Xconomy has closed the first tranche of its second financing round, we are extremely pleased to announce. Return investor CommonAngels, the premier angel group in New England, led the round. New investor LaunchCapital—a small (and very astute) early-stage venture fund with offices in Cambridge, MA; New Haven, CT; and Palo Alto—also participated. And they were … Continue reading “Xconomy Closes Second Financing Round”
Author: Robert Buderi
Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative.
Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.
NitroMed and Archemix to Merge
Last month, when Lexington, MA-based biotech company NitroMed announced it was selling off all the assets related to its only drug product, CEO Kenneth M. Bate said the company would concentrate on “combining, through one or more strategic transactions, with companies that have significant unrealized value or growth potential.” Apparently it didn’t take long for … Continue reading “NitroMed and Archemix to Merge”
AutoVirt Adds $4M to Series A Round
Nashua, NH-based virtualization startup AutoVirt, which makes software for file virtualization and data migration in Windows environments, announced today that it has added $4 million to a Series A round originally announced in January. Previous investors Kepha Partners and Sigma Partners provided the new funds, bringing AutoVirt’s total raised to $8.5 million. The additional funds … Continue reading “AutoVirt Adds $4M to Series A Round”
ThingMagic Inks In-Q-Tel Deal
ThingMagic, the Cambridge, MA-based maker of radio frequency identification (RFID) systems, announced today that it has signed a strategic investment and technology development deal with In-Q-Tel, a venture firm founded by the CIA. Under the agreement, terms of which were not disclosed, ThingMagic will expand its development efforts “to facilitate the integration of RFID and … Continue reading “ThingMagic Inks In-Q-Tel Deal”
MIT Sloan School Student One of Three Finalists in “Crazy Green Idea” Contest to Create Energy X Prize
Updated (see below): A student group at MIT’s Sloan School of Management has been named one of three national finalists in a contest seeking YouTube video proposals for the creation of a new X Prize in Energy and the Environment, the X Prize Foundation announced today. Jonathan Dreher’s 2-minute proposal, “Energy X PRIZE: Reduce Home … Continue reading “MIT Sloan School Student One of Three Finalists in “Crazy Green Idea” Contest to Create Energy X Prize”
How to Handle the Downturn: Xconomy’s Top 9 List of Top 10 Lists
Death. Taxes. Advice. You can always count on the first two, as the saying goes. But advice—usually unsolicited—can be added to the “inevitables” list whenever things go sour. As in today’s economy. Said advice will be all over the map, too—everything from “cut your losses and head for the hills” to “double up and buy … Continue reading “How to Handle the Downturn: Xconomy’s Top 9 List of Top 10 Lists”
Obama Envisions $150 Billion for “Green Energy Economy” in YouTube Address
In case you weren’t one of the 657,000 people who have watched it as of this writing, Barack Obama posted his first post-election YouTube address on Saturday, signaling a new stage in the evolution of presidential communications. The President elect, who plans to give weekly video addresses in parallel to the traditional weekly radio messages, … Continue reading “Obama Envisions $150 Billion for “Green Energy Economy” in YouTube Address”
New England Biotech Group Kicks Off
The nascent New England Biotech Association, an umbrella group comprised of trade associations from all six New England states, held its first board meeting yesterday, the Boston Globe reports. The group is chaired by Paula Newton, President of the New Hampshire Bio/Medical Council. According to its website, “NEBA is committed to ensuring the region remains … Continue reading “New England Biotech Group Kicks Off”
Last Call on Registration and First Call on Presentations for Xconomy Forum on Energy Innovation
With the Xconomy Forum on Energy Innovation fast approaching (the event will be held on December 2 at the British Consulate in Cambridge), I want to give a quick update on what’s shaping up to be an exciting—and sold out (see below)—evening. I also want to put out the call to anyone who might want … Continue reading “Last Call on Registration and First Call on Presentations for Xconomy Forum on Energy Innovation”
.406 Ventures Leads $12M Digitalsmiths Funding
Video analytics and search startup Digitalsmiths has raised $12 million in a Series B round led by Boston’s .406 Ventures, the Research Triangle Park, NC-based company announced today. Previous investors The Aurora Funds and Chrysalis Ventures also joined the round.
