Week in deals, Oct. 8, 2007


Ceres Inc.

Thousand Oaks, Calif.


Amount/Round: $75M/F

Investors: Warburg Pincus.

Details: Develops plant-based products as feedstocks for cellulosic ethanol production. The company previously raised more than $77M in VC funding from Artal Luxembourg, Oxford Bioscience Partners, GIMV, H&Q, KBC, Monsanto Co., Oppenheimer Funds, QuestMark Partners and Towerbrook Capital Partners. A 2001 infusion of more than $23M came with a PMV of nearly $200M.

ZeroPoint Clean Tech Inc.

Potsdam, N.Y.


Amount/Round: $3.1M/B

Investors: NA

Details: Develops biomass gasification and processing technologies. The company’s website identifies Golden Technology Management as a seed backer back in 2005. GS AgriFuels Corp. acquired about 10% of the company in 2006 for $2.5M.


Diffusion Pharmaceuticals

Charlottesville, Va.


Amount/Round: $4.5M/A

Investors: Undisclosed individual investors.

Details: Develops a drug to enhance oxygen diffusion.

GlobeImmune Inc.

Louisville, Colo.


Amount/Round: $41M/C

Investors: Wexford Capital (led), Celgene Inc., Mellon Family Investment Co., Richard King Mellon Foundation, Eminent Venture Capital, Boston Life Science Venture and WRF Capital. Return backers included HealthCare Ventures, Morgenthaler Ventures, Sequel Venture Partners, Lilly Ventures, Medica Venture Partners, Adams Street Partners, Biogen Idec, Inc., Pac-Link Bioventures, China Investment and Development (CIDC), Yasuda Enterprise Development, Partners Healthcare, GC&H Investments.

Details: Develops drugs to treat cancer and chronic infectious diseases. The company has now raised $88M in total VC funding.

Sagent Pharmaceuticals Inc.

Schaumberg, Ill.


Amount/Round: $53M/A

Investors: Vivo Ventures.

Details: Develops injectable drugs. The company was founded in 2006 and says that it has more than 200 products in development.

Sequel Pharmaceuticals

San Diego


Amount/Round: $20M/A

Investors: Domain Associates, Forward Ventures, InterWest Partners, Montreux Equity Partners, Skyline Venture.

Details: Develops a drug candidate for the treatment of atrial fibrillation. The company was spun out of NovaCardia, following that company’s acquisition by Merck & Co. The Series A funding came from past NovaCardia backers.

Vital Therapies Inc.

San Diego


Amount/Round: $28M/C

Investors: Versant Ventures (led), Delphi Ventures, HBM BioMed China, DFJ DragonFund China, MedVenture Associates, Valley Ventures, Toucan Capital, Heights Capital.

Details: Develops a treatment for liver disease. The company has raised about $40M in total VC funding.


Quellan Inc.

Santa Clara, Calif.


Amount/Round: $20M/C

Investors: W.L. Gore & Associates, Jafco, Menlo Ventures, Yamacraw Capital Seed Fund, Cordova Ventures, Samsung Ventures America, VentureTech Alliance.

Details: Develops integrated circuits for signal processing and RF noise cancellation. Analog semiconductor industry veteran Robert Dobkin, an investor in the company, has joined the board. The company has raised about $42M in VC funding since 2001.

Zilker Labs Inc.

Austin, Texas


Amount/Round: $10M/D

Investors: Sevin Rosen Funds, North Bridge Venture Partners, H.I.G. Ventures.

Details: Makes power conversion integrated circuits. The company has now raised about $33M in total VC funding since 2003.


Konarka Technologies Inc.

Lowell, Mass.


Amount/Round: $45M/F

Investors: Mackenzie Financial Corp. (co-led), Good Energies (co-led), Pegasus Capital, Draper Fisher Jurvetson, Asenqua Ventures, New Enterprise Associates, 3i Group, Vanguard Ventures, Chevron, Massachusetts Green Energy Fund, NGEN Partners, Angeleno Group.

