Category: Boston

IRobot Asked to Speed Delivery of “Son of Packbot” Prototypes

All the fuss over iRobot’s Packbot military robot over the past year, including the company’s successful patent-infringement and misappropriation-of-trade-secrets actions against Packbot-clone-maker Robotic FX, may have left you with the impression that the Packbot is iRobot’s key product for the defense community. In fact, the U.S. Army is just as excited, if not more enthused, … Continue reading “IRobot Asked to Speed Delivery of “Son of Packbot” Prototypes”

Out to Shed Light on Venture Capital’s Dark Side, Former VC Nijhawan Starts New Role at BU

Two-hundred-odd deals sourced. One deal done. Something wrong? Vinit Nijhawan thinks so, and the well-known local entrepreneur, angel investor, venture capitalist (make that former VC), chairman of TiE-Boston, and Xconomist, is on a mission to figure out what. After taking off his venture hat last August and evaluating many options for what to do next, … Continue reading “Out to Shed Light on Venture Capital’s Dark Side, Former VC Nijhawan Starts New Role at BU”

A Walk on the Dark Side

I have been part of the entrepreneurial ecosystem for over 25 years, mostly as an entrepreneur but also as a VC and angel investor. I firmly believe that the symbiotic relationship of entrepreneurs and smart capital is the key to economic development around the world. I have spent the past six years either running VC-backed … Continue reading “A Walk on the Dark Side”

Enterasys, Back from the Brink, Blocks Bad Behavior on Wireless Networks

Last summer system administrators at Duke University in North Carolina noticed a rash of failures across the campus Wi-Fi network. Logs pointed to a storm of requests for Internet connections—up to 18,000 per second—from the nifty new iPhones that students were toting onto campus (Apple had released the device just two weeks earlier). In press … Continue reading “Enterasys, Back from the Brink, Blocks Bad Behavior on Wireless Networks”

Slow Going For Bay State Economy—Tech A Small Bright Point

In the face of a declining housing market, the high costs of gasoline and heating oil, and fallout from the subprime mortgage debacle, third-quarter 2007 growth estimates for the Massachusetts economy have been revised downward, according to MassBenchmarks Current Economic Index figures released today. The outlook is for slower growth in the first half of … Continue reading “Slow Going For Bay State Economy—Tech A Small Bright Point”

Elixir Postpones IPO

What was looking to be the first Boston-area IPO of the year has been put off. Cambridge, MA-based Elixir Pharmaceuticals, which is developing treatments for diabetes, obesity, and other metabolic diseases, has postponed its offering of five million shares, according to the Boulder, CO-based research firm Morningnotes. Elixir, whose investors include MPM Capital, Oxford Bioscience … Continue reading “Elixir Postpones IPO”

Steve Jobs Sprinkles a Bit of Magic Apple Dust on Boston’s Skyhook

“It’s probably the biggest publicity event any company can have,” says Ted Morgan. Is the CEO of Boston-based Skyhook Wireless talking about running a Superbowl ad? Being endorsed by Oprah, perhaps? Or maybe ringing the opening bell on the New York Stock Exchange? No. He’s talking about getting a mention from Steve Jobs in the … Continue reading “Steve Jobs Sprinkles a Bit of Magic Apple Dust on Boston’s Skyhook”

Peptimmune, Inc. Garners $8,200,000 Series D Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e0e7bbed-5567-43e6-875f-7113717fdfe4&Preview=1 Date 1/17/2008 Company Name Peptimmune, Inc. Mailing Address 64 Sidney Street Cambridge, MA 02139 Company Description Peptimmune is a clinical stage biotechnology company that is utilizing both novel and proven technologies to improve the therapeutic management of chronic autoimmune and metabolic disorders. Website http://www.peptimmune.com Transaction Type Venture Equity Transaction Amount $8,200,000 … Continue reading “Peptimmune, Inc. Garners $8,200,000 Series D Financing Round”

Folkman Leaves Behind an Inspiring Legacy of Science, Learning, and Startups

Back when I was starting out in some lowly jobs at the Longwood Medical area, I was constantly reminded of the greatness of certain of the people around me. But one of those people—Judah Folkman—stood out, not only because of his contagious delight and fascination with science, but because of his kindness and unassuming manner. … Continue reading “Folkman Leaves Behind an Inspiring Legacy of Science, Learning, and Startups”