Tracking San Diego Tech Layoffs
Cash is king. It’s an old adage. But in good times, people seem to take it as meaning that spending cash is king. In hard times like the present, it’s all about conservation of cash. And as the economic woes from Wall Street spill out into the tech sector, companies are announcing widespread layoffs as … Continue reading “Tracking San Diego Tech Layoffs”
A Robot Store in Every Mall? IRobot CEO Discuss Firm’s Efforts to Boost Retail Sales
Who couldn’t use a robot or two to help with household chores? To make finding that robo-helper easier (and to boost holiday sales) Bedford, MA-based iRobot (NASDAQ: [[ticker:IRBT]]) announced last week it was opening a kiosk in the Burlington Mall that will show off its Roomba robot vacuum cleaners and other bots for gutter cleaning, … Continue reading “A Robot Store in Every Mall? IRobot CEO Discuss Firm’s Efforts to Boost Retail Sales”
Second Rotation Gets $6 Million Second Round for Electronics Recycling
The flailing economy is already hurting consumer electronics sales—and no one thinks things will get better soon. But will a slowdown in purchases of new gizmos and gadgets spur sales of used electronics as people look for bargains? Or will it diminish the supply of previously owned electronics as people hold onto their goods longer? … Continue reading “Second Rotation Gets $6 Million Second Round for Electronics Recycling”
Heartland Robotics Ramps Up, Rejiggers Management as Co-founder Departs and IntelliVid Founder Arrives
Heartland Robotics, the two-month-old industrial robotics startup MIT computer science guru Rod Brooks envisions as an engine for revitalizing the American workforce, has ramped up its own workforce while making some key changes at the top, Xconomy has learned. Founding CEO Ken Zolot has departed and will no longer be involved in company operations. Meanwhile, … Continue reading “Heartland Robotics Ramps Up, Rejiggers Management as Co-founder Departs and IntelliVid Founder Arrives”
How Bad is the Biotech Climate? Think 4 on a Scale of 10
The climate for biotechnology companies in Massachusetts today is 33 percent worse than it was this time last year—rating a ‘4’ on a scale of 10, in contrast to the ‘6’ last fall. This was the definitive, near-unanimous view—four out of five—from panelists at a Massachusetts Biotechnology Council finance committee event I moderated recently on … Continue reading “How Bad is the Biotech Climate? Think 4 on a Scale of 10”
Xtalic Shines With 10M Series B Funding
Marlborough, MA-based Xtalic, which develops nanostructured alloys as decorative coatings, as well as to protect against corrosion and wear resistance in everything from tools to sporting goods to electronics, has garnered roughly $10 million in Series B funding, according to PE Hub, which cites a regulatory filing. Investors include North Bridge Venture Partners and Matrix … Continue reading “Xtalic Shines With 10M Series B Funding”
Avid to Lay Off 410 Workers
On the heels of a big third-quarter loss, Tewksbury, MA-based Avid Technology, which makes professional video and audio editing software, announced yesterday that it planned to lay off 410 employees, roughly 15 percent of its staff. The company also plans to terminate 90 contract workers and sell its Softimage 3-D game animation business. The Boston … Continue reading “Avid to Lay Off 410 Workers”
Helen Greiner Speaks: Next Up After iRobot is Service, Kite-Boarding, and Gearing Up for a New Adventure…in Robotics
Helen Greiner just called me. She didn’t go into any particulars of how or why she came to step down as iRobot’s chairman today, but she did sound upbeat about the next phase of her life—and told me some history about she got hooked on robotics at age 11 and wasn’t about to leave the … Continue reading “Helen Greiner Speaks: Next Up After iRobot is Service, Kite-Boarding, and Gearing Up for a New Adventure…in Robotics”
IRobot Co-Founder Greiner Resigns as Chair of Board
Updated Oct. 22, 5 pm with comment from company: IRobot co-founder Helen Greiner, who has been instrumental in guiding the company since its inception in 1990 and who has served as a leading voice on robotics innovation worldwide, has resigned as chairman of the company’s board and will be replaced by her fellow co-founder and … Continue reading “IRobot Co-Founder Greiner Resigns as Chair of Board”
GreenFuel Fired Up for Big Plant in Spain—Announces Next Phase of $92 Million Plan
GreenFuel Technologies, the Cambridge, MA-based developer of algae bioreactor systems that convert carbon dioxide emissions into clean-burning biofuels, announced today that it had launched the second phase of a major project with Spanish renewable energy firm Aurantia to build a large-scale algae farming plant adjacent to a CO2-spewing cement plant near Jerez, Spain. In making … Continue reading “GreenFuel Fired Up for Big Plant in Spain—Announces Next Phase of $92 Million Plan”
