Altra Biofuels Spinoff EdenIQ Gets $12.4M

EdenIQ, the biofuels yield enhancement technology firm that is a spinout of Los Angeles-based Altra Biofuels, has scored a $12.4M venture funding round. According to EdenIQ, the Series B funding round was led by Draper Fisher Jurvetson, and also included The Westly Group, Kleiner Perkins Caufield & Byers, Cyrus Capital, Angeleno Group, Element Partners, Morgan Stanley & Company, Advanced equities, OmniNet, Nimes Capital, and others. EdenIQ was spun out of Altra Biofuels in April of 2008.