OpenCandy co-founder Darrius Thompson confirms in an e-mail that the San Diego-based startup, which operates a kind of online marketplace for open-source software, just raised $5 million in a series B round of venture funding, which was reported today by TechCrunch. The new $5 million round was led by Google Ventures, and in a winking … Continue reading “OpenCandy Gets $5M in Round Led by Google Ventures”
Author: Bruce V. Bigelow
VCs Add $10M to Imagine Communications
Digital video developer Imagine Communications, a five-year-old startup based in San Diego with R&D operations in Israel, says it has raised $10 million in a Series C round of venture funding from Columbia Capital, Carmel Ventures, and Court Square Ventures—all existing investors. The company, which has now raised more than $34 million, says the new … Continue reading “VCs Add $10M to Imagine Communications”
Confident Technologies Makes Its Debut in Restart of Vidoop’s Security Software
Curtis Staker tells me that Portland, OR-based Vidoop had a Web security idea that was just too good to let die. So Staker, a veteran software security executive, helped to acquire Vidoop’s assets in January, moved the software development operation to Solana Beach, CA, near San Diego, and today is launching the reincarnated business as … Continue reading “Confident Technologies Makes Its Debut in Restart of Vidoop’s Security Software”
San Diego’s Top 10 Venture Deals: Most of the Money Goes to Life Sciences
[Corrected 4/19/10, 1:00 pm. VentiRx Pharmaceuticals CEO Michael Kamdar says the company raised $25 million, not $12.5 million. See below.] The folks who count every leaf that falls off the money tree for venture-backed startups have graciously provided a breakout of the 10 biggest VC deals in San Diego so far this year. This list … Continue reading “San Diego’s Top 10 Venture Deals: Most of the Money Goes to Life Sciences”
Startup Automaker Aptera Gets Back in Gear, Streaming Video Companies Vie for Attention, MeLLmo Gets Better at Mobile Graphics, & More San Diego BizTech News
The noble cause of technology innovation is a great race. Just look at Aptera Motors, which appeared to be running out of cash last fall as it laid off much of its workforce. Now—after refueling with $10 million in VC funding—the Vista, CA, carmaker revealed plans to hire 500 people for its new assembly plant … Continue reading “Startup Automaker Aptera Gets Back in Gear, Streaming Video Companies Vie for Attention, MeLLmo Gets Better at Mobile Graphics, & More San Diego BizTech News”
Surveys Agree on Rising Tide of VC Activity, But Differ on the Ebb and Flow
After running the early returns on first-quarter venture activity, we got some additional perspective from other sources over the weekend that show an ebb of VC investments in life sciences startups and a surge in energy deals. All three VC surveys—from Dow Jones, MoneyTree, and CB Insights—showed an overall rising tide compared with the first … Continue reading “Surveys Agree on Rising Tide of VC Activity, But Differ on the Ebb and Flow”
For General Corporate Purposes: A Roundup of San Diego Startups Raising Capital
Startup companies have been busy raising capital over the past few weeks, which include some time when I was out of the country. In a bid to catch up, I’ve collected these recent deals to help you catch up as well. —Ambit Biosciences disclosed in a regulatory filing that it has raised $12 million out … Continue reading “For General Corporate Purposes: A Roundup of San Diego Startups Raising Capital”
Aptera Rolls Out Newest Model, Says It’s On the Road to Financial Stability
After lying low for much of the past year, startup automaker Aptera Motors of Vista, CA, said it has secured at least $10 million in VC funding and unveiled the latest version of its three-wheel vehicle—powered entirely by a battery from A123 Systems of Watertown, MA. At a media briefing staged yesterday in the hangar … Continue reading “Aptera Rolls Out Newest Model, Says It’s On the Road to Financial Stability”
Histogen Reports Lasting Effects In Small Study of Baldness Treatment
Few life sciences companies have gotten as much mileage from a pilot trial that enrolled two dozen patients as San Diego’s Histogen, a startup developing a variety of therapies derived from human cells that are grown in the laboratory. On the other hand, we have discovered at Xconomy that the appetite for news about potential … Continue reading “Histogen Reports Lasting Effects In Small Study of Baldness Treatment”
Venture Activity Report Charts Surge in Energy and Cleantech Investments, Smaller-Sized Deals
