Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals

Is a caution flag flying? While U.S. venture firms refueled last year by raising a near-record $51.6 billion, they also eased off the throttle in terms of their investment activity during the first quarter of 2017, according to data released today by Seattle-based PitchBook and the National Venture Capital Association (NVCA). According to the latest … Continue reading “Slowdown Continues in First-Quarter VC Funding—and Top 10 Deals”

Stealthy San Diego-based Viracta Steps Into Light with $18.5M

Viracta Therapeutics, a San Diego anti-cancer biotech that has been operating below the radar for nearly two years, is today disclosing an initial closing on what could amount to as much as $18.4 million in Series B financing. Viracta plans to use the proceeds to advance its lead drug candidate into mid-stage trials for treating … Continue reading “Stealthy San Diego-based Viracta Steps Into Light with $18.5M”

Angionetics Nears Key Gene Therapy Trial for Coronary Heart Disease

Christopher Reinhard will tell you there is nothing unusual about the 20-plus years he’s spent getting an experimental heart therapy to late-stage clinical trials. “Very rarely will you get a short story on development of a drug,” said Reinhard (above), who is a principal investor and the CEO of San Diego-based Angionetics. Two decades “is … Continue reading “Angionetics Nears Key Gene Therapy Trial for Coronary Heart Disease”

Echo Raises $7.5M to Meet Big Orders for Hybrid Digital Microscope

Echo, a San Diego startup that has developed a digital, all-in-one microscope, says today it has closed on $7.5 million in a Series A round led by San Francisco-based Dolby Family Ventures and Southern California’s Tech Coast Angels. In a phone interview this afternoon, founder Eugene Cho (the E.Cho in Echo) tells me the three-year-old … Continue reading “Echo Raises $7.5M to Meet Big Orders for Hybrid Digital Microscope”

Mary Lou Jepsen, Moonshots, and the Human Impact of Innovation

As expressions go, “moonshot” has recently been gaining a lot of popularity in the media vernacular. Many folks assume that it arose with NASA’s Apollo 11 mission to the moon. But it’s a matter of debate. The Dickson Baseball Dictionary, for example, credits commentator Vin Scully for inventing the term to describe the soaring home … Continue reading “Mary Lou Jepsen, Moonshots, and the Human Impact of Innovation”

ViaCyte Working with Gore to Improve its Synthetic Pancreas Device

San Diego-based ViaCyte said today it is collaborating with W.L. Gore & Associates, the privately held company that makes Gore-Tex fabrics, medical devices, and other products, in a bid to improve its stem cell-derived treatment for diabetes. Under their collaborative research agreement, ViaCyte said it will work with Gore to develop a next-generation version of … Continue reading “ViaCyte Working with Gore to Improve its Synthetic Pancreas Device”

Former NASA Chief Sees Coming “Tidal Wave” in Machine Intelligence

Dan Goldin founded KnuEdge (initially known as Intellisis) in 2005 to realize his vision for neural-based computing—and to fundamentally transform the way humans interact with machines. As he puts it, “a tidal wave is coming. It’s going to be bigger than the Internet. It looks and feels like the early ‘90s—but better.” To get a … Continue reading “Former NASA Chief Sees Coming “Tidal Wave” in Machine Intelligence”

Intel Combines Global AI Work Under Former Nervana Systems CEO

Roughly seven months after Intel (NASDAQ: [[ticker:INTC]]) acquired San Diego-based Nervana Systems, the chipmaker is consolidating its portfolio of artificial intelligence businesses in one group, headed by former Nervana CEO Naveen Rao. Rao (pictured above right) will report directly to Intel CEO Brian Krzanich, spokesman Daniel Francisco said today. Rao plans to remain in San … Continue reading “Intel Combines Global AI Work Under Former Nervana Systems CEO”

