Security software maker Ortega files for bankruptcy
Ortega Infosystems, provider of IP surveillance video systems, just filed for Chapter 7 bankruptcy protection, according to VentureWire. The Fremont, Calif.-based company seems to have been shuttered for a while now (its website has already been dismantled) and reported only $50,000 in assets and up to $100,000 in liabilities at the time of the filing.
Its previous investors included Harbinger Venture Management and Sycamore Ventures. Ortega last raised funds in December 2002, bringing in $11.8 million… Continue Reading
India joins the race for carbon credit investment
India has long trailed China in drawing foreign investment for cleantech projects. With prices in the energy and emissions markets surpassing historical highs, the venture capital community and Indian government are finally directing investment into Clean Development Mechanism (CDM) projects.
While India is currently the second largest host country of CDM projects with an average allocation of 31 million credits annually, investment in large scale reduction projects has been lacking since the establishment of the CDM… Continue Reading
U-Systems raises $16.5M for breast ultrasound systems
U-Systems, a San Jose, Calif., maker of ultrasound systems for breast imaging, raised $16.5 million in a fifth round of funding. The company, founded in 1997, markets its systems for the early detection of breast cancer, particularly in women with dense breast tissue.
Although based in Silicon Valley, the company has strong ties to Taiwan. Siemens Venture Capital led the round, joined by Sycamore Ventures, MDS Capital, Radius Ventures, Kinetic Capital, United Investments of Taiwan, President… Continue Reading