Normally, we wouldn’t get too excited about a $300,000 tech startup financing in Boston. We might write a brief, or save it for a deal roundup. But today’s news that Locately, a Boston-based location analytics firm, has raised a seed round touches on several important local innovation themes and organizations. Consider the following: —One of … Continue reading “Angel Boot Camp, Project 11, and Hacker Angels Meet at a Startup Called Locately”
Author: Gregory T. Huang
Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003.
Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.
Prelert Raises $3.75M to Manage IT Incidents
Needham, MA-based Prelert, a maker of IT analysis and incident management software, announced it has raised $3.75 million in Series A financing from Fairhaven Capital Partners and Sierra Ventures. Prelert says its software helps companies identify the cause of IT service disruptions (for things like Web applications) much faster than existing approaches. The technology uses … Continue reading “Prelert Raises $3.75M to Manage IT Incidents”
CityVoter Gears Up for “Best Of” Voting Push, Looks to Cash In on Daily Deals and Rewards
It’s good to know that the dive bar around the corner from where I used to live for seven-plus years has spawned at least one intriguing tech startup. The bar is Joe Sent Me on Mass. Ave. in North Cambridge, MA—and it’s not a dive anymore (hasn’t been for years). The startup is CityVoter, which … Continue reading “CityVoter Gears Up for “Best Of” Voting Push, Looks to Cash In on Daily Deals and Rewards”
Helicopter Lasers, Health Record Exchange, and Rick Snyder’s Past—A Michigan Roundup
There has been a smattering of innovation news from around the state this week: —University of Michigan researchers are developing a laser-based system to protect military helicopters from heat-seeking missiles by jamming their sensors, according to a report in Gizmag. Mohammed Islam, a U-M professor of electrical engineering and computer science, is leading the research … Continue reading “Helicopter Lasers, Health Record Exchange, and Rick Snyder’s Past—A Michigan Roundup”
Betahouse Is Closed—For Now
Betahouse, the Cambridge, MA-based co-working community and events space for tech startups in Central Square, has closed its doors as of August 31, says founder Jon Pierce. The group’s planned expansion to a new space in Cambridge fell through last month, a few weeks before its current lease ended. Pierce told Mass High Tech that … Continue reading “Betahouse Is Closed—For Now”
BAE Buys Oasys
Oasys Technology, a Manchester, NH-based company specializing in electronics and optical systems, is being acquired by BAE Systems, the U.K.-based defense and aerospace company. Financial terms weren’t given in the press release, but outlets including Automated Trader and Mass High Tech have reported the deal is worth $25 million upon closing plus an earnout of … Continue reading “BAE Buys Oasys”
Back from Labor Day: Three Posts You Should Read
Was there a summer slowdown this year in the tech-business world? I’m not so sure (and neither are some other observers). In any case, let’s get ready for the craziness that is fall news and events in our industries. Here are three blog posts from around the Web—and around the country—that you might have missed … Continue reading “Back from Labor Day: Three Posts You Should Read”
Backupify Adds $4.5M
Cambridge, MA-based Backupify, an online data management startup, said today it has raised $4.5 million in Series A financing led by Avalon Ventures and General Catalyst. Lowercase Capital and First Round Capital also participated in the round. Backupify helps consumers and companies securely back up their data online, and is increasingly focused on providing software … Continue reading “Backupify Adds $4.5M”
Worry About Customers, Not Financing or Exits, Says Angel Investor Joe Caruso