Human Longevity Hires Data Scientist Away from Microsoft

David Heckerman, a computational biologist who led the genomics team at Microsoft over the last several years, has joined Human Longevity Inc. (HLI), the San Diego startup with the ambitious goal of creating the world’s most comprehensive database of human genomic information. Heckerman, a medical doctor with multiple degrees in computer science, physics, and mathematics, … Continue reading “Human Longevity Hires Data Scientist Away from Microsoft”

Esports Startup Cayke Wins Audience Vote at EvoNexus Demo Day

Cayke, a San Diego startup that has developed video editing software to automate the process of creating GIFs and highlight clips from long-running video game streams, was the top vote-getter of seven startups that presented at the EvoNexus Spring Demo Day. Karan Wadhera, Cayke co-founder and CEO, told several hundred attendees at the event last … Continue reading “Esports Startup Cayke Wins Audience Vote at EvoNexus Demo Day”

Murata Pays $68M for Arctic Sand, to Combine with Peregrine Semi

Japan’s Murata Manufacturing has acquired Arctic Sand Technologies of Burlington, MA, and plans to combine Arctic Sand’s low-power semiconductor technology with its San Diego-based subsidiary, Peregrine Semiconductor. The purchase price was $68 million, according to a Peregrine spokeswoman. Arctic Sand, an MIT spinout founded in 2010, has developed semiconductor technology that consolidates a number of … Continue reading “Murata Pays $68M for Arctic Sand, to Combine with Peregrine Semi”

Wrapify Q&A: Adhesive Giant Puts $3M in Car Advertising Schtick

After the adhesive products maker Avery Dennison (NYSE: [[ticker:AVY]]) recently made a $3 million investment in San Diego-based Wrapify, we tracked down Wrapify CEO James Heller, and stuck him with a few questions about the deal. Heller founded Wrapify in early 2015 with the idea of creating a business that would pay motorists to wrap … Continue reading “Wrapify Q&A: Adhesive Giant Puts $3M in Car Advertising Schtick”

Doing “Defense the Silicon Valley Way” Pays for Daylight Solutions

Startups that develop advanced military technologies often never come to light. But San Diego’s Daylight Solutions has managed to openly thrive in two very different markets. The company has advanced its specialized solid-state laser technology for customers in both the defense industry and commercial sector. Paul Larson, who co-founded Daylight Solutions with CEO Tim Day … Continue reading “Doing “Defense the Silicon Valley Way” Pays for Daylight Solutions”

Human Longevity Offers Genome Sequencing Through MassMutual

Human Longevity Inc., founded in 2014 by the gene pioneer J. Craig Venter to create a database for interpreting the human genome (and to make healthcare more proactive instead of reactive) said it has signed a partnership deal with MassMutual. Beginning today, San Diego-based Human Longevity plans to offer its whole genome sequencing service to … Continue reading “Human Longevity Offers Genome Sequencing Through MassMutual”

Larry Smarr Drives Innovation as Experimental Patient of the Future

In the years since he basically self-diagnosed his own Crohn’s Disease (before he had symptoms), Larry Smarr has served as a pioneer in the digital transformation of medicine and as an “n of 1” experimental patient in the emerging field of quantified health. Smarr came to San Diego in 2000 as founding director of the … Continue reading “Larry Smarr Drives Innovation as Experimental Patient of the Future”

CureMatch Uses Analytics to Rank Best Options for Cancer Treatment

CureMatch, a San Diego-based healthtech startup, says today it has created a Web-based platform that uses analytic software to help doctors sort through what can be a bewildering array of cancer treatment options. Selecting the right combination of drugs to treat a particular cancer can be one of the biggest challenges that doctors face, according … Continue reading “CureMatch Uses Analytics to Rank Best Options for Cancer Treatment”