Ethanol Minus the Corn: ATV’s Bill Wiberg on Coskata and Its Big Deal With GM

Switching the nation’s vehicle fleet from gasoline to biofuels such as corn-derived ethanol could reduce the nation’s dependence on foreign oil, which is why President Bush wants the U.S. to produce 35 billion gallons of alternative fuels by 2017. But there are a couple of big problems. So much of the nation’s corn supply already … Continue reading “Ethanol Minus the Corn: ATV’s Bill Wiberg on Coskata and Its Big Deal With GM”

First Rhode Island Startups Closing in on Tax Credit Under New Stimulus Program

If Massachusetts is the New England innovation economy’s Goliath (and we’d argue that it is), Rhode Island is David. And the state has a new weapon in hand as it goes up against its much larger neighbor: a targeted tax credit of up to $100,000. Rhode Island hopes the credit will encourage investment in its … Continue reading “First Rhode Island Startups Closing in on Tax Credit Under New Stimulus Program”

Public Display Obtains $250,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dde50f3b-dbb3-4774-b537-72fb0d140068&Preview=1 Date 1/16/2008 Company Name Public Display Mailing Address 150 Chestnut Street Providence, RI 02903 Company Description We’re developing a set of useful and, we hope, cool applications for extracting, understanding, and structuring information from the web. We’re making use of developing standards – such as iCal, CalDAV, and hCal; and, we … Continue reading “Public Display Obtains $250,000 New Funding Round”

Nanoptek Corporation Obtains $4,700,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2d285ac8-8704-4258-ac03-8b01b7de2b14&Preview=1 Date 1/16/2008 Company Name Nanoptek Corporation Mailing Address 8 Clock Tower Place Maynard, MA 01754 Company Description Nanoptek Corporation is developing technology that produces hydrogen directly from sunlight and water with a proprietary nano-engineered photocatalyst (patents pending). Nanoptek’s Solar Hydrogen Generators will employ this photocatalyst to produce low-cost carbon-free hydrogen anywhere … Continue reading “Nanoptek Corporation Obtains $4,700,000 Series A Funding Round”

The A123 Story

As part of the MIT Clean Energy Entrepreneurship Prize Speaker Series, Bart Riley, co-founder and CTO of advanced lithium-ion battery startup A123, will speak on “Starting a Successful Company Based on MIT Lab Technology.” From the event description: “Dr. Bart Riley has more than fifteen years of experience in technology development and commercialization in the … Continue reading “The A123 Story”

New VMware Acquisition Thinstall Helps Companies Say Goodbye to Installing Windows Software

EMC virtualization subsidiary VMware (NYSE: [[ticker:VMW]]) has a new subsidiary of its own: San Francisco-based Thinstall, which makes a system that lets corporate employees run Windows programs on their desktops without actually installing them. In today’s announcement of the acquisition, VMware vice president Jeff Jennings said Thinstall has “the best technological approach in the market” … Continue reading “New VMware Acquisition Thinstall Helps Companies Say Goodbye to Installing Windows Software”

MIT and Italy’s Eni Sign $50 Million Energy Research Agreement

MIT and the Italian energy giant Eni today announced a five-year, $50 million research agreement focused on a wide array of energy studies and initiatives. Half the funding will be used to create the Eni-MITEI (for MIT Energy Initiative) Solar Frontiers Research Program, a far-reaching collaboration whose six specific areas of focus will include nano-structured … Continue reading “MIT and Italy’s Eni Sign $50 Million Energy Research Agreement”

Pixel Qi Out to Bring Principles of Inexpensive Laptop Design to Consumer Market: Former One Laptop CTO Mary Lou Jepsen On Her New Startup

If only laptops could run on qi—the spiritual energy that, in traditional Chinese philosophy, pervades all things. Well, if anyone has come close to making that happen, it’s Mary Lou Jepsen, founding chief technology officer at the Cambridge, MA-based One Laptop Per Child Foundation (OLPC). At the foundation, Jepsen did what computer-industry executives said couldn’t … Continue reading “Pixel Qi Out to Bring Principles of Inexpensive Laptop Design to Consumer Market: Former One Laptop CTO Mary Lou Jepsen On Her New Startup”

Pervasis Therapeutics Secures $9,750,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=78a8bb6d-7436-4b20-a614-b0c9b8446bd5&Preview=1 Date 1/15/2008 Company Name Pervasis Therapeutics Mailing Address One Kendall Square, Building 600 Cambridge, MA 02139 Company Description Pervasis Therapeutics is focused on creating biologically active vascular technologies to treat significant unmet needs in cardiovascular disease. Website http://www.pervasistx.com Transaction Type Venture Equity Transaction Amount $9,750,000 Transaction Round Undisclosed Proceeds Purposes The … Continue reading “Pervasis Therapeutics Secures $9,750,000 New Funding”