It’s been three months since Angel Boot Camp in Cambridge, MA—a seminal event in the local ecosystem of angel investors and entrepreneurs. I’m curious to follow up on what progress has been made since that meeting, so I’ve been getting to know some of the local angel investors in technology who were there, and/or who … Continue reading “Worry About Customers, Not Financing or Exits, Says Angel Investor Joe Caruso”
Vela Systems Scores $6M Series B
Burlington, MA-based Vela Systems, a mobile field software startup, said today it has raised a $6 million Series B equity financing led by new investor Autodesk (NASDAQ: [[ticker:ADSK]]). Existing investors Commonwealth Capital Ventures, GrandBanks Capital, and individual investors also participated in the round. Vela Systems says the new money will be used to “expand and … Continue reading “Vela Systems Scores $6M Series B”
Apple Vs. Amazon Battle Continues: Adventures in TV Land
[Corrected, 11:00 am. See below] First it was the iPad vs. the Kindle. Now the battleground is shifting to television. Apple keeps rolling out new devices to control how consumers interact with screens of different sizes. What the world really needs is a smart, stretchable display material so people could adjust their screen to whatever … Continue reading “Apple Vs. Amazon Battle Continues: Adventures in TV Land”
U.S. Innovation and Entrepreneurship Council Quietly Holds First Meeting in DC, Starting with Steve Case-Hosted Dinner
It’s a big day for U.S. innovation strategy. The National Advisory Council on Innovation and Entrepreneurship is holding its first official meeting at the Department of Commerce in Washington, DC, today—and Xconomy has some exclusive details. The council, made up of 26 national leaders in business, technology, and academia, is charged with helping the Obama … Continue reading “U.S. Innovation and Entrepreneurship Council Quietly Holds First Meeting in DC, Starting with Steve Case-Hosted Dinner”
TechStars Expands to NYC
TechStars, the seed-stage investment and mentoring program for technology startups, said today it is opening a new session in New York City, starting in January 2011. Applications from entrepreneurs are due by November 21, 2010. TechStars was founded in 2006 in Boulder, CO, and has since expanded to Boston and Seattle. New York will be … Continue reading “TechStars Expands to NYC”
Party Like It’s 1999: 10 Old Tech Ideas That Are New Again
Timing is everything—especially in the tech world. If you follow trends in technology, science, or business for long enough, you realize there are very few new ideas. Instead, the combination of the right idea with the right timing and execution is usually the key to success in any field. Look at all the snazzy tech … Continue reading “Party Like It’s 1999: 10 Old Tech Ideas That Are New Again”
Spreadshirt CEO Eggers to Leave Firm
Jana Eggers, the chief executive of Spreadshirt, a Leipzig, Germany-based online clothing boutique with North American headquarters in Boston, said today in a blog post that she is leaving the company. Eggers wrote that Spreadshirt has begun an international search for a new CEO, and that she will stay on “for a transition period.” She … Continue reading “Spreadshirt CEO Eggers to Leave Firm”
SCVNGR Goes Live with Rewards for Boston Businesses, Eyes Potential Partners
I’m getting the sense that Seth Priebatsch could sell just about anything—and he will. His mobile gaming and rewards startup, Cambridge, MA-based SCVNGR, has been in PR overdrive for the past week, announcing everything from its integration with Facebook Places to new rewards partnerships with AT&T and Zipcar. Today, the company is showcasing a new … Continue reading “SCVNGR Goes Live with Rewards for Boston Businesses, Eyes Potential Partners”
The Unica Story: Yuchun Lee’s Journey from MIT Blackjack Team to IBM Acquisition
