Oorja nabs $500K for methanol fuel cells
Oorja, maker of methanol fuel cells used to charge batteries for forklifts, pallet loaders and other industrial vehicles, has landed $500,000 in convertible promissory notes, according to a filing with the SEC. Methanol is an alcohol-based fuel that produces zero greenhouse gas emissions. Based in Fremont, Calif. the company markets primarily to large retailers and manufacturers, aviation companies, and distributors, like truckers.
According to the company, many companies in these sectors have taken note of the… Continue Reading
Silver Peak Systems draws $21M for WAN systems
Silver Peak is a heavily-funded Santa Clara, Calif. company that deals with wide-area network acceleration.
The company’s software aids server centralization by enhancing the performance across a WAN. Its clients include both large companies with branch offices and municipalities.
The $21 million funding is Silver Peak’s fourth, from Artis Capital Management, Benchmark Capital, Duff Ackerman and Goodrich, Greylock Partners, J & W Seligman, and Pinnacle Ventures. The company has taken a total of $63 million to date.
Sequoia keeps it in the family with Cast Iron
Cast Iron Systems, a Mountain View, Calif. company that sells “application integration appliances,” has raised $16 million in a fifth round of capital.
The funding is notable because it continues a surprising trend of co-investing between Sequoia Capital — one of the most respected, but secretive venture firms in Silicon Valley — and an obscure hedge fund called Artis Capital.
The two companies have declined comment on the relationship. But it’s widely known that David Lamond,… Continue Reading
YouTube’s spoils, Yahoo answers, Danger, fuddy US companies & more
The latest roundup of the action happening in Silicon Valley:
First evidence of YouTube wealth — What do you do with your money, when you get it? One way is to spend $20 million to buy Andre Agassi’s Tiburon estate. That’s what Stuart Peterson, of Artis Capital Management, an investor in YouTube, did, as PE Week’s Alex Haislip reports. Or you can invest it into night clubs, as some Web entrepreneurs have done.
Google Answers shuts down, while… Continue Reading