Venture investments continued to improve during the first three months of 2010, led by a strong comeback in both dollars and deals involving startups focused on energy and utilities, according to a national report released today by CB Insights, the New York private company intelligence firm previously known as ChubbyBrain. Venture firms sank $5.9 billion … Continue reading “Venture Activity Report Charts Surge in Energy and Cleantech Investments, Smaller-Sized Deals”
From Boston to San Diego, Companies Maneuver to Catch Online Video Wave
Apple’s recent launch of the iPad has triggered intensifying interest in online video distribution, which seems to be reflected in a string of announcements that coincide with today’s kickoff of the National Association of Broadcasters’ annual conference in Las Vegas. As if reminding everyone of the size of their network, Cambridge, MA-based Akamai Technologies (NASDAQ: … Continue reading “From Boston to San Diego, Companies Maneuver to Catch Online Video Wave”
Qlipso Acquires Veoh Networks, V-Vehicle Ousts Founding CEO, Local Technology Clusters Converge on Bioinformatics, & More San Diego BizTech News
With all the life sciences news in San Diego last week, it would be understandable if you thought there was no high-tech news to be had. A simpler explanation, though, is that I was out of the country. So I cast the net a little beyond Xconomy’s pages for this summary. —A shakeup at San … Continue reading “Qlipso Acquires Veoh Networks, V-Vehicle Ousts Founding CEO, Local Technology Clusters Converge on Bioinformatics, & More San Diego BizTech News”
MaxLinear Scores Successful IPO, $321M V-Vehicle Loan Request Rejected, Genomatica Raises $15M in VC Funding, & More San Diego BizTech News
It’s been a while since San Diego’s high-tech community saw this much deal news in one week—and most of it was good news, too. We gathered it all in one place for you here. —Investor demand helped boost Carlsbad, CA-based MaxLinear’s shares (NYSE:[[ticker:MXL]]) by 33 percent on their first day of trading, with volume of … Continue reading “MaxLinear Scores Successful IPO, $321M V-Vehicle Loan Request Rejected, Genomatica Raises $15M in VC Funding, & More San Diego BizTech News”
Heavy-Duty Hybrid-Electric Drive Maker Discloses its IPO—In Canada
Oops. In a debut that was largely overlooked by market watchers in San Diego and elsewhere, heavy-duty hybrid-electric drive systems maker ISE Corp. has announced its successful IPO last month on the Toronto Stock Exchange (TSX) under the ticker symbol ISE. The company, based in suburban Poway, CA, says its initial public offering of 3.45 … Continue reading “Heavy-Duty Hybrid-Electric Drive Maker Discloses its IPO—In Canada”
The Active Network Stops for Overhaul Following a Decade of Acquisitions
About as far back as I can remember, The Active Network usually has made at least one acquisition by this time of year. But it’s been a silent spring over at Active HQ in San Diego’s Sorrento Valley, where the venture-backed company develops software that customers use to manage recreational sports events, including online registration, … Continue reading “The Active Network Stops for Overhaul Following a Decade of Acquisitions”
Startup Automaker V-Vehicle Hits Roadblock After Government Rejects $321M Loan Request
Plans by the famed Kleiner Perkins VC firm, Google, T. Boone Pickens, and other investors to launch a new automaker are now hanging by a thread. The Department of Energy has rebuffed San Diego-based V-Vehicle’s request for more than $321 million in loans—throwing into jeopardy the automaker’s ambitious plans to build an “environmentally friendly” car. … Continue reading “Startup Automaker V-Vehicle Hits Roadblock After Government Rejects $321M Loan Request”
KidZui Caps Significant Progress in Difficult Year with $4M in Fresh Funding
KidZui’s founding chairman and CEO Cliff Boro called me from the airport last night to confirm recent reports saying that the San Diego startup, which has been developing a kid-friendly Internet browser, has raised $4 million in additional venture funding. The four-year-old startup launched its KidZui browser (which is a Firefox add-on) in 2008, and … Continue reading “KidZui Caps Significant Progress in Difficult Year with $4M in Fresh Funding”
Genomatica Raises $15M to Build Demo Plant For Sustainable Chemical Production
We’ve been waiting for this one since last summer. San Diego-based Genomatica is announcing today it has raised $15 million in a Series C venture round led by a new investor, TPG Biotech, to build a demonstration plant to make a common industrial chemical through a renewable technique, and to develop a bigger pipeline of … Continue reading “Genomatica Raises $15M to Build Demo Plant For Sustainable Chemical Production”
First-Day Trading Lifts MaxLinear Shares 33 Percent Above IPO Price
Eager investors boosted the stock of Carlsbad, CA-based MaxLinear (NYSE: [[ticker:MXL]]) by more than 33 percent today in the company’s debut, with shares closing at $18.70 in first day of trading of nearly 6.9 million shares on the New York Stock Exchange. Last night, MaxLinear’s IPO underwriters increased the offering to 6.4 million shares (from … Continue reading “First-Day Trading Lifts MaxLinear Shares 33 Percent Above IPO Price”
San Diego’s Xpenser Touts Free Web and Mobile-Based Expense Tracking
At the end of his presentation late yesterday at the DEMO Spring 2010 conference in Palm Desert, CA, Parand Tony Darugar said that when he returns to San Diego following the three-day event, “I will have no receipts in my wallet, and I won’t have to do an expense report.” That’s because he uses Xpenser, … Continue reading “San Diego’s Xpenser Touts Free Web and Mobile-Based Expense Tracking”
Facing Job Exodus, San Diego IT Execs Launch Council on Globalization and Competitiveness
IT executives from some of San Diego’s better-known employers, including Amylin Pharmaceuticals, Sony Electronics, and Broadcom are banding together to find new ways to retain local IT jobs and to counter the effects of foreign outsourcing. The formation of a new regional business group, the San Diego-based Industry Council for Competitiveness and Globalization (ICCG), comes … Continue reading “Facing Job Exodus, San Diego IT Execs Launch Council on Globalization and Competitiveness”
MaxLinear IPO Prices Stock Above Range at $14 a Share
What began as a modest IPO for Carlsbad, CA-based chipmaker MaxLinear appears to be heating up. In a statement released tonight that MaxLinear increased its initial offering to 6.4 million shares at $14 a share—from 5.4 million shares at a range of $11 to $13 a share. The new stock offering is one of six … Continue reading “MaxLinear IPO Prices Stock Above Range at $14 a Share”
Torrey Pines Investment Raises $30 Million Toward $150M Target For Next Fund
Torrey Pines Investment, a San Diego life sciences investment firm with close ties in Russia, has raised $30 million for a second venture fund that is targeting $150 million. Nicolay Savchuk, a Russian-born mathematician and Torrey Pines director, was traveling yesterday and said he was not available to comment on the fund-raising effort, which was … Continue reading “Torrey Pines Investment Raises $30 Million Toward $150M Target For Next Fund”
Avaak Raises $10M to Expand Market for Wireless Video Monitor
Avaak, the San Diego startup that specializes in ultra low-power wireless video networking technology, says today it has raised $10 million in a Series B round of venture funding led by Qualcomm Ventures, the San Diego chipmaker’s strategic investment arm. Existing investors Trinity Ventures, InterWest Partners, and Leapfrog Ventures joined in the round. The three … Continue reading “Avaak Raises $10M to Expand Market for Wireless Video Monitor”
Searching For Signs of a Comeback in San Diego’s Innovation Economy
San Diego’s innovation economy obviously imploded last year—dragged down by general economic conditions that were hammered by the collapse in Southern California real estate, the breakdown of the capital markets, and a decline in tourism. Now there are signs that things are stabilizing, and might even be gradually improving, according to several reports released last … Continue reading “Searching For Signs of a Comeback in San Diego’s Innovation Economy”
MaxLinear Ready for IPO, Lindbergh Grandson Announces Electric Aircraft Prize, EMN8 Raises $14.4M, & More San Diego BizTech News
We had an interesting mix of high-tech news last week, as several efforts to raise capital took shape, and famed aviator Charles Lindbergh’s grandson announced an electrifying new incentive prize. Read on to learn what it’s all about. —Carlsbad, CA-based chipmaker MaxLinear is expected to go public this week. The company, which specializes in designing … Continue reading “MaxLinear Ready for IPO, Lindbergh Grandson Announces Electric Aircraft Prize, EMN8 Raises $14.4M, & More San Diego BizTech News”
Biotech Demystified: UCSD Offers Science Basics For Industry Leaders
U.C. San Diego’s Rady School of Management, the division of Biological Sciences, and the Skaggs School of Pharmacy and Pharmaceutical Sciences are offering their seventh annual program for executives and decision-makers gain a practical understanding the biotechnology and pharmaceutical industries. Classes are held at the Rady School. Online information and registration is here.