Details: Develops plastic photovoltaic products. Lehman Brothers served as placement agent for the deal, which brings Konarka’s total venture capitalization to about $100M.

LedEngin Inc.

Santa Clara, Calif.


Amount/Round: $11M/C

Investors: Partech International (led), WK Technology Fund and Dr. Keh-Shu Lew, president and CEO of Diodes Inc.

Details: Develops components and light source modules for high power light emitting diodes.


Overture Networks Inc.

Morrisville, N.C.


Amount/Round: $12.3M/C

Investors: Lehman Brothers Venture Partners (led), Intersouth Partners.

Details: Makes high-speed networking equipment. The company has raised about $45M since 2000.



San Luis Obispo, Calif.


Amount/Round: $6M/B

Investors: Kern Whelan Capital (led), Rivenrock Capital.

Details: Provides ecommerce solutions for brand-name manufacturers.


ConsumerPowerline Inc.

New York


Amount/Round: $17M/A

Investors: Expansion Capital Partners (led), Bessemer Venture Partners, Schneider Electric Ventures, New York City Investment Fund, Vantania Holdings.

Details: Provides energy demand management solutions. The company was advised on the deal by Consensus Business Group.


Xoom Corp.

San Francisco


Amount/Round: $20M/E

Investors: DAG Ventures (led), Fidelity Ventures, New Enterprise Associates, Sequoia Capital.

Details: Provides online-to-offline international money transfer services. The company had raised a $15M Series D round in mid-2006, and has now raised more than $50M in total funding.



Santa Monica, Calif.


Amount/Round: $5M/A

Investors: Mayfield Fund (led), General Catalyst Partners, Atomico Investments.

Details: Provides online video content to consumers, marketers, distributors and creative talent.


Herndon, Va.


Amount/Round: $5M/B

Investors: Softbank Capital, Greycroft Partners, Bob Pittman’s Pilot Group and company CEO and co-founder Kene Lerer.

Details: Operates an online news site and political blog.

LeisureLink Inc.

Pasadena, Calif.


Amount/Round: $8M/B

Investors: Group RCI, Clearstone Venture Partners, Mission Ventures.

Details: Operates a website that connects travelers with vacation rental suppliers worldwide.


San Francisco


Amount/Round: NA/B

Investors: Formative Ventures (led), The Accelerator Group, First Round Capital.

Details: Provides tools and services to make Web applications easier to develop and distribute. Clint Chao, co-founder and general partner of Formative, has joined the board. Josh Kopelman, managing partner of First Round, serves as the company chairman.

OpTrip Inc.

Sunnyvale, Calif.


Amount/Round: $500K/A

Investors: Amidzad Partners and individual investor Peter Thiel.

Details: Develops an automated online travel website. The company was founded by Stanford University computer science graduate Calvin Yang.

Punchbowl Software Inc.

Natick, Mass.


Amount/Round: NA/seed

Investors: Intel Capital (led), eCoast Angels and other individual investors.

Details: Operates an event-planning website. The company recently launched an application called Party Animal, written for the Facebook platform.


Ramon, Calif.


Amount/Round: $4.5M/debt

Investors: ATEL Ventures.

Details: Provides online consumer services in the automotive and real estate sectors. The company previously raised about $23M in VC funding from Scale Venture Partners, Outlook Ventures and CS Capital Partners.

Waterfront Media

Brooklyn, N.Y.


Amount/Round: $25M/D

Investors: Scale Venture Partners (led), Foundation Capital and return backers Rho Ventures, Time Warner Ventures, BEV Capital, Neocarta Ventures.

Details: Operates as online health media company. The company previously raised $10M in VC funding, plus $8M in venture debt from Hercules Technology Growth Capital.

Wikinvest Inc.

San Francisco


Amount/Round: $2.5M/A

Investors: DCM

Details: Develops a wiki-style website for the investment community.


