MMO game publisher Turbine raising $40M; former CEO launches Play Hard Sports
Turbine, a game publisher that makes massively-multiplayer online games but may soon be enacting a major strategic shift, is in the process of taking $40 million in new funding led by Granite Global Ventures, according to Dan Primack.
While its Lords of the Ring Online: Shadows of Angmar computer game franchise has found success, expectations are that the company will move toward the console market. Primack also speculates that it could be preparing to take a… Continue Reading
Granite Global Ventures expands to $600M for Chinese investment
Citing the need for consumer market investments in China, Granite Global Ventures has raised another $200 million for its third fund, which was originally closed off at $400 million in 2006.
Granite has traditionally invested in technology and emerging sectors, but plans on expanding to some sectors in China that are already well established in the United States. They won’t be alone; as we reported late last year, Kleiner Perkins has invested in a Chinese shirt… Continue Reading
Chip company Teranetics raises $25M
Teranetics, a Santa Clara, Calif.-based chip company, has raised $25 million in a fourth round of funding, PEWire reports. The company has raised $53 million since 2003.
The current round included Columbia Capital, Granite Global Ventures, Global Catalyst Partners, Venrock and U.S. Venture Partners.
Teranetics serves the 10-gigabit Ethernet copper channel market. Read our previous coverage here.
Life sciences briefing: Monday, Jan. 14, 2008
TODAY’S HEADLINES:
Autonomic Technologies raises $3M for neurostimulators (PE Hub)
Canopy Financial raises $15M for outsourced healthcare management (release)
Cancer-drug developer AmpliMed draws $5M (PE Hub)
Caprotec Bioanalytics receives €6M for protein-analysis tech (release)
ProtAffin draws additional €1.4M for anti-inflammatory drugs (release)
Toxicology-services firm Bridge Labs takes in $18M (release)
Dental-compound maker NovaMin takes in $2.2M (TechJournal South)
Aushon Bio takes in $4M for microarrays (PE Hub)
Treatment Online receives $750K for Web behavioral healthcare (PDF release)
IPO the Hospitalist aims to raise $60M with… Continue Reading
Boston Power charges up battery technology with $45M investment
Money has been pouring into battery and fuel cell startups of late, with companies like A123 Systems, Lilliputian Systems, and M2E Power (coverage here, here and here) raising funding ranging from single- to triple-digit millions.
Now another company has taken on a heavy round of funding: Boston Power, a firm that plans to concentrate its efforts on the laptop market with a battery that ages better than competing products.
One of the most annoying things about laptop… Continue Reading
Alibaba is China’s largest Internet IPO yet, continues China’s roar
Alibaba has raised US$1.5 billion in the biggest ever initial public offering by a Chinese Internet company, the Wall Street Journal reports.
It’s the biggest offering in Hong Kong’s IPO history, and drew capital from more capital from Asian investors than from those in Europe and the U.S., according to the report. It continues a remarkable trend of growth in Chinese comapnies. A few days ago, the New York Times’ Floyd Norris pointed out that China… Continue Reading
SuccessFactors files for IPO despite mounting losses
SuccessFactors, a San Mateo, Calif. company that provides online management tools for employee performance, has filed for an initial public offering to raise up to $125 million.
Top private investors include Greylock, which owns a 32.3 percent stake, TP Ventures, with 20.1 percent, Cardinal Ventures, with 9.2 percent; Canaan Partners, with 7.6 percent, Emergence Capital Partners with 6.7 percent and Granite Global Ventures, with 5.3 percent.
The company lost $12.6 million during the quarter ended March 31,… Continue Reading
Glu Mobile, mobile publisher, raises $84M in IPO
Glu Mobile, the San Mateo, Calif. mobile game publisher, begins IPO trading today.
It sold 7.3 million common shares, and they begin trading today at $11.50 per share. The company raised about $84 million, and is valued at $327 million.
Venture investors New Enterprise Associates, BA Venture Partners, Globespan Capital Partners, Granite Global Ventures and Sienna Ventures backed the company with about $57 million.
The company is still losing money.
Intarcia restarts with $50M for hepatitis, diabetes treatments
Intarcia, an Emeryville biopharma company developing treatments for hepatitis C and type 2 diabetes, said it has raised $50 million in round of financing to restart the company.
New Leaf Venture Partners led the round, which included Quilvest Ventures, and existing investors New Enterprise Associates (NEA), Venrock Associates, Alta Partners, Omega Fund and Granite Global Ventures.
The company has had a rocky past, underscoring the risks and expense of developing drugs. It withdrew a planned initial… Continue Reading
Bridge Pharmaceuticals, which helps pharma companies do drug research in China, raises $35M
Bridge Pharmaceuticals, a San Francisco company which lets pharmaceutical companies do pre-trial drug research in China, said it has raised $35 million in a third round of financing.
Granite Global Ventures led the round, which also included existing investors. Helen Wong, of Granite Global Ventures’ Shanghai office, has joined the board.
Earlier, Bridge raised at least $22 million from investors that included SRI International and WI Harper, among others.
Boston-Power raises $15.6M for lithium-ion technology
Westborough, Mass.’s Boston-Power, a lithium-ion battery technology developer, has raised $15.6 million in its latest round of funding.
PE Week first reported the news (sorry, can’t find link). New investor Granite Global Ventures led the round, which also included previous investors Venrock Associates and Gabriel Venture Partners.
Granite’s Thomas Ng joins company’s board.
Game publisher Glu Mobile files for $92M IPO
Glu Mobile, a San Mateo publisher of mobile games, has filed for a $92 million initial public offering.
The company, originally known as Sorrent (we wrote about them here), has raised around $57 million in VC funding since 2001 from BA Venture Partners, Globespan Capital Partners, Granite Global Ventures, NEA and Sienna Ventures.
Teranetics, a communications chip co., raises $20M
Teranetics, a Santa Clara chip start-up serving the 10-gigabit Ethernet copper channel market, has raised around $20 million in a third round of funding, according to PE Week. Backers include Venrock Associates, US Venture Partners, Portview Communications Partners, Granite Global Ventures, Global Catalyst Partners and Columbia Capital.
Vocera raises $7M more for wireless communication badges
Vocera Communications has raised another $7 million for its wearable Wireless communications badges, which let workers talk over distances via WiFi networks, VentureWire reports today (sub required).
The Cupertino company’s technology allows workers to press a button on a small badge, and ask for someone and the system recognizes who or what the worker is asking for, and makes the connection.
The company said it achieved a valuation above $100 million after the investment, and that the… Continue Reading
Granite Global raises $400M for third fund
Granite Global Ventures, a venture capital firm that has done much better than its relatively low profile would suggest, has raised a $400 million fund to invest fresh companies.
Granite has done well by investing in China early. It has offices in both Silicon Valley (Menlo Park) and Shanghai, and was an early backer of Chinese online trading site, Alibaba. It also invested in gaming company Xfire, sold to Viacom for $102 million in April.
The firm… Continue Reading