The Deal
Tuesday, September 2, 
2:48 pm

[Posted on March 31, 2008 - 5:02 PM]

Energy

6N Silicon

6N Silicon Inc. of Toronto, a developer of solar-grade silicon purification technology, has secured $20 million in second-round financing. The company previously raised a $5.7 million first round in July. The new investment was led by Good Energies of Basel, Switzerland, and joined by returning backers Ventures West and Yaletown Venture Partners, both of Vancouver, British Columbia. 6N Silicon, which will use the capital to move into commercial production, was founded in 2006 to develop a process for purifying metallurgical-grade silicon into solar-grade silicon using a low-cost metallurgical processing. The company's purification process is designed to greatly reduce the cost of making solar panels for the photovoltaic industry. -- G.W.

Internet

Reality Digital

San Francisco's Reality Digital Inc., a provider of brand-focused social media technology for businesses, has received a $6.3 million Series B round from OpenView Venture Partners of Boston. OpenView senior managing director Scott Maxwell and venture partner Mark Barry will join the company's board. Reality Digital provides an on-demand platform that allows businesses to add video-sharing, social media and networking features, and other services to their digital media offerings. The new funds will be used for business and product development. -- G.W.

Wireless

Mobango

Mobile telephone social network operator Mobango Ltd. has raised $5.7 million in a second round of investment. The financing was led by Italian venture firm Innogest SGR SpA's $126 million fund Innogest Capital. Doughty Hanson & Co.'s Technology Ventures fund, an investor in Mobango, also contributed to the round. Mobango will use the new funds to accelerate product development, strengthen its infrastructure and increase market penetration. As well as its social networking facilities, Mobango lets users create, upload, store and play content for mobile devices. It has about 3 million users in the U.K., U.S., India and South Africa and recently launched Spanish and German versions. -- Jonathan Braude

Tendril

Boulder, Colo.-based Tendril Inc. has completed a $12 million Series B funding led by New York-based RRE Ventures LLC. Also participating in the round were Vista Ventures of Boulder, Access Venture Partners of Westminister, Colo., and Appian Ventures Inc. of Denver. The company's energy management technology for the utility industry facilitates a dialogue between consumers and utilities to encourage more consumer-centric control of energy consumption. Tendril designs software that sits on top of low-power wireless sensor and control networks. The technology allows users to monitor and manage noncomputerized activities related to buildings, factories, homes and other locales. -- G.W.

Networking

MediaXstream

San Jose, Calif.-based MediaXstream Inc. has closed a $10 million Series A round led by Constellation Ventures of New York and joined by Columbia Venture Corp. of Vancouver, Wash. The startup provides carrier-neutral, transport and managed network services for the production and broadcast industries. MediaXstream specializes in the digital and high-definition formats used in sports, TV and film production, news, mobile content and Internet-based TV. -- G.W.

Software

Vindicia

San Mateo, Calif.-based Vindicia Inc., a provider of on-demand payment management software, has closed a $5.6 million Series C funding. Leader Ventures of San Francisco co-led the financing, joined by existing investor DCM of Menlo Park, Calif. Vindicia has raised a total of $8.7 million in outside funding since its inception. The funding will be used for the company's growth and product development of Vindicia's on-demand billing and fraud management technology for online merchants. -- G.W.

Medical devices

TriVascular2

Santa Rosa, Calif.-based TriVascular2 raised $65 million in new investment from previous and new investors to spin off assets and intellectual property from Boston Scientific Corp. and complete clinical development of its endovascular repair products. New investors MPM Capital of San Francisco and New Enterprise Associates of Menlo Park, Calif., led the investment, joined by existing backers Delphi Ventures of Menlo Park and San Francisco's Kearny Venture Partners. The deal will allow TriVascular2, which was acquired by Natick, Mass.-based Boston Scientific in 2005, to resume development and clinical advancement of programs that the company suspended in June 2006 as part of an overall corporate strategy to divest nonstrategic assets. -- Clifford Carlsen

Biotechnology

Transave

Biotechnology company Transave Inc. of Monmouth Junction, N.J., has completed a $35 million Series D financing. The round was led by Quaker BioVentures of Philadelphia and Bessemer Venture Partners of Menlo Park, Calif. Also participating in the financing were Boston-based TVM Capital, Prospect Venture Partners of Palo Alto, Calif., Fidelity Biosciences of Cambridge, Mass., Forbion Capital Partners of Naarden, the Netherlands, and Easton Hunt Capital Partners of New York. Joining the company's board are Richard Kollender of Quaker and Steve Kraus of Bessemer. Other investors in Transave include ABN Amro Capital, Sycamore Ventures, Cdib Bioscience and Musket Research Associates. Transave, which is developing treatments for lung diseases, will use the funding to take its lead product, a treatment for cystic fibrosis, through Phase 2 studies. The company was funded as an early-stage startup in August 2000. -- G.W.



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