Santa Monica, Calif.


Amount/Round: $13.5M/NA

Investors: Capricorn Investment Group.

Details: Provides an online auto marketplace, The company has raised $46M in equity funding and another $21M in debt since its April 2005 launch. Existing shareholders include Global Research Partners and Anthem Ventures.


Aviir Inc.

Menlo Park, Calif.


Amount/Round: $11M/B

Investors: Bay City Capital, Aberdare Ventures, New Leaf Ventures.

Details: Develops diagnostic tools to treat cardiovascular disease. The funding is the first call down of a $25M Series B round.

Cardiosolutions Inc.

Stoughton, Mass.


Amount/Round: $7M/A

Investors: BioVentures Investors.

Details: Develops a minimally invasive system for repair of a mitral valve.

Corium International Inc.

Menlo Park, Calif.


Amount/Round: $25M/C

Investors: Essex Woodlands Health Ventures (led), Quantum Technology Partners, Aphelion Capital and an undisclosed strategic investor.

Details: Makes drug delivery products and other medical equipment. In other news, the company has agreed to merge with StrataGent Life Sciences Inc., an existing portfolio company of Essex Woodlands, Quantum Technology and Aphelion Capital.

Imalux Corp.



Amount/Round: $5.1M/C

Investors: Early Stage Partners, ElectroSonics Medical, Reservoir Venture Partners, Symark.

Details: Develops medical imaging equipment technology for the visualization of tissue microstructure. The company has raised about $16M since January 2001, including a $1.9M infusion in late 2003 at a PMV of about $7M.

Sinexus Inc.

Palo Alto, Calif.


Amount/Round: $3.5M/A

Investors: Kleiner Perkins Caufield & Buyers, U.S. Venture Partners.

Details: A startup medical device company focused on the treatment of chronic sinusitis.

WMR Biomedical Inc.

Cambridge, Mass.


Amount/Round: $13.1M/B

Investors: Intersouth Partners, North Bridge Venture Partners, Polaris Venture Partners.

Details: Develops medical devices for the cardiology and ophthalmology markets.


Agent Video Intelligence Inc.

New York


Amount/Round: $3M/B

Investors: 21 Ventures.

Details: Develops video security systems and analysis technology. The company has now raised about $13M from 21 Ventures.

Guardian Analytics Inc.

Los Altos, Calif.


Amount/Round: $4.5M/B

Investors: Foundation Capital

Details: Provides fraud prevention solutions for websites.

Sipera Systems Inc.

Richardson, Texas


Amount/Round: $10M/C

Investors: Duchossois Technology Partners (led), Sequoia Capital, Austin Ventures, Star Ventures.

Details: Provides security for VoIP, mobile and multimedia communications. The company has now raised nearly $30M in total VC funding since 2005.


Accelovation Inc.

Mountain View, Calif.


Amount/Round: $3M/B

Investors: Altos Venture Partners, Thomvest.

Details: Provides market search software.


Doylestown, Penn.


Amount/Round: $3M/A

Investors: SIG Strategic Investments.

Details: Provides project portfolio management software.

Mantara Inc.

Jersey City, N.J.


Amount/Round: $7M/B

Investors: Mohr Davidow Ventures and Australian firms CM Capital and Southern Cross Venture Partners.

Details: Develops messaging software. The funding is the first close of an expected $12.5M Series B round, according to a regulatory filing.


GalleryPlayer Inc.



Amount/Round: $2.5M/C

Investors: Menlo Ventures.

Details: Provides high-res image content for high-definition TVs and PCs. The funding is the first close of an expected $7.8M Series C round, according to a regulatory filing.



Deerfield Beach, Fla.


Amount/Round: $6.5M/B

Investors: Harris Preston & Partners (led), Morgenthau Venture Partners, New World Angels.

Details: Provides mobile content delivery solutions. The company raised a $2.7M Series A round last year.