Because of his past, Yuchun Lee is legally barred from certain establishments. Luckily, IBM is not one of them. Lee is the co-founder and CEO of Unica (NASDAQ: [[ticker:UNCA]]), the Waltham, MA-based marketing and analytics software firm bought by IBM for $480 million in cash earlier this month. Much has been made of Lee’s past … Continue reading “The Unica Story: Yuchun Lee’s Journey from MIT Blackjack Team to IBM Acquisition”
Why Is This Man Smiling? SCVNGR Integrates with Facebook Places, Rolls Out Rewards Partnerships
Now we know why Seth Priebatsch was so happy about Facebook Places last week. His company, Cambridge, MA-based SCVNGR, said today it has integrated its game layer and activities platform with Facebook Places, meaning people can now post their SCVNGR check-ins and “challenges” to Facebook and share them with friends. It’s not a big surprise, … Continue reading “Why Is This Man Smiling? SCVNGR Integrates with Facebook Places, Rolls Out Rewards Partnerships”
Ameresco Acquires Quantum
Ameresco (NYSE: [[ticker:AMRC]]), the energy-efficiency services company based in Framingham, MA, said today it has agreed to acquire Renton, WA-based Quantum Engineering and Development. Financial terms of the deal were not disclosed. Ameresco manages energy infrastructure projects, including the development, construction, and operation of renewable energy plants. It was incorporated in 2000 and raised about … Continue reading “Ameresco Acquires Quantum”
Don’t Confuse Getting to Market with Building a Company: Charles River Ventures’ Izhar Armony Busts Some Micro-VC Myths
“Micro VC” and “super angel” funds are all the rage these days. These terms refer to the emerging segment of venture capital and angel capital in which a growing number of investors are putting small amounts of seed money into very early-stage startups—mainly in Internet software. How are traditional venture firms reacting to this movement? … Continue reading “Don’t Confuse Getting to Market with Building a Company: Charles River Ventures’ Izhar Armony Busts Some Micro-VC Myths”
Cisco to Acquire ExtendMedia, Strengthen Position in Internet Video Delivery
ExtendMedia, a video software company based in Newton, MA, is being acquired by Cisco Systems, the San Jose, CA-based networking giant. The news was announced in a press release this morning. Financial terms of the deal were not given, but the acquisition is expected to be complete by early 2011. It’s an important move for … Continue reading “Cisco to Acquire ExtendMedia, Strengthen Position in Internet Video Delivery”
Can Microsoft Outflank Apple, Facebook, and Google? A Strategy Update
I left Seattle just over a month ago, and people keep asking if I miss anything about it. Yes, I say. But it’s not the amazing coffee, the great food, the nice people, or the beautiful scenery. I miss Microsoft. I’m only half-kidding. I don’t miss hearing about Steve Ballmer’s iPhone and every turn of … Continue reading “Can Microsoft Outflank Apple, Facebook, and Google? A Strategy Update”
TPI to Open Fall River Plant, Get MassCEC Grant
TPI Composites, an Arizona-based maker of wind turbine blades, plans to open a new facility in Fall River, MA, as soon as January, according to a report in the Boston Globe. The plant will be a development hub for TPI’s facilities in Rhode Island, Iowa, Mexico, and China, the report says. The Massachusetts Clean Energy … Continue reading “TPI to Open Fall River Plant, Get MassCEC Grant”
American Superconductor, Going Deeper Into Wind Power, Makes Moves in India and U.K.
One of the giants of the New England cleantech scene is making waves—or should I say, wind. Devens, MA-based American Superconductor (NASDAQ: [[ticker:AMSC]]) said today it has received a new order for 17 wind-turbine electrical control systems from Inox Wind, based in India. Financial details weren’t given, but the company is touting it as a … Continue reading “American Superconductor, Going Deeper Into Wind Power, Makes Moves in India and U.K.”