Seeding your Web 2.0 Company

MITX and K&L Gates sponsor a panel discussion on obtaining small seed investments for startups focused on Web-based software, with speakers including Christian Heidelberger, CEO, Nexaweb; Sim Simeonov, partner, Polaris Venture Partners; Michael Spataro, vice president of partnerships, Visible Technologies; and Austin Westerling, partner, Charles River Ventures. From MIT’s event description: “Web 2.0 startups are … Continue reading “Seeding your Web 2.0 Company”

Google Rejects Claims of Jarg-Northeastern U Lawsuit

Google says a patent-infringement lawsuit filed last year by Northeastern University and Waltham, MA, startup Jarg is without merit, according to a story yesterday in Ars Technica. As we explained back in November, the suit, filed in the U.S. District Court for the Eastern District of Texas in Marshall, TX, alleges that Google’s technique of … Continue reading “Google Rejects Claims of Jarg-Northeastern U Lawsuit”

Nearly $35 Billion in Venture Funds Raised in 2007—And Don’t Worry About A Bubble

More venture funds. More money raised. And it’s not a bubble. So reads the trifecta of good news about venture capital in 2007, as reported today by the National Venture Capital Association and Thomson Financial. All told, 235 U.S. venture firms raised $34.7 billion last year, marking the highest level of activity seen since the … Continue reading “Nearly $35 Billion in Venture Funds Raised in 2007—And Don’t Worry About A Bubble”

LogMeIn Files for IPO Worth Up to $86.25 Million

LogMeIn, which provides IT support services and secure connections to PCs and other computers from remote locations, has registered for an initial public offering worth up to $86.25 million, according to SEC documents. The Woburn, MA-based firm intends to trade on the NASDAQ exchange under the ticker symbol LOGM. Founded in 2004 as 3am Labs … Continue reading “LogMeIn Files for IPO Worth Up to $86.25 Million”

Biotech Tuesday

Event host Seth Taylor writes: “Since February 2002, BiotechTuesday has been inviting people from the Boston biotechnology community to trendy spots around town. A variety of industry professionals attend each month, including entrepreneurs, investors, attorneys, scientists, and journalists. No lectures—no agenda. Some call it networking, others just good fun, and the event offers both.” More … Continue reading “Biotech Tuesday”

The VC View on What’s Hot & What’s Not

ACG Boston hosts a DealMakers Breakfast where top venture capitalists—including Steve Ricci of Flagship Ventures, Nina Saberi of Castile Ventures, and Bryce Youngren of Polaris Venture Partners —discuss the sectors that will produce the “next big thing.” Moderated by Mike Oliveri, publisher of the Boston Business Journal and Mass High Tech. Members $50, non-members $100. … Continue reading “The VC View on What’s Hot & What’s Not”

Guidester, Inventor of “Searchandising,” Hires New CEO and Moves to Boston

Big-box retail stores and grocery stores are silent battlegrounds, where product manufacturers bid against each other for coveted positioning in the most visible locations, such as the “end caps” of each aisle, or at customers’ eye level on store shelves. On the Web, the closest analog to a store aisle is a search result page—and … Continue reading “Guidester, Inventor of “Searchandising,” Hires New CEO and Moves to Boston”

Another offering From Athenahealth, Genzyme Teams With Isis, Ze-Gen Takes Out a Loan, & More

It seemed like half of the Boston area’s life sciences sector was out at JPMorgan’s Annual Healthcare Conference in San Francisco last week, but somehow the deals—in that industry and the rest of tech—kept getting done back here in town. —Waltham, MA-based Polaris Venture Partners led a $47 million Series B financing for Montreal-based jewelry … Continue reading “Another offering From Athenahealth, Genzyme Teams With Isis, Ze-Gen Takes Out a Loan, & More”

BackOffice Associates, LLC Receives $30,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2a1138d4-2fe3-49d8-a075-26766bbde9fd&Preview=1 Date 1/14/2008 Company Name BackOffice Associates, LLC Mailing Address 940 Main Street South Harwich, MA 02661 Company Description BackOffice Associates, LLC has a rich and deep history in SAP® data quality that spans more than a decade with an unprecedented and unmarred record of accomplishments. Our history in delivering flawless data … Continue reading “BackOffice Associates, LLC Receives $30,000,000 New Funding Round”

