Tuesday, January 17, 2012
MalibuIQ, HRL Team On Commercialization Effort
Malibu-based MalibuIQ and HRL Laboratories, the former research and development arm of Hughes Aircraft which was previously known as Hughes Research Laboratories, said Tuesday that they have tied together to commercialize inventions and IP from HRL. According to the two, they will look to commercialize HRL's advancements in the areas of electronics, energy, life sciences, networking and communications. The new effort is being funded by Winn Interests, Manti Ventures, Bravo Ventures, TomorrowVentures, Paul Candies, Philip M. Plant, and General Motors Holdings LLC. Size of the investment was not disclosed. Winn Interests is the investment firm of Texas oil and gas wildcatter Charlie Winn; Manti Ventures invests the money of Texas oil firm Manti Resources, founded by Lee Barberito. TomorrowVentures is the investment arm of Google's Eric Schmidt. MalibuIQ's founders are David Moxam (Authentix), Gregory Kovacs (DARPA, Cepheid, Stanford University), Sha-Chelle Devlin Manning (Manti Ventures), and Gregory Corona (Mozido, Lakewood Capital). MalibuIQ is co-located at HRL's hillside campus, which overlooks the city of Malibu.