Happy Friday, ladies and gents and others! No need to get binary here!
On this day, we bring you tales of venture capital, as per usual. We only have three big announcements for today, but two of them are hardware-based. One is a crowdfunding campaign for TechShop, an organization we non-neutrally love and write about a lot. You should read the story and give ’em a hand (we can’t; neutrality aside, we gotta keep our ethics).
Here we go!
Achates gets $35.2M
Internal combustion engine developer Achates Power raised $35.2 million from investors including Sequoia Capital Partners, RockPort Capital Partners, Madrone Capital Partners, InterWest Partners, and Triangle Peak Partners. The internal combustion engine might seem like a relic in these times of electric and self-driving cars. But Achates thinks it can make regular car engines a lot more efficient. Achates has raised close to $90 million in investment since the company’s 2004 inception. It secured a $19 million round in 2009.
TechShop is crowdfunding $3M
TechShop Menlo Park is raising $3 million, and it isn’t afraid to say it. The company filed a 506(c) with the SEC, which following the lift on the ban of general solicitation, allows startups to publicly announce that they are fundraising. VentureBeat got word that TechShop would take advantage of the new JOBS Act regulations on September 23rd, the day the lift went into effect. The organization announced that it would be seeking $60 million in funding to expand into new cities around the country. Read the full story on VentureBeat.
Unbxd unboxes $2M
Unbxd is a cloud-based product recommendation platform that provides search, navigation, and analytics solutions for ecommerce companies. Today, the startup announced it’s raised its first round of institutional funding: $2 million from IDG Ventures and Inventus Capital. “We already have some medium-large ecommerce companies partnering with us,” said a rep via email.