Friday, December 2, 2011Aptera Shuts DownCarlsbad-based Aptera, the developer of a three wheeled, electric vehicle, has shut down. According to multiple sources, the firm is dissolving the company, after failing to find federal matching funds for its efforts. Aptera had been attempting to gain funding from the Department of Energy's Advanced Technology Vehicle Manufacturing (ATVM) loan program, after initially failing to be qualify in 2008 for the program due to having three, not four wheels. Aptera had been backed by Esenjay Investme (More info...)
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TrueCar Backs Women Auto RacersSanta Monica-based TrueCar, which provides automotive pricing information and powers automotive buying programs with its software and systems, said Friday that it is in an extensive, multi-year commitment to support female race car drivers. The firm said it is launching a "Women Empowered" initiative to back five female auto racing drivers, including Shea Holbrook (Pirelli World Challenge), Ashley Freiberg (Star Mazda Series), Shannon McIntosh (USF2000), Verena Mei (Rally America), and Emilee To (More info...)
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Tech Coast Angels Invests In Teenage Design CommunityThe Tech Coast Angels, the largest organized angel investment group in Southern California, has made an investment in Define My Style, an online community focused on teenagers, to the tune of $140,000. Other investors in the $600,000 seed stage funding round were CincyTech and Queen City Angels, according to Define My Style. The investment is probably one of the farthest flung for the Tech Coast Angels, geographically. Define My Style is based in Cincinnati, Ohio. CincyTech's portion of the fund (More info...)
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WD: Flooding To Cost $225M to $274M In QuarterIrvine-based Western Digital, the maker of computer hard disk drives, gave an update on its operations late Thursday evening, saying that flooding in Thailand will cost the firm between $225M and $275M in the December quarter. WD said those costs are exclusive of any insurance recovery. WD has been severely impacted by the flooding in Thailand, some of the worst in history. WD said it now expects revenues of at least $1.8 billion in the quarter. WD also said that it has re-strated production in (More info...)
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Jacobs Engineering Acquires IT Services FirmPasadena-based Jacobs Engineering Group said this morning that it has acquired an Australian information technology services firm, Unique World. Unique World is based in Sydney, Australia. Financial terms of the buy were not announced. Jacobs said the buy expands its capabilities in Australia to include IT services.
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SteelHouse Raises $6.3M In Series BLos Angeles-based StellHouse, a developer of e-commerce software, said this morning that it has raised $6.3M in a Series B funding round. The round came from Greycroft Partners, Rincon Venture Partners, Lighthouse Venture Group, Baroda Ventures, and angel investor Ron Conway. SteelHouse had raised the initial part of the Series B in September.
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