Lindbergh Grandson Launches Incentive Prizes for Advances in Electric Aircraft and Green Aviation
As paragliders and hang gliders swooped overhead, the grandson of famed aviator Charles “Lucky Lindy” Lindbergh chose a stunning panoramic San Diego clifftop to announce the formation of a new incentive prize to recognize advancements in electric aircraft technology. Seattle-area resident Erik Lindbergh says the Lindbergh Electric Aircraft Prize, or LEAP, is intended to stimulate … Continue reading “Lindbergh Grandson Launches Incentive Prizes for Advances in Electric Aircraft and Green Aviation”
Fabless Chipmaker MaxLinear Prepares for Next Week’s Modest IPO
Little did I know when I canceled an interview in September with MaxLinear CEO Kishore Seendripu that my journalistic window of opportunity would irrevocably close—and it probably won’t crack open again until some Grizzly Adams wins the jackpot in this year’s Nenana River Ice Classic. Needless to say, MaxLinear deflected my subsequent attempts to reschedule … Continue reading “Fabless Chipmaker MaxLinear Prepares for Next Week’s Modest IPO”
Founding CEO Tina “Super” Nova Keeps Genoptix On a Roll
It must be nice to be the CEO of a life sciences company that sells itself. When Tina Nova stepped up to the microphone at the Roth Capital Partners Growth Stock Conference in Laguna Niguel, CA, yesterday, the Genoptix CEO was playing to a nearly full house. Investors and analysts occupied all but two or … Continue reading “Founding CEO Tina “Super” Nova Keeps Genoptix On a Roll”
San Diego’s Sequenom Steps Back Into the Spotlight, Sort Of
San Diego-based Sequenom (NASDAQ: [[ticker:SQNM]]) is entering a critical phase in its management of the corporate crisis that erupted in its laboratories last year. It’s stepping back into the spotlight. As a public company, Sequenom doesn’t have much choice. The maker of genetic diagnostic equipment and supplies says in its latest annual report that as … Continue reading “San Diego’s Sequenom Steps Back Into the Spotlight, Sort Of”
San Diego’s EMN8 Raises $14.4M For Self-Service Sales Kiosks
San Diego-based EMN8, which develops self-service, touchscreen displays and systems for use in fast-food restaurants, theaters, theme parks, and other retailers, has ordered up more than $14.4 million in venture funding, according to a recent filing with government regulators. The venture-backed company says it has raised all but $179,550 of a secondary round that began … Continue reading “San Diego’s EMN8 Raises $14.4M For Self-Service Sales Kiosks”
Ventana Capital’s Tom Gephart Seeks $5 Billion (With a “B”) from Feds to Support VCs
You could say Tom Gephart is “old school” venture capital, which means he started investing in the 1970s when there were no rules. So maybe it shouldn’t seem too surprising when he says he’s working on a proposal to secure $5 billion in federal economic stimulus funding that would be invested in startup companies throughout … Continue reading “Ventana Capital’s Tom Gephart Seeks $5 Billion (With a “B”) from Feds to Support VCs”
Sequenom Highlights Its Good News, Keeps Lid on Bad
Sequenom (NASDAQ: [[ticker:SQNM]]) sought to assure shareholders on a variety of fronts today, nearly a year after the San Diego maker of genetic diagnostic tests canceled the launch of its flagship test for Down syndrome due to “employee mishandling of R&D test data and results.” Following an internal investigation, Sequenom announced five months later that … Continue reading “Sequenom Highlights Its Good News, Keeps Lid on Bad”
San Diego’s Small Cap Stocks Arrive in Force at Roth Capital’s Largest Investor Conference
