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Online Music Video Game Developer Conduit Labs, based in Cambridge MA, raises $3 Million in equity funding October 30, 2009

Posted by HubTechInsider in Gaming, Venture Capital, Video Gaming Video Games.
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Conduit Labs, the Cambridge, MA-based maker of music-driven online games such as Loudcrowd, has collected $3 million in new equity financing, SEC Regulatory documents filed September 15 reveal. Conduit founder and CEO Nabeel Hyatt has publicly stated to a leading technology publication, Mass high Tech, that the funding came from Charles River Ventures of Waltham, MA, and Prism VentureWorks of Westwood, MA; Prism VentureWiorks also provided Conduit’s $5.5 million Series A round concluded in August 2007.

Wilbraham MA based FloDesign Wind Turbines prototypes are 3 times more efficient than 3 bladed windmills October 30, 2009

Posted by HubTechInsider in green technology, renewable energy, Uncategorized, Venture Capital.
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Using design features borrowed from jet engine design, Wilbraham, MA -based FloDesign Wind Turbine has produced prototypes capable of producing electricity three times more efficiently than conventional, three-bladed wind mill designs.

In FloDesign’s prototype, two concentric hoops channel air into patterns that create spinning vortexes – like minature tornadoes – as the exiting air passes the turbine blades, dramatically boosting air flow.

Wilbraham, MA's Flodesign Wind Turbines

Wilbraham, MA's Flodesign Wind Turbines



Unlike conventional windwills, FloDesign’s model can be transported on one truck, compared with three trucks for conventional wind mills. The new design can produce electricity at lower wind speeds and in the midst of more volatile wind gusts, making it a shoo-in for spots – like beaches and cities – that have until now been inhospitable for wind power generation.

Silicon Valley Venture Capital firm Kleiner, Perkins, Caulfield and Byers committed $6 million to the company in 2008. The company also has raised funds from the U.S. Department of energy and hopes to raise an additional $25 million later this year.

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Waltham MA based Inverness Medical Innovation Systems acquires Seattle based Free & Clear for around $130 Million October 29, 2009

Posted by HubTechInsider in Health Care IT, Uncategorized, Venture Capital.
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Waltham, MA-based Inverness Medical Innovations (NYSE: IMA) has acquired Seattle-based Free & Clear for $100 million in cash, plus up to $30 million in potential follow-on payments based on Free & Clear’s 2010 revenues. Inverness Medical Innovations manufactures consumer diagnostic tests such as pregnancy tests, and also provides wellness and disease management (DM) services through its Alere subsidiary. Free & