Friday, October 27, 2006Transonic Combustion Gets Funding From Rustic Canyon, Venrock, KhoslasocalTECH has learned that Camarillo-based Transonic Combustion, a company developing technology for reducing emissions and improving gasoline energy efficiency, has raised an unannounced round of funding from Venrock Associates, Rustic Canyon, and Khosla Ventures. The investment is the latest in a string of alternative energy or energy conservation investments by Vinod Khosla, who has also backed two other Southern California-based firms, Cilion, and Altra Biofuels. Transonic Combustion did not (More info...)
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Study: High Tech CEOS Gets Healthy Pay IncreaseA study released Thursday by Ernst & Young, J. Robert Scott Executive Search, and Wilmer Cutler Pickering Hale and Dorr LLP reports that 2006 cash compensation for CEOs in the IT and Life Sciences industries showed a significant pay increase this year. The 2006 Compensation and Entrepreneurship Reports in IT and Life Sciences shows that IT CEOs received a 4.3% increase in base salary, and overall 17% in total cash compensation; Life Sciences CEOs had a similar increase, with a 5.1% base salary i (More info...)
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Headcase Humanufacturing Finds VCLos Angeles-based Headcase Humanufacturing, a stealth company developing online characters for virtual worlds, has received a $900,000 investment from True Ventures, socalTECH has learned. Other investors in the deal include Burnt Norton, according to the company. True Ventures has backed such companies as GigaOm, Automattic, and Meebo.
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GluMetrics Funds Glucose Monitoring EffortsIrvine-based GluMetrics, a company developing glucose monitoring devices, has received an unannounced round of venture funding. Investors in the firm include Advanced Technology Ventures and Versant Ventures, according to the firms' web sites. GluMetrics is headed by serial entrepreneur Bill Markle, who also founded Tensys Medical and Masimo. The round closed earlier in the year, according to regulatory filings.
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TriZetto Buys Plan Data ManagementNewport Beach-based TriZetto Group, announced this morning that it is in a definitive agreement to acquire Plan Data Management, a New York-based provider of software for managing Medicare plans. Financial terms of the deal were not disclosed. Plan Data MAnagement's software and services are used by Medicare Advantage, Medicare Part D, and Medicaid plans to reduce their administration costs and address fraud and abuse.
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Altra Breaks Ground On Nebraska Ethanol FacilityLos Angeles-based Altra, a venture backed developer of renewable fuel projects, said Thursday that it has broken ground on the construction of an ethanol production facility. The 360 acre, $200M project will have a capacity of 110 MMGY of ethanol capacity, and is expected to be complete in mid-2008. Altra is backed by Khosla Ventures, Kleiner Perkins Caufield & Byers, and other investors.
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DAVE.TV Adds White Label Social Video PortalsSanta Monica-based DAVE Networks, which operates the DAVE.TV online user-generated video web site, said this week that it is opening up its technology with a new application programming interface (API). The API will enable any company to build their own video social community. The firm said that the new features will enable brands to create their own social community portals. Arizona-based competitor vSocial, another user-generated video site, also announced an API and focus on providing compani (More info...)
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Boingo Expands In AsiaSanta Monica-based Boingo Wireless has expanded its Wi-Fi network again, this time in Asia, saying Thursday that it has partnered with Singapore Telecommunications Ltd. (SingTel), Singapore-based StarHub and Phillipinnes-based INNOVE with hot spot roaming agreements. Singapore Telecommunications operates around 347 hotspots in Singapore in shopping centers, restaurants, and other locations. Starhub operates a wireless network in The Coffee Bean & Tea Leaf, restaurants, and at the SunTec Conventi (More info...)
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