Capital Stockpile Grows as Venture Fund-Raising Hits Recent High

In the venture capital business, a rising tide lifts all boats. That’s the idea, at least. A new report released today by Seattle-based PitchBook shows that U.S. venture firms have plenty of capital to invest in new companies, after 328 venture funds raised a total of $51.6 billion in 2016. That’s a high-water mark for … Continue reading “Capital Stockpile Grows as Venture Fund-Raising Hits Recent High”

Agtech Accelerator Radicle Recruits Industry Vets to Mentor Startups

Former Sapphire Energy CEO Jason Pyle is one of four agricultural technology veterans who have agreed to advise the startups taking root at Radicle, the San Diego-based accelerator focused on agricultural and food tech ventures. Radicle named Pyle, who is now the CEO of BaseHealth, a Silicon Valley healthtech developer of analytic software, as a … Continue reading “Agtech Accelerator Radicle Recruits Industry Vets to Mentor Startups”

Dermata Secures $10M in Combined Financing for Skin Treatments

[Corrected 2/17/17, 9:41 am to differentiate Silicon Valley Bank’s loan from private investment.] Dermata Therapeutics, a San Diego development-stage biotech advancing new treatments for rosacea, eczema, and related dermatological diseases, said it has secured $5 million in additional funding from private investors and entered into a $5 million credit facility with Silicon Valley Bank. The … Continue reading “Dermata Secures $10M in Combined Financing for Skin Treatments”

Join Us: Xconomy Forum on Innovations with Widespread Human Impact

Over the past 30 years or so, design theorists have promoted the idea of putting humans at the center of the process that innovators use to design everyday things. At the UC San Diego Design Lab, director Don Norman talks about the importance of studying and understanding how people are actually using something—whether it is … Continue reading “Join Us: Xconomy Forum on Innovations with Widespread Human Impact”

As Iraqi Immigrant, Bio CEO Sees Pros and Cons in U.S. Travel Ban

Noori Barka came to California on an H-1B visa in 1986 to work for Santa Monica-based Specialty Laboratories, a medical diagnostics company best known for its clinical testing services. Barka said he had just completed his doctorate in immunology in Belgium, and moved to America with his wife, Evelyn, and his son, David, who was … Continue reading “As Iraqi Immigrant, Bio CEO Sees Pros and Cons in U.S. Travel Ban”

Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries

Just as the NFL marketing machine is stoking the build-up to Super Bowl LI, a San Diego diagnostic company headed by a former Denver Broncos player has unveiled plans for a new clinical study of traumatic brain injuries among retired NFL players. Exosome Sciences, a subsidiary of San Diego’s Aethlon Medical (NASDAQ: [[ticker:AEMD]]), said today … Continue reading “Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries”

New StockTwits CEO Looks to Expand Share of Investor Community

If you do a Google search for AAPL, the stock ticker for Apple, the top search results are typically Yahoo Finance, Twitter, Google Finance—and StockTwits, a social media communications platform for Wall Street traders and active retail investors. After taking over roughly six months ago, StockTwits CEO Ian Rosen made one of his first strategic … Continue reading “New StockTwits CEO Looks to Expand Share of Investor Community”

StockTwits Buys Mobile App SparkFin to Extend Fintech Services

StockTwits, the Twitter-like social media platform for sharing stock market tips and ideas, has acquired San Diego’s SparkFin, a fintech mobile app for discovering and sharing stocks and other investment ideas. Financial terms of the deal were not disclosed. The common denominator in both companies is Howard Lindzon, the Wall Street trader and hedge fund … Continue reading “StockTwits Buys Mobile App SparkFin to Extend Fintech Services”

Startup Aims AI System for Safety, with Potential for Self-Driving

Over the past 25 years or so, San Diego has become a hub for innovation in telematics, and in providing technologies and services that enable long-haul trucking companies and other fleet operators to monitor the location and operation of their vehicles. Qualcomm (NASDAQ: [[ticker:QCOM]]) pioneered the use of satellite-based messaging and vehicle tracking technology in … Continue reading “Startup Aims AI System for Safety, with Potential for Self-Driving”

Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise

GoFundMe, the Redwood City, CA-based fund-raising platform for charities and nonprofits, has acquired CrowdRise, a Detroit, MI-based rival founded by entrepreneurs Robert Wolfe and Jeffrey Wolfe, and Hollywood philanthropists Edward Norton and Shauna Robertson. Financial terms were not disclosed in a statement issued Tuesday by GoFundMe. Brad Damphousse and Andy Ballester founded GoFundMe in San … Continue reading “Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise”

Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy

Correlation Ventures, a co-investing venture firm that uses analytic software to optimize its decisions, said today it has raised $200 million for its oversubscribed second fund. The firm, which has offices in San Diego, Palo Alto, and New York, said it now has $366 million in assets under management. Investors in the fund include college … Continue reading “Correlation Ventures Raises $200M, Maintains Its “Moneyball” Strategy”

VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals

Venture capital firms didn’t exactly take their foot off the accelerator, but the pace of VC investments continued to weaken in the three months that ended in December, extending a slowdown that began in July, according to two venture reports issued today. The deceleration followed a strong start to venture activity during the first half … Continue reading “VC Activity Continues Slowdown in Fourth Quarter, and Top 10 Deals”

Grail Raising $1 Billion To Fund Trials For Cancer DNA Test

Grail, the Menlo Park, CA-based startup unveiled last year by genome sequencing firm Illumina (NASDAQ: [[ticker:ILMN]]), plans to raise more than $1 billion from undisclosed strategic industry partners and other investors, according to a statement today from Illumina. The plans were first reported last month by Fast Company. Grail has hired Goldman Sachs to handle … Continue reading “Grail Raising $1 Billion To Fund Trials For Cancer DNA Test”

PvP Biologics Raises $35M in a Lab-to-Pharma Deal with Takeda

[Corrected 1/5/17, 8:07 am to show company was spun out of UW two months ago.] A San Diego-based startup spun out from the University of Washington just two months ago is today announcing a $35 million deal with Takeda, Japan’s biggest pharmaceutical. PvP Biologics was founded to advance KumaMax, a synthetic enzyme (depicted in the … Continue reading “PvP Biologics Raises $35M in a Lab-to-Pharma Deal with Takeda”

HLI Adds Cynthia Collins as CEO, Venter Moves to Executive Chairman

Human genome pioneer J. Craig Venter, who disclosed last month he’s being treated for prostate cancer, is moving into a new role as executive chairman at Human Longevity (HLI), the San Diego genomics startup he co-founded in 2013. Cynthia Collins, who previously led GE Healthcare’s cell therapy and purification and analysis businesses, is replacing Venter … Continue reading “HLI Adds Cynthia Collins as CEO, Venter Moves to Executive Chairman”

Edico Genome’s Deal with Dell EMC Fits Partnership Strategy

San Diego’s Edico Genome is now in its fourth year as a startup, and well into the hard slog of striking partnership deals, generating revenue, and building a business. Founding CEO Pieter van Rooyen started Edico with the idea of developing a specialized processor to accelerate the way genome sequencing data gets processed. Today Edico … Continue reading “Edico Genome’s Deal with Dell EMC Fits Partnership Strategy”

SD Venture Group Opens Bay Area Office as Part of “Cheeky” Campaign

The San Diego Venture Group has established a beachhead in San Francisco, and it’s opening for business Tuesday. After years of trying to persuade Silicon Valley venture capital firms to establish more of a presence in San Diego, or to at least hear more startup pitches here, the venture group has decided to open an … Continue reading “SD Venture Group Opens Bay Area Office as Part of “Cheeky” Campaign”

Organovo Discloses First Preclinical Data on Human Liver “Patch”