$5M for Photo Diagnostic Systems
Danvers, MA-based Photo Diagnostic Systems, a new medical imaging startup, has raised $5 million in equity funding, according to a regulatory filing. The news was first reported by Mass High Tech. The MHT article reports that Bernard Gordon, a founder of Analogic (NASDAQ: [[ticker:ALOG]]) and NeuroLogica, bought the assets of Photo Detection Systems (now defunct) … Continue reading “$5M for Photo Diagnostic Systems”
Aileron Inks Deal with Roche, Worth Up to $1.1B, to Develop Stapled Peptide Drugs
It’s a big day for Aileron Therapeutics. The Cambridge, MA-based biotech firm announced this morning it has formed a partnership with Swiss drug and diagnostics giant Roche to discover, develop, and commercialize a new class of drugs known as “stapled peptides.” Under the terms of the deal, Roche (OTCQX: [[ticker:RHHBY]]) will provide at least $25 … Continue reading “Aileron Inks Deal with Roche, Worth Up to $1.1B, to Develop Stapled Peptide Drugs”
SCVNGR, Battling Foursquare and Others, Looks to Stay “On Top of the World” After Facebook Fallout
“I’m the only person in location who’s happy today.” That was Seth Priebatsch last Thursday. It was the morning after Facebook announced its new feature, Facebook Places, that lets people “check in” using their iPhone or iPad (or location-aware laptop) and share their location with their social network. The general consensus among tech observers is … Continue reading “SCVNGR, Battling Foursquare and Others, Looks to Stay “On Top of the World” After Facebook Fallout”
Is Hardware Coming Back in Boston? Analog, Lyric, and Local VCs Suggest Yes
What do you get when you cross an MIT startup, a longtime public tech company, and three of the Boston area’s top VC firms? That sounds like a joke, but I’d argue that you get the makings of an interesting trend. The trend is that hardware—the actual machinery that powers our computers, phones, and other … Continue reading “Is Hardware Coming Back in Boston? Analog, Lyric, and Local VCs Suggest Yes”
SaveWave, Formerly Upromise Grocery Operations, Spins Out from Sallie Mae with $2.3M from VCs, Angels
[Corrected, 8:35am. See below] Jeff Bussgang knows a few things about building consumer Internet companies. He’ll be applying all that knowledge to a new Boston-area company being announced today called SaveWave. Except it’s not actually new. In a previous life, Bussgang, a general partner at Flybridge Capital Partners, co-founded Upromise, a rewards-service company that helped … Continue reading “SaveWave, Formerly Upromise Grocery Operations, Spins Out from Sallie Mae with $2.3M from VCs, Angels”
Google’s Rich Miner Says Timing Is Everything for Android: Three Thoughts from Mobile Monday
Rich Miner was no Billie Joe Armstrong. But I can’t say I’m too sad to have missed Green Day’s concert at Great Woods (Comcast Center) to attend Mobile Monday at Google in Kendall Square last night. OK, maybe I can. But I did pull out a few interesting nuggets from the presentations and demos, which … Continue reading “Google’s Rich Miner Says Timing Is Everything for Android: Three Thoughts from Mobile Monday”
Boston VCs Back Smooth-Stone
Three Boston-area venture capital firms have led a new $48 million financing round for Smooth-Stone, a chip startup based in Austin, TX. Battery Ventures, Flybridge Capital Partners, and Highland Capital Partners were joined in the investment deal by ARM, Advanced Technology Investment Company (ATIC), and Texas Instruments. The financing news was announced in a press … Continue reading “Boston VCs Back Smooth-Stone”
A123 Spinoff, 24M Technologies, Raises $10M to Develop Energy Storage Systems for Utilities, Electric Vehicles
There’s a new cleantech player in town. As we and other media outlets reported last week, Watertown, MA-based A123Systems (NASDAQ: [[ticker:AONE]]) has spun out a new company called 24M Technologies, which is developing a new kind of energy storage system that combines aspects of lithium-ion and flow battery technologies. The company announced today it has … Continue reading “A123 Spinoff, 24M Technologies, Raises $10M to Develop Energy Storage Systems for Utilities, Electric Vehicles”
Ayeah Games, With New Seed Capital in Hand, Looks to Create “Social Reality” Games
