Monday, October 24, 2011PharmaSecure Finds Further FundingNew Hampshire- and India-based PharmaSecure, a developer of pharmaceuticals authentication technology backed by the Tech Coast Angels, has raised $3.9M in a new funding round, the firm said Monday. The additional capital came from Eric Schmidt's Innovation Endeavors, Gray Ghost Ventures, Healthtech Capital and the TEEC Angel Fund. PharmaSecure develops technology used to allow consumers to uniquely validate the packaging on pharmaceuticals, to prevent counterfeiting.
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Report: Trion World, Backed By Rustic Canyon, Planning IPOOne of the portfolio firms of Los Angeles-based venture capital firm Rustic Canyon, Trion World Network, is reportedly prepping for an IPO, according to reports over the weekend. According to an interview with CEO Lars Butler, the online game maker is planning an IPO, although no timeframes were given. Rustic Canyon's investment in Trion World Network is managed by Nate Redmond; the firm also has part of its game studio in San Diego. Trion is venture backed by Act II Capital, Time Warner, Peacoc (More info...)
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BYD Opens HQ In Los AngelesChinese electric vehicle manufacturer BYD said Monday that it has opened up its headquarters in Los Angeles, which will serve as its North American Headquarters. The firm, which is backed by Warren Buffett's Berkshire Hathaway, said that its new headquarters is located along the Figueroa Corridor in Los Angeles, and will bring up to 150 engineering and management jobs into the city. BYD had said it would be opening up a headquarters in LA back in April of 2010, after efforts by Los Angeles Mayor (More info...)
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Mefeedia Boasts A Billion PageviewsGlendale-based Mefeedia, the online video guide site headed by Frank Sinton, reported today that it has just hit a total of a billion pageviews on the firm's site. Mefeedia's site helps users find and rate videos and other information on the web. The firm's advisors include Eytan Elbaz, co-founder of Applied Semantics, and Bedi Singh, President of Finance and CFO at MGM. Mefeedia did not say how long it took for the firm to reach a billion pageviews.
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GumGum Adds $7MSanta Monica-based Gumgum, the celebrity image licensing and advertising firm led by Ophir Tanz, has finally disclosed its funding round. The firm has raised $7M in funding from New Enterprise Associates, GRP Partners, and First Round Capital. It's unclear if prior investor Crosscut Ventures participated in this funding. Gumgum has been hinting at the round at local conferences for the past months, but had been mum about details.
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Interview with Erik Rannala, MuckerLabOne of the biggest complaints you hear from both entrepreneurs and investors in Los Angeles, is the lack of a credible, visible startup accelerator in the Los Angeles area. Accelerator programs--like YCombinator in Silicon Valley, and TechStars in Colorado--have come to the forefront of the minds of entrepreneurs as a way to boost their ideas quickly into the market, find funding, and into existence. To that end, last week, Los Angeles-based MuckerLab (www.muckerlab.com) announced its plans--and (More info...)
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Fisker Gets Loan ScrutinyIrvine-based Fisker Automotive, the developer of electric vehicles, is getting some serious scrutiny over its acceptance of $529 million in U.S. loans, after the Washington Post ran an investigative story on the firm--comparing it to the ill fated efforts of solar power firm Solyndra. The Post's article says that Fisker is "two years late" in reaching the market, pointed at the firm's decision this week to delay until 2013 its production of a moderately priced family sedan, and pointed out issue (More info...)
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Quest Buys ChangeBASEAliso Viejo-based Quest Software, the developer of IT management software, reports today that it has acquired UK-based ChangeBASE, a developer of automated application analysis, remediation, and conversion software. Financial terms of the buy were not disclosed. Quest said the move expands its product portfolio. ChangeBase's software helps IT administrators convert and upgrade systems, such as upgrading from Windows XP to Windows 7.
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Awarepoint Expands With Four ExecsSan Diego-based Awarepoint, which develops systems for tracking equipment and patients in hospitals, reported today that it has hired four new executives onto its management team. The firm said it has named Merrie Wallace as Executive Vice President of Product Solutions, Chris Cosgrove as Senior Vice President of Sales, Eastern United States, Greg Arthur as Vice President of Client Management, and Carla Gallecos as vice President of National Accounts, Western United States. Wallace was most rece (More info...)
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SRS Labs Names CFOSanta Ana-based SRS Labs, the developer of surround sound and audio processing technology, announced this morning that it has named Walter J. McBride as the firm's new Chief Financial Officer. McBride joins the company from Synthetic Genomics Inc., where he also was CFO. McBride also has served at Capstone Turbine, First Consulting Group, Calcomp, and Emulex, among other companies.
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JustEnough Wins Customer In New ZealandNewport Beach-based JustEnough Software reports it has signed a new customer in New Zealand. According to the company, it has signed Icebreaker, a developer of outdoor merino wool apparel, as a customer of its sales and demand planning software. Financial impact of the win was not disclosed. JustEnough software is headed by Malcolm Buxton.
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