RockBlocks Obtains New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2871a549-79c9-468c-96d4-c35f08024504&Preview=1 Date 1/14/2008 Company Name RockBlocks Mailing Address 321 Commonwealth Road Wayland, MA 01778 Company Description RockBlocks is the world leader in global sourcing systems for retail, consumer goods, branded apparel and footwear. We streamline and automate the entire sourcing process from concept, product development and quotation through PO-generation, assignment of tariffs, … Continue reading “RockBlocks Obtains New Round”

Fanzter Inc. Garners $2,000,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eaa72f67-42b3-4cc4-a1b7-c5ab2b0247cb&Preview=1 Date 1/14/2008 Company Name Fanzter Inc. Mailing Address 75 Crown Street, 2nd Floor Collinsville, CT 06022 Company Description The company is developing a website that brings together product recommendations and pop culture. Website http://www.fanzter.com Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not … Continue reading “Fanzter Inc. Garners $2,000,000 Series A Round”

Perceived Risk, Culture Clash Did in Biogen Idec Sale, CEO Asserts

Pharmaceutical suitors shied away from buying Cambridge, MA-based Biogen Idec (NASDAQ:[[ticker:BIIB]]) last fall because they were too afraid of the risks associated with acquiring a biotech, Biogen CEO James Mullen said in today’s Boston Globe. In San Francisco for this week’s JPMorgan investor conference, Mullen said that pharmaceutical companies are in general much more cautious … Continue reading “Perceived Risk, Culture Clash Did in Biogen Idec Sale, CEO Asserts”

Basis Technology Wins Fight Against Amazon

Cambridge, MA-based Basis Technology, which develops software for multilingual information retrieval, reported today that the Appeals Court of Massachusetts has ruled in its favor in a long-running lawsuit against Amazon involving Basis’s compensation for providing consulting services relating to the formation of Amazon’s Japan operations. Although exact terms of the settlement were not disclosed, a … Continue reading “Basis Technology Wins Fight Against Amazon”

Closing the Back Door: Veracode Verifies Software Code One Bit at a Time

Many companies know that they need outside help evaluating software for security flaws, whether it’s code they’ve written themselves or software they’re considering buying from a third-party vendor. But few organizations (or their vendors) are willing to let the actual source code for their applications leave their premises, over concerns about potential copying and theft. … Continue reading “Closing the Back Door: Veracode Verifies Software Code One Bit at a Time”

First Tenant Moves into New Biogen Idec Incubator, Snares First Funding

Escoublac, the Columbia University Medical Center spinoff company named last month as the first investment of the recently formed Biogen Idec Innovation Incubator, has moved to Cambridge, MA, and secured $6.65 million in funding from Biogen. The funding is one tranche in a Series A round that could total $10 million based on its scientific … Continue reading “First Tenant Moves into New Biogen Idec Incubator, Snares First Funding”

Elixir, NameMedia, Archemix, and More: What’s on Tap for New England IPOs in 2008

Last year was the best IPO year for venture-backed firms since 2004, and a great year for Boston-area offerings in particular, with area firms completing 17 IPOs worth a combined $1.3 billion, second only to San Jose-based firms’ 19 deals worth $2 billion But enough about 2007. There are 10 New England life sciences and … Continue reading “Elixir, NameMedia, Archemix, and More: What’s on Tap for New England IPOs in 2008”

Aushon Biosystems Obtains $4,000,000 Series B Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=984d2a1f-c369-4641-9c19-788fb7596405&Preview=1 Date 1/11/2008 Company Name Aushon Biosystems Mailing Address 43 Manning Rd. Billerica, MA 01821 Company Description Aushon BioSystems Inc. is a small, privately owned corporation applying advanced engineering and systems-engineering approaches to the challenges of developing life science markets. Aushon is leveraging its advanced engineering capabilities to develop a set of … Continue reading “Aushon Biosystems Obtains $4,000,000 Series B Financing”

Cynosure Claims Patent Infringement Against Rival Cosmetic Laser Company

Cynosure, a Westford, MA-based cosmetic laser company, (NASDAQ: [[ticker:CYNO]]) and its largest shareholder are suing a California rival for allegedly infringing on a patent for a liposuction tool. Cynosure and El.En. of Firenze, Italy, allege that CoolTouch of Roseville, CA, violated their patent for using laser energy to remove subcutaneous fat. The lawsuit was filed … Continue reading “Cynosure Claims Patent Infringement Against Rival Cosmetic Laser Company”

Xconomy Poll: What’s the Hardest Thing About Launching A Business? Hey, Verizon, You Listening?