San Diego’s Top 10 Third-Quarter Venture Deals
In case the word hasn’t quite gotten around, things are not pretty on the San Diego investment scene. As Greg wrote on Saturday, venture capital outlays in the third quarter fell to just $178.4 million, a 52 percent nosedive from the previous quarter and the most dismal quarterly showing for the region since Q1 of … Continue reading “San Diego’s Top 10 Third-Quarter Venture Deals”
New England’s Top Third-Quarter Venture Deals—the List
In contrast to the big drops in Xconomy’s sister regions of the Pacific Northwest and Southern California, venture deals in New England seemed to hold up pretty well in the third quarter. All told, as Greg reported Saturday, the region’s venture capitalists ponied up some $834 million for 117 deals during the period. That was … Continue reading “New England’s Top Third-Quarter Venture Deals—the List”
Top 10 Q3 Venture Deals in the Northwest
The third quarter saw a pretty significant decline in Northwest venture deals, as Greg reported on Saturday. But still some big ones were landed—starting with one of the biggest in the nation: Big Fish Games. The Seattle maker of casual and online games (a 2002 spinoff from RealNetworks) took in a whopping $83.3 million, more … Continue reading “Top 10 Q3 Venture Deals in the Northwest”
Nokia to Pay Qualcomm $2.8B
Finish communications giant Nokia will pay San Diego-based Qualcomm about $2.3 billion under the just-released terms of a previously signed patent licensing deal, socalTECH reports, citing Nokia’s third quarter results announced earlier this week. The companies announced an agreement this summer to settle Qualcomm’s patent infringement claims against Nokia, but the terms had not been … Continue reading “Nokia to Pay Qualcomm $2.8B”
Predictive Biosciences Closes $21.75 Million Round to Help Detect Cancer From Urine
No sooner did Rebecca note the recent dearth of life sciences venture financings than we got word of a sizable one: Lexington, MA-based Predictive Biosciences, which has a small office in San Diego and is out to help build a new era of personalized medicine, announced today that is has secured $21.75 million in Series … Continue reading “Predictive Biosciences Closes $21.75 Million Round to Help Detect Cancer From Urine”
Highland’s Paul Maeder Taking Firm Into Energy Investments—Targeting Efficiency, Not “Science Projects”
Three or four years ago, Highland Capital Partners made one cleantech investment—in Amp Resources, a Nevada geothermal company that was sold last year to Italian power company Enel. That’s been it for Highland’s cleantech or energy deals. But all that is about to change: Highland general partner Paul Maeder, who traditionally has focused on information … Continue reading “Highland’s Paul Maeder Taking Firm Into Energy Investments—Targeting Efficiency, Not “Science Projects””
Silicon Valley Sounds the Alarm—Sequoia Calls Emergency Meeting Warning Entrepreneurs to Brace for Financial Impact
The word spread quickly through the Silicon Valley blogosphere and around the entrepreneurial and venture worlds last night: legendary California venture capitalist Mike Moritz and the Sequoia Capital folks had called an emergency meeting of the firm’s portfolio-company leaders and told them to brace for what might well be the worst economic times they had … Continue reading “Silicon Valley Sounds the Alarm—Sequoia Calls Emergency Meeting Warning Entrepreneurs to Brace for Financial Impact”
Private Equity Funds Raised in New England—The Third Quarter List
Earlier today, we reported on national private equity fundraising trends through the year’s first three quarters—trends that put the U.S. on a pace to surpass last year’s record total of $313 billion raised. We were finally able to track down the list of New England funds raised (some are still open, so the figures could … Continue reading “Private Equity Funds Raised in New England—The Third Quarter List”
U.S. Private Equity Firms On Pace For Record Fundraising Year through Q3: But Does Anyone Think It Will Last?
Last week I wrote a story about Highland Capital Partners’ all-out 20th anniversary bash here in Boston entitled, What Financial Crisis? The same title might be fitting for a piece about the data on private equity fundraising that was released today. Buoyed by a strong third quarter, private equity firms—including venture firms like Highland—are on … Continue reading “U.S. Private Equity Firms On Pace For Record Fundraising Year through Q3: But Does Anyone Think It Will Last?”
