed for a scary IPO but was forced to pull it and then cut its worforce. It has burned through a whopping $302 million.
The new round is only slightly smaller than the $40… Continue Reading
Advances Equities takes its investors on a bad trip
It’s no secret that there are plenty of cowboy outfits in the venture capital world, including scores that were started before the tech bust. But in the weightier circles of late-stage venture investment, there’s supposed to be less risk, and therefore fewer seat-of-the-pants operations. Which makes Advanced Equities, a Chicago firm fingered by Forbes in a recent expose, all the more notable.
AE is run by a pair of former stock brokers, Keith Daubenspeck and Dwight… Continue Reading
Roundup: Former AOL execs face fraud charges, MetroFi throws in the towel, fingerprinters point fingers, and more
AOL execs add oddly, allege examiners — Eight AOL executives are facing fraud charges at the conclusion of a six-year long investigation by the Securities and Exchange Commission into alleged revenue overstatement of $1 billion during the company’s merger with Time Warner. Four of the men have already settled. Given the company’s historic performance, it’s surprising the remaining four haven’t gotten away with pleading incompetence. More at the WSJ.
MetroFi municipal WiFi throws in the towel… Continue Reading
Agami Systems takes $45M for network storage
Agami, a Sunnyvale-based storage company, has raised a further $45 million in funding, coming near to the $50 million we reported the might be seeking in November.
The company also has an option to extend the funding round, its third. Advanced Equities led, and was joined by previous investors New Enterprise Associates, Kleiner Perkins, APEX Venture Partners, Alta Partners, TIF Ventures and Duff Ackerman Goodrich, and new investor ITOCHU Corporation, as well as CEO David Stiles.
Agami… Continue Reading
Suniva, a solar photovoltaic maker, readies for production with $50M
A stealthy Georgia-based startup with plans to manufacture silicon-based solar cells unveiled itself this morning, announcing a hefty $50 million financing that will help it start production.
The company, called Suniva, says its cells operate at about 18 percent efficiency, near 50 percent better than the average cell produced today. CEO John Baumstark told us that there is a “clear roadmap” to boosting their efficiency over 20 percent within a year or two. Just as importantly,… Continue Reading
Agami raising $50 million — for yet another storage company
Agami, a Silicon Valley storage company with high-profile venture backing, is doing what any self-respecting company in the sector should do these days: Raise a large amount of money before the opportunity melts away.
The company confirmed to VentureBeat that it is negotiating to raise up another round of venture capital, with regulatory filings suggesting it could as much as $50 million. The company hasn’t completed the round yet. The company competes against an array of… Continue Reading
Turin Networks, telecom equipment maker, to bring in $50M more
Turin Networks, a Petaluma, Calif.-based telecom equipment maker, apparently is struggling, and looks to have taken between $26 million and $35 million financing at worse terms than previously.
Called a recapitalization round, this sort or refinancing typically lowers the value of the company, so that new investors have an incentive to invest. A lower value means they get a larger share of ownership for every dollar they invest.
VentureWire and PE Week report the different numbers today… Continue Reading
Alien Technology, struggling radio tag company, raises $33M more
Alien Technology, the company in Morgan Hill, Calif., that failed in its audacious effort to go public last year, has raised another $33 million in financing.
Alien filed to go public last year, while losing money on every sale of its radio frequency identification (RFID), and was forced to withdraw when markets wouldn’t support it. See our coverage here. Mark Perry, partner with NEA, a backer of Alien said in November he hoped to raise $50… Continue Reading
Infinera, optical networking company, files for IPO, at long last
Infinera, the Sunnyvale, Calif. fiber-optic equipment company that says its technology is superior to existing offerings, has filed to go public, submitting its registration with the Securities and Exchange Commission to raise about $150 million.
It isn’t profitable, but sales are showing momentum.
It brought in $44.3 million during the quarter ended Dec. 31, compared to just $4.1 million for all of 2005. The company had losses of $89.1 million for last year.
There’s a good summary of… Continue Reading