Yes, we are biased—we admit it. But, hey, six months of dealing with Verizon customer service agents who can’t get your order straight, keep losing records of your calls, erroneously cut off your service (and then charge you to have it turned back on)—and are snarly about the whole thing to boot—kind of makes you … Continue reading “Xconomy Poll: What’s the Hardest Thing About Launching A Business? Hey, Verizon, You Listening?”

Microsoft Passed Over Cambridge Enterprise Search Firm Endeca Before Acquiring Norway’s Fast

A Microsoft product manager says the software giant evaluated several companies selling advanced search tools for businesses, including Cambridge, MA, startup Endeca, before deciding to offer $1.23 billion for Fast Search & Transfer of Oslo, Norway, which has a 200-employee outpost in Needham, MA. But that may be just as well for Endeca, in light … Continue reading “Microsoft Passed Over Cambridge Enterprise Search Firm Endeca Before Acquiring Norway’s Fast”

Ten 2008 Predictions from the VC Cheap Seats…

This will be a big year for us in the exponential economy—will we have a recession? Will oil stay above $100 a barrel? Republican or Democrat? Patriots, Celtics, and Red Sox all in one year? While all of these issues are of the utmost importance, I offer up a set of predictions about issues that … Continue reading “Ten 2008 Predictions from the VC Cheap Seats…”

Maine Wind Farm Gets Green Light, But Project Leader Says Cleantech Efforts Face Too Many Snarls

The wind in New England blows mainly against big green-energy projects. At least that’s the assessment of Matt Kearns, an audibly frazzled project manager for Newton, MA-based UPC Wind. Despite winning final approval last week for the creation of New England’s largest wind-energy installation, now under construction on a ridge in northern Maine, Kearns says … Continue reading “Maine Wind Farm Gets Green Light, But Project Leader Says Cleantech Efforts Face Too Many Snarls”

Escoublac Inc. Lands $6,650,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c82448c4-58ab-49c4-90b6-db34f2072c76&Preview=1 Date 1/10/2008 Company Name Escoublac Inc. Mailing Address 14 Cambridge Center Cambridge, MA 02142 Company Description Escoublac was established based on the discovery that osteocalcin, a protein found in bone and dentin, plays a role in energy metabolism and related disorders. The research findings, published in the August 2007 issue of … Continue reading “Escoublac Inc. Lands $6,650,000 Series A Funding”

Ze-Gen Garners $2,500,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=49c1e3ed-2ab1-4d98-91dd-e56da0e4ca85&Preview=1 Date 1/10/2008 Company Name Ze-Gen Mailing Address 70 Franklin Street Boston, MA 02110 Company Description Ze-gen is a leading developer and integrator of waste gasification technology which converts construction and demolition waste (C&D) and municipal solid waste (MSW) into near zero-emissions synthetic natural gas (syngas) and electrical energy. Website http://www.ze-gen.com Transaction … Continue reading “Ze-Gen Garners $2,500,000 New Funding”

XLerant Receives $1,200,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d6aa13a9-2b72-48d2-b3e2-eaf4cc77ff45&Preview=1 Date 1/10/2008 Company Name XLerant Mailing Address 700 Canal Street Stamford, CT 06902 Company Description BudgetPak is the only budgeting tool that actually assists line managers in creating valid cost center budgets the first time around, saving countless hours of budget validation and rework. BudgetPak helps control budget inflation by making … Continue reading “XLerant Receives $1,200,000 Series A Funding Round”

Year’s Best Exits—Top Massachusetts IPOs and M&As of 2007

First (and second and third) impressions are important. But it’s also nice to go out on a sweet note. Yesterday, we brought you a list of Massachusetts’s top 10 venture deals for 2007: you might think of them as great entrances (although most were later- stage deals, so we’re straining a bit). Today we’re looking … Continue reading “Year’s Best Exits—Top Massachusetts IPOs and M&As of 2007”

Ischemix is Stepping Out of the Shadows to Confront Cardiology’s Dirty Little Secret

No doctors thwart the Reaper more often than cardiologists, who routinely pull heart-attack victims back from the brink with artery-opening procedures. But their god-like powers suddenly fade after coronary arteries are unblocked. In fact, much of the harm from heart attacks occurs at that point due to “reperfusion injury,” which occurs when blood flow is … Continue reading “Ischemix is Stepping Out of the Shadows to Confront Cardiology’s Dirty Little Secret”