After taking the first steps toward the development of living human liver tissue “patches” for therapeutic use, San Diego-based Organovo (NASDAQ: [[ticker:ONVO]]) is laying out its pre-clinical data for the first time today. And the company says the results are promising enough to warrant further development of the technology. Organovo CEO Keith Murphy said in … Continue reading “Organovo Discloses First Preclinical Data on Human Liver “Patch””

San Diego Startup Raises $2.3M to Advance Enzymatic DNA Synthesis

Molecular Assemblies, a San Diego startup developing a new enzymatic method for synthesizing DNA, said today it has raised $2.3 million in a seed financing round. The funding will be used to hire more scientists and to advance the company’s development of enzymatic DNA synthesis technology, CEO Michael Kamdar said in an interview Friday. Molecular … Continue reading “San Diego Startup Raises $2.3M to Advance Enzymatic DNA Synthesis”

Gurnet Point Invests $92M in Crossover Health to Fund Growth

Cambridge, MA-based Gurnet Point Capital has invested $92 million in Crossover Health, a six-year-old company that provides membership-based healthcare services to employers that are self-insured. The funding is intended to increase the capital available for Crossover Health’s expansion and to buy out a portion of the company’s existing shareholders, the company said. The deal enables … Continue reading “Gurnet Point Invests $92M in Crossover Health to Fund Growth”

Germany’s Software AG Adds Analytic Tools with Zementis Buyout

Software AG, a German software giant with 4,300 employees, has acquired San Diego-based Zementis, a specialist in machine learning and data science. Financial terms of the deal were not disclosed, according to a statement Friday, after the acquisition closed last week. Zementis CEO Michael Zeller co-founded the company in 2004 to help customers glean new insights from … Continue reading “Germany’s Software AG Adds Analytic Tools with Zementis Buyout”

Connect Hands Out 10 Most Innovative New Product Awards

[Corrected 12/5/16, 9:35 am. Awards were made in 10 categories.] Connect, the San Diego nonprofit supporting local innovation and entrepreneurship, handed out its Most Innovative New Product Awards at a dinner last night in La Jolla—recognizing innovations that range from an inflatable satellite antenna to a mobile app for art museums. Volunteer entrepreneurs, investors, and … Continue reading “Connect Hands Out 10 Most Innovative New Product Awards”

AttackIQ, Which Makes Tools to Assess Cybersecurity, Raises $8.8M

San Diego-based AttackIQ, a cybersecurity startup providing a Web-based platform for assessing network defenses, has finally closed its Series A round of founding, after raising a total of $8.8 million over the past three years, according to co-founder and CEO Stephan Chenette. Institutional investors included San Francisco-based Index Ventures, Qualcomm Ventures, and Telstra Ventures. In … Continue reading “AttackIQ, Which Makes Tools to Assess Cybersecurity, Raises $8.8M”

When Innovation Is Not Enough: How GreatCall Has Grown Its Market

In the 10 years since David Inns joined San Diego-based GreatCall as CEO, he has seen a proliferation of innovative healthtech startups that are targeting baby boomers who are in or nearing retirement. A lot of these digital health companies are trying to connect with senior living communities, typically at events like the annual Aging … Continue reading “When Innovation Is Not Enough: How GreatCall Has Grown Its Market”

Cybersecurity Firm Proficio Raises $12M in Private Equity Round

Proficio, a Carlsbad, CA-based startup providing cybersecurity protection services for middle market companies, has raised $12 million in an investment round led by Kayne Anderson Capital Advisors. The Los Angeles-based private equity firm provided funding from its Kayne Partners Fund Group, which invests in high-growth technology businesses. Proficio, founded in Irvine, CA, in 2010, specializes … Continue reading “Cybersecurity Firm Proficio Raises $12M in Private Equity Round”

Sluggish Year for IPOs, But Signs Abound of Post-Election Surge

Uncertainty surrounding this year’s presidential election has kept U.S. IPO activity at a sluggish pace—so sluggish, in fact, that this year could end with the fewest IPOs and the lowest level of capital raised since 2009, according to PitchBook data for the first nine months of 2016. But this is no time to trash talk … Continue reading “Sluggish Year for IPOs, But Signs Abound of Post-Election Surge”

