A123Systems is ready for its close up — preps for tomorrow’s IPO
A123Systems is the name on everyone’s lips today as the most gabbed-about IPO of the week — maybe even of the last few months — preps to go live on the Nasdaq tomorrow morning as AONE. The Watertown, Mass., company made news yesterday, hiking its share prices. And today, industry analysts are stepping back, looking at what the sale might mean for other advanced energy storage companies hoping to follow suit.
A123 is of particular interest… Continue Reading
1366 Technologies launches solar cell with record efficiencies
1366 Technologies, maker of silicon-based photovoltaic cells that convert sunlight into electricity, says its new product, called the Self-Aligned Cell (SAC), has achieved disruptive rates of efficiency. The company says the cell will make using solar systems more affordable — and even cost competitive with coal.
The SACs (see image at right) have been consistently converting about 18 percent of the sunlight they absorb into useable energy. With the average efficiency for solar cells hovering around… Continue Reading
Xsigo raises funds for wireless data centers
Xsigo, maker of a device that virtualizes network connections in data centers, has raised an undisclosed amount of funding from North Bridge Venture Partners, Greylock Partners, Khosla Ventures and Kleiner Perkins Caufield & Byers, among others. The San Jose, Calif. company says its technology can drastically reduce the number of wires running through server farms.
Xsigo says the new money will be used to grow its sales and marketing organization. It already has 35 customers and… Continue Reading
Fring raises third round for cheap mobile phone calls
Fring, the maker of a free mobile application for activities like instant messaging and voice over Internet protocol (VoIP) phone calls, has raised a third round of funding.
The most compelling part of the London startup’s offering is its VoIP support. Basically, it means you can make phone calls through your phone’s data plan rather than using cell phone minutes. That, combined with the fact that the Fring app is free, can lead to big savings…. Continue Reading
Car battery maker A123 scores $15M more from GE
A123 Systems, maker of lithium-ion batteries — primarily for hybrid and electric cars — has nabbed another $15 million in funding from General Electric, marking the seventh time the conglomerate has invested in the capital-rich startup. This brings the total of A123’s recent round of financing to $69 million.
The Watertown, Mass.-based company says it plans to use the money to construct battery factories in Michigan close to its key automotive clients. These days, it’s rare… Continue Reading
Active Network acquires online campsite booker ReserveAmerica
The Active Network, a network of sites targeting athletic and active-lifestyle users, announced today that it’s buying ReserveAmerica, an online service for booking campground space across the U.S., for an undisclosed amount.
It was formerly a subsidiary of IAC, a conglomerate of interactive web-based businesses (including CollegeHumor, Vimeo and eVite), which agreed to hand over 100 percent of its stock in Reserve America Holdings in exchange for 3.5 million shares of convertible preferred stock in Active…. Continue Reading
Mavenir lands $17.5 million for mobile convergence
Mavenir Systems, a company that helps telecom companies evolve their networks to handle new calling options (like VoIP) and rich-media messaging, has closed a $17.5 million third round of funding. It plans to use the round to grow its market presence and continue developing its software portfolio. Its goal is to make accessing broadband connections easier for cell phone users — in turn, giving operators the chance to push a wider range of applications and… Continue Reading
SnapMyLife captures $5M for mobile photo sharing
SnapMyLife, a web site for sharing photos over cellular phones worldwide, reeled in $5 million in financing to roll out new product features and stretch its global reach. Owned by mobile content distributor Mobicious, the Needham, Mass. company hopes to capitalize on the popularity of photos on social-networking sites to bring in revenue from relevant ads.
The application’s users can not only make friends and share their photos (taken on their phone or by a digital… Continue Reading
Xtalic raises $10M for nanocoatings
Xtalic is a Marlborough, Mass. company that makes nano-scale material coatings based off the work of an MIT professor. The company has raised $10 million in a second round of venture funding.
Despite their high-tech origins, Xtalic’s coatings can be applied by customers through a simple electroplating process. The nanocoatings resemble chrome, and can be used for either decorative or protective purposes.
The funding was provided by Matrix Partners and North Bridge Venture Partners. A third investor,… Continue Reading
Virtual goods company Viximo offers online communities an alternative to advertising
With a recession looming, many online entertainment sites who currently depend on ad revenue are exploring a new source of revenue: Virtual goods.
Boston-based Viximo wants to make it as easy for publishers to earn money from selling virtual goods as it is to run ads on a website. And more profitable.
Viximo provides a plug-and play virtual goods platform that allows a publisher to offer their own version of Facebook Gifts, which are nice-looking graphical icons… Continue Reading
Sports site The Active Network raises $80 million, for more acquisitions
The Active Network, a company that offers sports community sites like Active.com, has raised an $80 million fifth round of funding, led by existing investor and strategic partner ESPN, with additional funding from venture firms.