Call it optimism or a sense of relief, but the atmosphere surrounding Roth Capital’s 22nd annual growth stock conference feels more upbeat and expansive. The invitation-only institutional investor conference begins today at the Ritz Carlton in Dana Point, CA, with a 7 a.m. breakfast panel on investing in China, and runs through mid-afternoon Wednesday. Attendee … Continue reading “San Diego’s Small Cap Stocks Arrive in Force at Roth Capital’s Largest Investor Conference”
West Wireless Health Institute Names First CEO, Leap Wireless Trims Operations, MaxLinear Sets Price Range for IPO, & More San Diego BizTech News
A recent Harris poll found that most Americans have never heard of a smart meter and they don’t know what the smart grid is, but these new technologies are coming anyway. We’ve got a lot of cleantech news, which we’ll dispense as efficiently as possible. —Is Leap Wireless, (NASDAQ: [[ticker:LEAP]]) optimizing its operations for a … Continue reading “West Wireless Health Institute Names First CEO, Leap Wireless Trims Operations, MaxLinear Sets Price Range for IPO, & More San Diego BizTech News”
EcoDog Expands as Developer Puts Energy Watchdog in New “Eco-Savvy” Homes
When I had breakfast recently with Ron Pitt, he pointed out that there are only about 100 or so major, investor-owned utilities in the United States—but there are roughly 70 million owner-occupied single-family homes. So why, in the name of God’s greenhouse gases, are so many venture-backed startups focused on developing cleantech innovations and smart … Continue reading “EcoDog Expands as Developer Puts Energy Watchdog in New “Eco-Savvy” Homes”
China’s WuXi, a Partner of San Diego’s TargeGen, Offers New Model for Drug Development
A few years ago, news articles in Business Week, Nature, and elsewhere described a veritable stampede among big pharmaceutical companies like Roche, Eli Lilly, Pfizer, and GlaxoSmithKline to work with contract research organizations in China and India. As it turns out, some of San Diego’s smallest biotech startups have been doing the same thing. The … Continue reading “China’s WuXi, a Partner of San Diego’s TargeGen, Offers New Model for Drug Development”
Leap Wireless Closes Cricket Stores, Cuts 180 Employees
Amid considerable speculation about a potential merger, San Diego’s Leap Wireless (NASDAQ: [[ticker:LEAP]]) has trimmed about 4 percent of its workforce and closed or transferred 38 of its Cricket Communications storefronts. Leap spokesman Greg Lund confirms that the flat-rate wireless service provider laid off a total of 180 employees nationwide on March 1 as part … Continue reading “Leap Wireless Closes Cricket Stores, Cuts 180 Employees”
Helix Wind Replaces CEO
San Diego’s Helix Wind (NASDAQ OTC Bulletin Board: HLXW), which makes vertical-axis wind turbines, today named Scott Weinbrandt, the president and board chairman, to replace co-founder Ian Gardner as CEO. Gardner also resigned from the company’s board, along with another director, Gene Hoffman. In its statement, Helix Wind also says it also has been in … Continue reading “Helix Wind Replaces CEO”
Chipmaker MaxLinear Sets IPO Price Range
MaxLinear, a wireless chip design company that filed for an IPO in November, will offer 5.43 million shares of its stock at between $11 and $13 a share, according to Renaissance Capital. The Carlsbad, CA-based company, which will trade on the New York Stock Exchange under the ticker symbol MXL, was founded in 2003. The … Continue reading “Chipmaker MaxLinear Sets IPO Price Range”
The Smart Grid is Coming! What’s a Smart Grid?