New U.S. “Roadmap” Lays Out Routes to Accelerate Robotic Technologies

Robotics technology is progressing faster than expected for self-driving cars, and drones are becoming ubiquitous throughout the United States, according to a lead scientist overseeing a robotics technology roadmap released last week. But robotics is moving slower than expected in some key areas, such as the development of dexterous gripper technology, intuitive user interfaces, and … Continue reading “New U.S. “Roadmap” Lays Out Routes to Accelerate Robotic Technologies”

Plug and Play San Diego Finds Home in New Downtown Works Space

Plug and Play San Diego has formed a partnership with Downtown Works, a new co-working space in downtown San Diego, which will give the local Plug and Play program a place to call home. Plug and Play San Diego, established in 2013 as a satellite of the Sunnyvale, CA-based incubator, has funneled 15 local startups … Continue reading “Plug and Play San Diego Finds Home in New Downtown Works Space”

Molecular Assemblies Names Michael Kamdar as CEO

Molecular Assemblies, a San Diego biotech founded three years ago to advance a new technique for synthesizing sequence-specific DNA, has named Michael Kamdar as CEO and director. Kamdar was previously a co-founder of San Diego’s Genoa Pharmaceuticals, and continues to serve as a director at Genoa and Cellana, a local industrial biotech. Kamdar has spent … Continue reading “Molecular Assemblies Names Michael Kamdar as CEO”

New Leader at Intel Capital Adjusts Strategy as Global Summit Opens

Intel Capital has identified 12 technology startups that have received a total of $38 million, highlighting its venture investment focus on innovations in self-driving cars and machine vision, the Internet of Things, sports and health, drones, and virtual reality. The recent funding deals that Intel Capital laid out in San Diego Monday, on the first … Continue reading “New Leader at Intel Capital Adjusts Strategy as Global Summit Opens”

Water Metering Startup Wins Vote for “Best Demo” at EvoNexus Event

A San Diego civil engineer who has developed an alternative technology for automating the measurement of water flow gave the best presentation at EvoNexus Fall Demo Day, an event that drew nearly 400 entrepreneurs, investors, and supporters late Thursday to Qualcomm’s corporate headquarters. Water Pigeon co-founder Sarp Sekeroglu got the most votes in a survey … Continue reading “Water Metering Startup Wins Vote for “Best Demo” at EvoNexus Event”

With $30M Infusion, Certona Aims for Bigger Share of Digital Retail

After raising $30 million, San Diego-based Certona said it is moving to accelerate its product development, expand its sales and marketing team, and improve its client services as an e-commerce technology vendor. If online retailing is one of the most tumultuous and fast-changing corners of the Internet, the growth of marketing technologies that retailers use … Continue reading “With $30M Infusion, Certona Aims for Bigger Share of Digital Retail”

Qualcomm Rolls Out First Commercial Use of Wireless EV Charger

Qualcomm (NASDAQ: [[ticker:QCOM]]), the San Diego wireless technology giant, announced in a blog item this week that its Halo wireless electric vehicle charging technology will be available commercially for the first time in 2017, with the mid-year introduction of the 2018 model of the Mercedes-Benz S550e. Daimler AG introduced its first plug-in hybrid model in … Continue reading “Qualcomm Rolls Out First Commercial Use of Wireless EV Charger”

California Accelerators Enroll Startups Targeting Cannabis Industry

[Corrected 10/13/16, 9:10 am. See below.] When California voters go to the polls on November 8, among the many issues they are expected to decide is Proposition 64. If a majority of voters vote yes, the initiative would legalize the recreational use of marijuana in the Golden State for adults aged 21 years or older. … Continue reading “California Accelerators Enroll Startups Targeting Cannabis Industry”