Xconomy Launches in San Diego—One of the World’s Great Innovation Clusters
Just over three months ago, Xconomy took its model of hyperlocal coverage of key innovation clusters—which we launched here in Boston in June 2007—to Seattle. This morning, I am pleased to announce, marks the official debut of Xconomy San Diego. The editor of Xconomy San Diego is Bruce Bigelow, an award-winning business and technology journalist … Continue reading “Xconomy Launches in San Diego—One of the World’s Great Innovation Clusters”
Auraria Networks Nets $10M in Funding
Boxborough, MA-based Auraria Networks, a content management and information analysis products provider, has taken in $10 million in Series B funding, reports PE Week, citing a regulatory filing. Pilot House Ventures apparently led the round, joined by previous investor Matrix Partners. It’s hard to gauge what Auraria does, since the website gives little information and … Continue reading “Auraria Networks Nets $10M in Funding”
What Financial Crisis? Highland’s 20th Hearkens to Days of the Bubble
A basketball hoop in the Museum of Science lobby, teams of entrepreneurs playing 3 on 3. Boston Celtics cheerleaders rooting them on. A rockin’ band. Shots of blueberry martinis doled out in test tubes. A contortionist—yes, a female contortionist in a skin-tight body suit. Did I just go through a time warp, I wondered? This … Continue reading “What Financial Crisis? Highland’s 20th Hearkens to Days of the Bubble”
What Does the Financial Crisis Mean for Innovation? Xconomists Weigh In
Yesterday was a dark day on Wall Street, and, according to many observers, a dark day for our political system. But what does the financial crisis mean for innovation, and what are the key things that investors, entrepreneurs, and big companies should do or not do during such an upheaval? Xconomy asked this question of … Continue reading “What Does the Financial Crisis Mean for Innovation? Xconomists Weigh In”
Hal Abelson’s Android Class at MIT Expands to Nokia and Windows Mobile Phones—But No iPhone
What do you do when the experimental class you offered in designing applications for Google’s Android mobile phone operating system brings your students $300,000 and unprecedented experience in creating real-world-ready applications? If you’re MIT professor Hal Abelson, you expand it to phones and other mobile devices made by Microsoft and Nokia. But not Apple’s iPhone … Continue reading “Hal Abelson’s Android Class at MIT Expands to Nokia and Windows Mobile Phones—But No iPhone”
Highland Leads $28.7M Digg Round
Lexington, MA-based Highland Capital Partners led a $28.7 million Series C funding round in Digg, the San Francisco-based social news site announced today. Existing Digg investors Greylock Partners, SVB Capital, and Omidyar Network joined the round, which will be used to finance an ambitious expansion that includes doubling Digg’s staff to 150 by the end … Continue reading “Highland Leads $28.7M Digg Round”
Xconomy Forum: A Big Thank You to Our Sponsors, Speakers, and Guests
Xconomy held its first half-day life sciences forum yesterday—How to Build A Life Sciences Company—and it was a rousing success. All told, nearly 200 people attended the event, which featured, among other things, case studies on five startups with different funding strategies that illustrate the innovative approaches needed to launch and sustain life sciences companies … Continue reading “Xconomy Forum: A Big Thank You to Our Sponsors, Speakers, and Guests”
How to Build a Life Sciences Company: Xconomy Forum Tomorrow
We’re looking forward to a great morning tomorrow at our half-day conference, How to Build a Life Sciences Company. In addition to the keynote chat with legendary MIT inventor and entrepreneur Bob Langer and Polaris Venture Partners co-founder Terry McGuire (Xconomy chief correspondent Wade Roush will moderate), we have five case studies of recent startups … Continue reading “How to Build a Life Sciences Company: Xconomy Forum Tomorrow”
Todd Dagres on the Media Trends Taking Spark Capital Way Beyond Boston
Boston venture firm Spark Capital launched three years ago with a relatively small $260 million fund mainly targeting early-stage investments at the “conflux of the media, entertainment, and technology industries.” Small funds typically focus on a given geographical region, in addition to their specialty areas. But on Monday, when Spark announced the hiring of former … Continue reading “Todd Dagres on the Media Trends Taking Spark Capital Way Beyond Boston”
Spark Capital Gains ‘Mo,’ as It Pushes Deeper Into NY Media and Entertainment Scene
Spark Capital today announced it has hired media and technology executive Moshe “Mo” Koyfman as a principal—making him a central part of the Boston-based venture firm’s deeper push into the New York (and national) media and entertainment technology space. With some $620 million under management through two funds, Spark focuses its investments on the intersection … Continue reading “Spark Capital Gains ‘Mo,’ as It Pushes Deeper Into NY Media and Entertainment Scene”
Startup Opportunities in Life Sciences