When it comes to social games, there isn’t all that much going on around Boston—at least compared to places like the San Francisco Bay Area, Germany and Eastern Europe, or Buenos Aires. But that might be about to change. Ayeah Games, a stealthy Boston startup, is working on what it calls a “social reality” game, … Continue reading “Ayeah Games, With New Seed Capital in Hand, Looks to Create “Social Reality” Games”
Are Casual Games Dead? Viximo and Z2Live Founders Weigh In Coast-to-Coast on Social Gaming Movement
There’s a little East Coast-West Coast brouhaha going on in the world of video games. I just spent a couple years in one of the casual gaming (and core gaming) epicenters of the world—Seattle. Little did I know the city might be becoming a graveyard of companies stuck in the past. At least, that could … Continue reading “Are Casual Games Dead? Viximo and Z2Live Founders Weigh In Coast-to-Coast on Social Gaming Movement”
IBM Buys Unica for $480M, Moves Deeper Into Marketing and E-Commerce
It’s one of New England’s biggest tech acquisitions of the year. Waltham, MA-based Unica Corporation (NASDAQ: [[ticker:UNCA]]) announced today it is being bought by IBM (NYSE: [[ticker:IBM]]) for about $480 million in cash. The deal is expected to close in the fourth quarter of 2010. Unica makes marketing and Web analytics software for big companies … Continue reading “IBM Buys Unica for $480M, Moves Deeper Into Marketing and E-Commerce”
American Tower to Raise $700M for Acquisitions
Boston-based American Tower, an owner and operator of wireless towers and other communications sites, said today it plans to raise $700 million in a registered public offering of senior unsecured notes due September 2020. The company says the net proceeds of the sale, expected to be about $693.8 million, will be used to finance the … Continue reading “American Tower to Raise $700M for Acquisitions”
Arbor Networks Acquisition Is a Tale of Two Cities—and a Strategic Move Into Wider World of Wireless
If Arbor Networks were a tree, its roots would be in Michigan. Its branches and leaves (and some of its caretakers) would be in Massachusetts. And its proud new owners would be in Texas and Washington, DC—with a lot to live up to. Earlier this week, Chelmsford, MA-based Arbor Networks, a maker of software for … Continue reading “Arbor Networks Acquisition Is a Tale of Two Cities—and a Strategic Move Into Wider World of Wireless”
Marginize, a TechStars Firm, Raises $650K to Show What People Are Saying About Websites
Score one for the social Web. Cambridge, MA-based Marginize, an Internet startup led by entrepreneur Ziad Sultan, has closed its first round of venture funding, worth $650,000, to pursue a rather intriguing idea. The company wants to create a parallel, “augmented” version of the Web that lets you see what everyone is saying about any … Continue reading “Marginize, a TechStars Firm, Raises $650K to Show What People Are Saying About Websites”
A123Systems Spins Off New Battery Firm, Drops Out of Chrysler Deal, Posts Quarterly Loss
A123Systems’ $370 million IPO last September was the shot heard around the world—at least the alternative-energy world. I can personally attest to the fact that energy storage and electric vehicle companies from coast to coast were following the Watertown, MA-based battery maker’s performance very closely. Now they have some new things to chew on. Late … Continue reading “A123Systems Spins Off New Battery Firm, Drops Out of Chrysler Deal, Posts Quarterly Loss”
Photos from the Xconomy H-O-R-S-E Tourney, and Our First Champion (*)
All in all, I’d say the first Xconomy H-O-R-S-E basketball tournament, held last Friday afternoon, was an unqualified success. Not for my Xconomy team (Xconomy I), which flamed out in the first round—some guy with the initials GH couldn’t buy a bucket—but rather for the couple dozen folks who showed up from the local startup … Continue reading “Photos from the Xconomy H-O-R-S-E Tourney, and Our First Champion (*)”
Is Boston Becoming a Hub for Female Tech Entrepreneurs? Maybe, and Here’s Why
When most people think of the New England tech startup scene, they probably don’t think of a bunch of women. Like most places I’ve visited or lived in, the Boston technology community tends to feel pretty male-dominated. But that might be changing fast. As my colleague Bruce reported today, a CB Insights demographic survey of … Continue reading “Is Boston Becoming a Hub for Female Tech Entrepreneurs? Maybe, and Here’s Why”
Tektronix Acquires Arbor Networks
