Thursday, January 17, 2008

Transonic Combustion Gets New Funding From Khosla Ventures

Camarillo-based Transonic Combustion, a firm which is developing an advanced fuel injection system for automobiles, said Thursday that it has received an additional investment from Khosla Ventures. The firm said the third round of funding makes Khosla the largest shareholder in the firm. Vinod Khosla has joined the firm's board as part of the funding. Transonic Combustion did not disclose financial details of the funding, but said it received a "substantially higher" valuation than the firm's July 2007 second round. Transonic Combustion did not say if Rustic Canyon or Venrock, the firm's other venture backers, participated in this round. Transonic Combustion's technology is expected to increase fuel efficiency in automobiles, while also allowing for use of gasoline, diesel, and bio-renewable fuels. More information »