The San Diego-based company offers a range of events, marketing and online community services based around participatory sports. It was founded in 1998 and tried to IPO in 2004 before pulling back. It currently makes most of its $102 million in… Continue Reading
Can you build a company around text messaging? Mozes says yes, with a big funding
Twitter isn’t the only company trying to build a big business off short messages. For text messages, or SMS, delivered via mobile phone, there’s Mozes, which says it’s ready to take the leading position in a growing marketing and communication business, and now has an $11.5 million funding (unearthed by peHUB ) to back up its claim.
Mozes is based off a simple idea, one that has barely changed since the company took seed funding two… Continue Reading
Document management company SpringCM raises $10M
DocExchange, a document management startup that does business under the name SpringCM, has raised $10 million in a second round of funding. It’s also opened a $4 million credit facility with Comerica Bank.
North Bridge Venture Partners led the round, and previous investor Foundation Capital also participated.
The San Mateo, Calif.-based startup has plenty of competitors, including EMC Corp., Oracle Corp. and Alfresco Corp., but chief executive Dan Carmel told VentureWire that SpringCM offers the product with… Continue Reading
MIT spin-out aims to make silicon-based solar competitive with coal by 2012
A series of manufacturing process improvements could make the cost of electricity from silicon-based solar cells comparable to today’s prices for coal generation within about four years, according to a company emerging out of stealth today.
The new startup, called 1366 Technologies, was founded by professor Ely Sachs based off advancements made in the labs of the Massachusetts Institute of Technology. The company has picked up a $12.4 million financing co-led by North Bridge Venture Partners… Continue Reading
Bungee Labs raises $8M for app development platform
Bungee Labs is a web-based development platform that allows developers to more easily build and release web applications. It entered into beta last May and is now fully open to the public.
The platform centers around Bungee Connect, in which applications are put together and tested. Using Connect is free; Bungee begins charging only for services used once the app is released for commercial use.
Several other services compete with Bungee at various levels, including Zoho Creator,… Continue Reading
Acquia raises $7M for Drupal platform
Founded only a few months ago, Acquia is a North Andover, Mass. startup that capitalizes on a content management system written by its co-founder in 2001.
The Drupal platform is an open-source product that can be used to create blogs, content portals, wikis and other Web 2.0 applications that could potentially compete with companies like WordPress. Acquia’s business will be in helping others set up their projects.
North Bridge Venture Partners led the $7 million investment, Acquia’s… Continue Reading
Battery company, A123 Systems, loaded with cash
Battery maker A123 Systems has secured its place as the most heavily funded battery startup, adding $30 million in its fifth round of funding.
Early this year, A123 broke $100 million. The Watertown, Mass. company, which is developing new lithium ion technology, already has some products on the market, mainly batteries for hand-held power tools. More importantly, companies like General Electric are considering its technology for use in upcoming hybrid vehicles.
A123 has shown itself to be… Continue Reading
Life sciences briefing: Monday, Oct. 1, 2007
Featured companies: Abiant, CellXplore, Diffusion Pharmaceuticals, WMR Biomedical, Zosano Pharmaceuticals
Diffusion Pharma raises $4.5M for vascular-disease and brain-cancer drug — Charlottesville, Va.-based Diffusion Pharmaceuticals, a biotech focused on drugs that enhance oxygen diffusion, raised $4.5 million in a private placement. Angel investors provided the funding, which brings Diffusion’s take to $10.2 million in equity and $2.6 million in government R&D grants.
Diffusion’s lead drug candidate — trans sodium crocetinate, or TSC — is designed to increase oxygen levels… Continue Reading
Active Network raises $65M for sports community site
The Active Network, a San Diego, Calif. sports community site, has raised $65 million in a fifth round of financing, according to PE Hub.
Canaan Partners led the deal, and was joined by fellow return backers like ESPN, ABS Ventures, North Bridge Venture Partners, Comdisco and Charles River Ventures. New investors included Performance Equity and Tao Venture Partners.
Active, San Diego-based online community and provider of application technology for active lifestyle/sports groups, once filed to go public… Continue Reading
Life sciences briefing: Thursday, Sept. 6, 2007
Featured companies: Cyntellect, Lectus Therapeutics, NeoMatrix, Nexstim, Pearl Therapeutics, Proteon Therapeutics, SupplyScape
(UPDATED at 10am PT: See below.)
Airway-disease specialist Pearl Therapeutics raises $15.5M — Redwood City, Calif.-based Pearl Therapeutics, a drug-formulation company focused on respiratory disease, raised $15.5 million in a first funding round. Investors included New Leaf Ventures, Clarus Ventures and 5AM Ventures.
Pearl doesn’t appear to have a working Web site yet, but according to its release, the company aims to treat unspecified airway diseases using “particle… Continue Reading