The Lyon area is France’s top life sciences cluster. And if you would like to learn why, and how to start a life sciences or tech venture in France, this is the event to attend—as a host of entrepreneurs and other representatives of Lyon’s bio-cluster will be on hand to give the details. The event … Continue reading “Startup Opportunities in Life Sciences”
Xconomy Rockin’ Tonight in Harvard Square
When we hired Greg Huang as our Seattle editor a few months ago, Rebecca wrote an article entitled, Introducing Greg. He Rocks. That’s because right after we hired him, he went on tour with what we described as his “fantastically quirky band,” Honest Bob and the Factory-to-Dealer Incentives. The band, which claims influences by the … Continue reading “Xconomy Rockin’ Tonight in Harvard Square”
Big Fish Lands $83.3 Million Investment Round
No sooner had Greg published his 45-company-long list of members of the Greater Seattle gaming cluster, than one of those companies—Big Fish Games—jumped out of the pool to grab the spotlight in a big (think $83.3 million) way. That was the whopping amount of new funding the Seattle company, founded in 2002 by Paul Thelen, … Continue reading “Big Fish Lands $83.3 Million Investment Round”
How IRobot Took the Plunge into Underwater Vehicles
Every company chairman likes to grow her business—and one common way to do that is by finding new revenue streams. It’s just that for most companies, that stream doesn’t turn out to be the ocean. IRobot isn’t most companies. On Monday, the Bedford, MA-based maker of land-based military and consumer robotics dived deeper into the … Continue reading “How IRobot Took the Plunge into Underwater Vehicles”
Why Startups Should Quit Silicon Valley
I couldn’t help but notice that Yankee Group founder and Xconomist Howard Anderson, in a blatant act of disloyalty (just kidding, Howard), has blogged today for GigaOm, penning a post entitled: “5 Reasons to Move Your Startup Out of Silicon Valley.” The post is vintage Anderson, quippy and pointed—just the way he teaches at MIT’s … Continue reading “Why Startups Should Quit Silicon Valley”
X-Prize Goes Energy—With “Crazy Green Idea” Prize to Debut at MIT Today
A prize for a prize. That’s essentially the reason a trio of heavyweights—Ray Kurzweil, Xconomist George Church, and Saul Griffith—will be on hand at MIT this afternoon, as they help announce a $25,000 prize for whomever comes up with the best idea for a $10 million energy and environment prize to be awarded by the … Continue reading “X-Prize Goes Energy—With “Crazy Green Idea” Prize to Debut at MIT Today”
Seattle Entrepreneurs Call Bay Area VCs, Amazon Sells XOs, Tableau Taps $10M, ZymoGenetics Gives Up Drug Rights, & More Deals News
Everybody should be back from vacation, and the deal flow surging—but someone forgot to tell the dealmakers, as the past week was pretty light for Seattle tech and life sciences action. —In a deal worth approximately $131 million, Bellevue, WA-based Captaris (NASDAQ: [[ticker:CAPA]]), which makes business and documents management software, announced it is being acquired … Continue reading “Seattle Entrepreneurs Call Bay Area VCs, Amazon Sells XOs, Tableau Taps $10M, ZymoGenetics Gives Up Drug Rights, & More Deals News”
IRobot Dives Deeper into “Next Frontier” of Underwater Robotics with $10M Acquisition of NC Firm
Calling the undersea market “the next frontier” for robotics, iRobot announced today that it has reached a definitive agreement to acquire unmanned underwater robot and technology company Nekton Research of Raleigh-Durham, NC. IRobot said that it will pay $10 million up front for Nekton, with the potential to pay an additional $5 million if certain … Continue reading “IRobot Dives Deeper into “Next Frontier” of Underwater Robotics with $10M Acquisition of NC Firm”
Rod Brooks Follows His Heart(land), Amazon Helps Out OLPC, the Broad Gets $400M, GT Solar Shines Over Big Contract, & More Deals News
Summer’s over, school’s back in session, and the deals were jumping in just about every sector as September got underway. —IRobot announced co-founder Rod Brooks was stepping down as the company’s CTO (but remaining on the board of directors) to devote full time to his new company, Heartland Robotics. Cambridge, MA-based Heartland will focus on … Continue reading “Rod Brooks Follows His Heart(land), Amazon Helps Out OLPC, the Broad Gets $400M, GT Solar Shines Over Big Contract, & More Deals News”
Management Guru Michael Hammer Dies at Age 60
Updated: Michael Hammer, the business management guru and author of the 1990s business bestseller Reengineering the Corporation (co-authored by James Champy) and three other books, has died at age 60 after collapsing from apparent cranial bleeding on August 22 while he was on vacation in the Berkshires, his company and various news organizations are reporting. … Continue reading “Management Guru Michael Hammer Dies at Age 60”
Xconomy Needs An Entrepreneur-Tennis Player to Take on the VCs
With the second annual VC vs. Entrepreneur Davis Cup 2008 Challenge just around the corner—set for the afternoon of September 16 on the grass at Longwood—Xconomy is looking for one more entrepreneur to round out its doubles team. This is a golden opportunity to serve up your message to top VCs (pun intended). More importantly—really, … Continue reading “Xconomy Needs An Entrepreneur-Tennis Player to Take on the VCs”