Arbor Networks, a Chelmsford, MA-based developer of security and network management software, has agreed to be acquired by Tektronix Communications, the Texas-based firm now owned by tech conglomerate Danaher (NYSE: [[ticker:DHR]]). Terms of the deal weren’t announced, but it is expected to close next month. Arbor Networks was founded in 2000 by University of Michigan … Continue reading “Tektronix Acquires Arbor Networks”
Pivot Picks Up $3.5M
Pivot, a New Jersey-based maker of software for trading and financial applications, has raised $3.5 million in debt financing from Wellington Financial. Pivot has an office in Cambridge, MA, and was formerly headquartered there. The new money will be used to support Pivot’s growth as it tries to sign up more trading desks, where its … Continue reading “Pivot Picks Up $3.5M”
ThingMagic’s Rollercoaster Journey—From the Internet of Things to the Calculus of Reality
ThingMagic is a 10-year-old technology company whose core idea seems as fresh today as when it first started. The bad news: that means it may have been too far ahead of its time. The good news: times are changing. The Cambridge, MA-based firm was founded by five MIT Media Lab alums, who had the goal … Continue reading “ThingMagic’s Rollercoaster Journey—From the Internet of Things to the Calculus of Reality”
Apredica Acquired by Cyprotex
Watertown, MA-based Apredica, a company that does preclinical toxicology assessments of drug candidates, is being acquired by U.K.-based contract research firm Cyprotex for £2.68 million in cash and stock. Katya Tsaioun, the co-founder and CEO of Apredica, will become chief scientific officer of the merged company. Cyprotex says all of Apredica’s employees will remain with … Continue reading “Apredica Acquired by Cyprotex”
Why Micro-VCs Are So Damn Friendly, and More Insights from Rob Go’s and David Beisel’s Blogs
Some quick observations on the micro VC phenomenon, spurred by running into Rob Go this morning at the Andala Café in Central Square…Go is the co-founder of NextView Ventures, a seed-stage tech investment firm (previously he was with Spark Capital). “Micro VC” refers to the emerging segment of venture capital in which investors put small … Continue reading “Why Micro-VCs Are So Damn Friendly, and More Insights from Rob Go’s and David Beisel’s Blogs”
How Do You Spell Innovation? H-O-R-S-E. Tourney in Kendall Square Tomorrow
Calling all basketball players and fans… Want to hang out and shoot some hoops on a summer afternoon? We at Xconomy—OK, at least Bob and I—are excited to invite our readers and members of the startup and innovation community to an informal H-O-R-S-E tourney tomorrow. Come one, come all. It will take place from 1:00-2:30 … Continue reading “How Do You Spell Innovation? H-O-R-S-E. Tourney in Kendall Square Tomorrow”
Viridity Raises $8M More, Looks to Make Data Centers More Energy Efficient by Tracking Each IT Component
Remember last year when there was that flap about how much power it takes, and how much carbon is emitted, when you do a Google search? OK, so maybe you can do something like 15,000 searches before you reach the environmental footprint of a cheeseburger. But there are still a slew of companies tackling the … Continue reading “Viridity Raises $8M More, Looks to Make Data Centers More Energy Efficient by Tracking Each IT Component”
Skyhook Wireless Digs In, Touts Location Patents After Apple Drops Technology From iPhone
When it comes to mobile software and devices these days, it’s all about location, location, location. And if you’re a small, leading-edge company in the sector—if you’ve played a pioneering role in bringing location-based technologies to market, and millions of devices use your software—well, you’d better watch your back. That’s my take upon hearing the … Continue reading “Skyhook Wireless Digs In, Touts Location Patents After Apple Drops Technology From iPhone”
SilverRail, $9M in Tow, Goes After International Railway Market in Online Travel
It’s about time someone cracked the online travel search-and-ticketing market for trains. Hotels and airlines are pretty crowded sectors, especially in the U.S., but railway systems might hold some promise—at least abroad. Enter SilverRail Technologies, a young company based in the Boston and London areas. Founded a year ago by CEO Aaron Gowell, formerly of … Continue reading “SilverRail, $9M in Tow, Goes After International Railway Market in Online Travel”