I’ve been quite fascinated by electric car firm Better Place since I read up on how the company was founded by former SAP executive Shai Agassi in the excellent book ‘Start-up Nation’, which tells of Israel’s historical entrepreneurial DNA and tech success stories.
Basically, Better Place aims to reduce global dependency on petroleum through the creation of a market-based transportation infrastructure that supports electric vehicles, relying on renewable energy from solar arrays and wind farms instead of oil. The startup, founded just 2 years ago, is currently building its [...]
Since 1990, FloDesign has been making aerospace and jet propulsion equipment. It is now bringing this experience to the design and manufacture of wind turbines under the banner of FloDesign Wind Turbine, and has raised $34.5 million (PDF) to do make its novel idea a reality.
The news is significant for two reasons. First, it has recruited a top-tier crop of investors, including Kleiner Perkins Caufield & Byers (going in for a second round), Goldman Sachs and VantagePoint Venture Partners, as well as Technology Partners. These guys don’t invest in just anyone, and are making ever more [...]
Bridgelux, maker of the chip that is the light-emitting part of LEDs, has raised $50 million in a fourth round of venture capital, according to a filing with the SEC. Based in Sunnyvale, Calif., the company is backed by VantagePoint Venture Partners, Chrysalix Energy, Harris & Harris Group, VentureTech Alliance, El Dorado Ventures and Doll Capital Management.
Progress Software, maker of applications used to build the infrastructure of retail, manufacturing, financial or government organizations, has acquired Savvion, a producer of software targeted at business management, for an estimated $49 million, according to Private Equity Hub. Savvion, based in Santa Clara, Calif., was backed by H.I.G. Capital, Redwood Ventures, TransCosmos, Westaim Partners, Walden International and VantagePoint Venture Partners. It had raised about $52 million to date.
WageWorks, maker of a web-based platform that makes it easier for employers to provide and manage benefits programs for their workers, has brought in $20 million in promissory notes, stock and warrants, according to a filing with the SEC. Based in San Mateo, Calif., the company is backed by Advent International, Camden Partners, VantagePoint Venture Partners and Arrowpath Venture Partners.