Thursday, September 16, 2010Astute Networks Gains New FundingSan Diego-based Astute networks, a developer of blade storage products, said Thursday that it has raised a new, "significant" capital investment from Tallwood Venture Capital. Amount of the funding was not disclosed. According to Astute, the new funding will go toward expanding its existing company base and gain design wins for its blade storage products. Astute's last, announced round had been in 2004, from backers Dali-Hook Partners, KeyNote Ventures, Scale Venture Partners, Sevin Rosen Funds, (More info...)
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Lalawag, LA's Technology Gossip Blog, Shuts SiteLalawag, the technology-meets-gossip blog run by Sean and Laurie Percival, is shutting down, according to a post from the two Thursday afternoon. According to the Percivals, they no longer have time to properly run the blog, due to a tough job and a new baby. The site had originally been conceived as a Los Angeles version of the popular Silicon Valley blog Valleywag--at least, according to Sean in conversations with socalTECH over the years--looking to cover the re-emerging Los Angeles technolog (More info...)
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Insights: VCs Planting the Seeds for a Cleantech Bumper Crop in L.A.For today's Insights and Opinions section, we have an article from Dr. John Paglia, an associate professor of finance and senior researcher of the Pepperdine Private Capital Markets Project.
Los Angeles boasts 543,835 privately held companies -- among the largest concentrations of small businesses in the world, according to the National Association of Women Business Owners. The city is also home to more than 1,100 startup companies -- the type of companies with the potential for high-growth (More info...)
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X Prize Awards $10M In Progressive Automotive X Prize
The X Prize Foundation has awarded three teams a total of $10M, in its Progressive Automotive X Prize, the group announced today, including team Edison2 of Lynchburg, Virginia, X-Tracer of Winterthur, Switzerland, and Li-ion Motors Corp. of Mooresville, North Carolina. The three were selected from a field of 111 teams, representing 136 vehicles. Edison2 won the $5M mainstream class for the prize, the Li-ion entry received $2.5M for the alternative side-by-side class, and the X-Tracer Team won (More info...)
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Autobytel Forms Acquisition SubsidiaryIrvine-based Autobytel, which provides automotive marketing and information services, appears to be in the midst of some acquisition-related activity, according to regulatory filings filed by the firm today. According to filings with the SEC, the firm has created an "Autobytel Acquisition Subsidiary", which names three of its officers as executives and directors. No details on what the subsidiary might be about, or if the subsidiary is actually making an acquisition, have been released by the co (More info...)
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Evolution Robotics Hits Retail Market With Floor CleanerPasadena-based Evolution Robotics, the robotics technology startup backed by Idealab, said today that it has linked up with a number of retail partners on its Mint Automatic Floor Cleaner--the firm's entree into the household robot market. The firm--which has previously focused on licensing its technology to researchers, toy companies, and others--said it has inked deals to sell its robot through Amazon.com, Frontgate, Hammacher Schlemmer, Home Shopping Network, RobotShop.com and SkyMall. Evolut (More info...)
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Hulu Plans Seattle OfficeLos Angeles-based Hulu, the online video streaming site, said today that it is planning to open up a new Seattle office by the end of the year. According to Hulu, the new development center will work with the firm's development teams in Los Angeles and Beijing. Hulu said that the move comes as it looks to find the most talented software engineers, and will be the fifth office for the firm. The company currently has approximately 230 employees spread across Los Angeles, New York, Beijing, and Chi (More info...)
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Ad.ly, Diversifying From Twitter, Looks To FacebookLos Angeles-based Ad.ly, the Twitter advertising startup, is further looking to diversify its service from Twitter, saying this week that it has added support for Facebook. The firm--which originally started as a way for celebrities, athletes, and others on Twitter to place advertising in their stream--said the move is part of a move to extend its reach beyond Twitter, Twitter apps, and MySpace. Ad.ly had added support for MySpace in June, shortly after Twitter said it would not allow other comp (More info...)
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Penny Auction Solutions Gets $10M Equity LineSan Diego-based Penny Auction Solutions, a firm looking to enter into the online "penny auction" market, announced this morning that it has gained a $10M, equity line of credit from Kodiak Capital Group. The firm said it will use the funding to establish its operations. The firm says it hopes to begin offerings its services early next year, in the penny auction entertainment shopping area, and also is looking to become a publicly traded company this fall. The firm said the financing will be avai (More info...)
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CloudBasic Launches Cloud Development ToolsIrvine-based startup CloudBasic is one of the startups which launched a product this week at the DEMO conference in Silicon Valley, saying that it has released the CloudBasic Application Platform, a cloud application environment targeted at Microsoft .NET developers and business users. According to CloudBasic, its product allows nontechnical users to create cloud-based applications using familiar, C# and VB.NET scripting, Excel-type formulas, and SQL to create enterprise applications. The firm s (More info...)
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Mojix In Japanese Distribution Deal With IBM JapanLos Angeles-based Mojix, a developer of RFID readers, reported earlier this week that it has inked a distribution agreement with IBM in Japan. According to Mojix, IBM will provide system integration systems and customer support for its products int he Japanese market, and distribute the Mojix STAR system itself and through qualified resellers in Japan. Mojix, which is headed by Ramin Sadr, has developed RFID technology based on technology and techniques originally honed at JPL/NASA for deep spac (More info...)
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ResumeBucket Adds New Resume ToolsLos Angeles-based ResumeBucket, the online job search site co-founded by Josh Stomel and Ted Hekman, said this week that it has launched a new set of tools on the site. According to the firm, it is offering up a new resume builder to help people create a resume; ability to create up to 20 different resumes tailored to different opportunities, industries, or job titles; and sample resumes for job seekers looking for a start point for their own resume. The site allows users to create their own, pe (More info...)
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Evite Redesigns SiteLos Angeles-based Evite, the online invitations business which is a unit of IAC, said today that it has launched an extensive redesign of the firm's website. The service--which had been showing its age--looks to have overhauled its user interface to make it much easier and cleaner to send an invitation; has added new card designs; added social features via an "Event Conversation" product; and more. Among the social features are the ability for guests to upload pictures, ask questions, post their (More info...)
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Occam Networks Acquired By CalixSanta Barbara-based Occam Networks, a developer of broadband switching equipment for the rural telecom market, is being acquired by Calix, the firms announced this morning. The deal is worth approximately $171M in cash and stock, or approximately $7.75 per share of Occam Networks stock. As part of the acquisition the firms said that one non-management member of Occam's current board will be appointed to serve on the Calix board of directors. Petaluma-based Calix is a developer of broadband commu (More info...)
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Independa Gets Seed Funding, LaunchesSan Diego-based Independa, a startup developing products to help senior citizens live independently longer via technology, said this week that it has received a second round of seed funding, and launched its products. Amount and source of the funding was not disclosed. Independa is headed by Kian Saneii, who was most recently General Manager of Websense Wireless. Independa said its products include phone-enabled medication and calendar functionality, a tablet PC which connects to social sites, r (More info...)
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USC Stevens Appoints Two DirectorsThe USC Stevens Institute for Innovation, the group at the University of Southern California run by Krisztina Holly, and which was kick started by a major donation from Sand Hill road venture capitalist and USC trustee Mark Stevens, said Wednesday that it has appointed two directors to the institute. USC Stevens said it has appointed Rick Friedman as Senior Director of Technology Advancement and Licensing, and expanded Dr. Richard Hull's role to Senior Director of New Ventures and Alliances. Fri (More info...)
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