Several hundred utility executives, government regulators, and engineers have gathered in downtown San Diego this week for a three-day conference that is focused on what may be the utility industry’s biggest paradigm shift since the Tennessee Valley Authority electrified the Southeastern United States. The only problem is that it’s the biggest paradigm shift that people … Continue reading “The Smart Grid is Coming! What’s a Smart Grid?”
West Wireless Health Institute Names J&J Exec as First CEO
San Diego’s West Wireless Health Institute today named Donald Casey as its first chief executive officer. Casey, a former worldwide chairman of Johnson & Johnson’s Comprehensive Care group, also will serve on the institute’s board of directors, according to a statement issued today. Gary West, who sold his Omaha, NE-based West Corp. for $3.3 billion … Continue reading “West Wireless Health Institute Names J&J Exec as First CEO”
Tocagen, Developing Anti-Cancer Therapies, Close to Closing on $8M Round
San Diego’s Tocagen, a biotech developing gene therapy treatments for terminal cancers, says it has raised nearly $7.8 million from 75 investors in a Series D round that began Feb. 2, according to a recent regulatory filing. Tocagen, which also raised about $3 million last month by selling preferred shares, says in the filing that … Continue reading “Tocagen, Developing Anti-Cancer Therapies, Close to Closing on $8M Round”
Memjet Names Legg as CFO
Memjet, the San Diego printer technology startup that named former Qualcomm COO Len Lauer as its CEO in January, took a step toward becoming a conventional company by naming Mark W. Legg as chief financial officer, according to a statement issued today. Legg was previously the CFO at privately held General Atomics of San Diego. … Continue reading “Memjet Names Legg as CFO”
Fallbrook Reveals Development Deal
San Diego’s Fallbrook Technologies, which is developing a new and more-efficient design for a continuously variable transmission, says today it has signed an agreement with Hodyon of Austin, TX, for joint development of a new air conditioner compressor for medium and heavy-duty vehicles. Financial terms of the agreement were not disclosed. Fallbrook says its deal … Continue reading “Fallbrook Reveals Development Deal”
Qualcomm CEO Outlines Vision for Wireless Internet, Experts Explain Memjet’s Pluses and Minuses, Tech Coast Angels Slow Investment Activity, & More San Diego BizTech News
Qualcomm’s chairman and CEO says the San Diego wireless company is in the driver’s seat when it comes to setting the agenda for the wireless industry. We’re here to tell you what that means, so you don’t miss the on-ramp. —When Paul Jacobs was named to head San Diego’s Qualcomm five years ago, the No. … Continue reading “Qualcomm CEO Outlines Vision for Wireless Internet, Experts Explain Memjet’s Pluses and Minuses, Tech Coast Angels Slow Investment Activity, & More San Diego BizTech News”
Scientists from Sapphire Energy, UCSD, Scripps, and Protelica Show Genetically Modified Algae Can Make Important Drugs
Scientists in San Diego and Hayward, CA, have demonstrated the feasibility of using algae to produce commercial levels of human therapeutic proteins that are currently being used to treat emphysema and other diseases, or are in clinical trials for use to boost the immune system. “The bottom line from the study is that the algae … Continue reading “Scientists from Sapphire Energy, UCSD, Scripps, and Protelica Show Genetically Modified Algae Can Make Important Drugs”
ImThera Medical Generating Buzz Over Neurostimulation for Sleep Apnea
Some 800,000 people in the U.S. are diagnosed each year with obstructive sleep apnea, in which the tongue relaxes during the onset of sleep to the point of physically blocking much of the upper airway. The condition often causes repeated interruptions of sleep, which can lead to increased blood pressure, coronary problems, and diabetes. The … Continue reading “ImThera Medical Generating Buzz Over Neurostimulation for Sleep Apnea”
Adamis and La Jolla Pharma Kill Merger Deal
Two San Diego biotechs, Adamis Pharmaceuticals and La Jolla Pharmaceutical, said today they have agreed to terminate their merger agreement, which was signed three months ago. The Nasdaq market also delisted La Jolla Pharmaceutical today, saying the company is operating only as a “public shell” with minimal assets and operations. La Jolla Pharmaceutical said that … Continue reading “Adamis and La Jolla Pharma Kill Merger Deal”