Monday, May 6, 2013Panna Gets Funding From LA Investors For iPad Cooking MagazineA number of Los Angeles investors are behind a first round of funding today for Panna, a developer of a video cooking magazine for the iPad and iPhone. Panna, which is based in New York, said it raised $1.35M in funding from Anthem Ventures, Launchpad LA, Lerer Ventures, Crosslink Ventures, Maveron, Advancit Capital, RSL Venture Partners,David Tisch's BoxGroup, Rick J. Caruso, Ken Siskind, Jay Livingston, Dan Rose, Aaron Schiff and David Levy. Panna's app lets users cook alongside celebrity chef (More info...)
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Cheers Links With Facebook, Instagram PhotosCheers, the developer of a mobile app aimed at spreading gratitude and cheer to people--which is venture backed by $2.5M in venture funding--has just released a new version of its app, which lets users use Facebook and Instagram photos. The startup, which is headed by Farhad Mohit (Bizrate/Shopzilla) and backed by MindFund, Charles River Ventures, Trinity Ventures, Naval Ravikant, and others--has the tagline "celebrate life and happiness." Cheers is based in Los Angeles.
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Hulu Plus Hits Windows Phone 8Hulu the online television streaming site based in Los Angeles, has added support for Windows Phone 8, the company announced Monday. According to Hulu, its Hulu Plus for Windows Phone 8 is now available in the Windows Phone Store. The new app organizes videos by category, including TV, Movies, Latino, Trailers and Kids, and allows users to access any episode with a Hulu Plus subscription. Hulu Plus is Hulu's monthly, premium subscription service.
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Marlin Equity Completes Nokia Optical Networks BuyLos Angeles-based private equity firm Marlin Equity Partners said this morning that it has completed its acquisition of the Optical Networks business of Nokia Siemens Networks, and has renamed that business Coriant. Marlin said the new company will be headquartered in Munich, Germany. Marlin said the acquisition is its sixth, corporate divestiture acquisition since the beginning of 2012. Nokia's Optical Networks business developed optical transport hardware and software.
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InstaMed Gets More FundingNewport Beach- and Philadelphia-based InstaMed, which operates an online electronic payment clearinghouse for the healthcare industry, said today that it has raised an internal round of funding. Size of the round was not announced. The firm said the funding came from its existing investors, and will go towards growth of its customer base. InstaMed is headed by Bill Marvin; the firm has formerly announced such backers as Ashby Point Capital and
Osage Ventures, but it's unclear if those firms wer (More info...)
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IDrive: We're The Biggest Cloud Service In LA You've Never Heard OfLos Angeles-based IDrive has a bold claim: it's the biggest cloud service provider in Los Angeles. Why? The online cloud storage service provider says it now has 35 petabytes worth of user data stored on its service, an online backup and synchronization service aimed at the personal and small business market. IDrive--which is run by Pro Softnet--said that it has just passed 2 million, online user accounts, and has backed up around 400 million smartphone contact records for its customers. IDrive (More info...)
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Arrowhead Gets $36M In PIPEPublicly held biotherapeutics developer Arrowhead Research said this morning that it has raised $36M in a private offering. The Pasadena-based company said the new financing was led by RA Capital, and included new investors Camber Capital, Special Situations Fund, and Aquilo Capital. Existing investors Sabby Capital, Sphera Global Healthcare Fund, and Jim Mellon also participated in the offering. Arrowhead Research has a number of biotherapeutics candidates, aimed at such areas as cancer, obesit (More info...)
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Oracle Founder Larry Ellison's Latest Investment: Malibu Real EstateIn the latest Silicon-Valley-tech-mogul-buys-into-SoCal story, it looks like Oracle founder Larry Ellison has been making some big investments in Southern California--in the real estate area. The LA Times said this weekend that Ellison has spent an estimated $200M to $250M acquiring at least nine properties in Malibu. It's unclear what Ellison plans to do with property. Ellison is no stranger to property purchases: lsat summer, he acquired the entire Hawaiian island of Lanai. Many of the technol (More info...)
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Novatel Wireless Targets M2M Market With MiFiSan Diego-based Novatel Wireless, the developer of the popular MiFi mobile hotspot device, is targeting the M2M and fleet management market with its technology. According to Novatel, it is providing customization of the platform for the in-vehicle connected car market, commercial telematics and fleet management, and fixed telemetry. The firm said it is hoping to make it easier to connect such devices as video surveillance cameras, digital signage displays, point-of-sale systems to the Internet; (More info...)
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DTS Ships In New Toshiba NotebooksCalabasas-based audio enhancement and surround sound technology developer DTS said this morning that its technology is shipping in the new Toshiba Kirabook notebook computer. According to DTS, its DTS Studio Sound products are being used in the new product, for surround sound and other audio enhancement. Financial impact of the win was not announced.
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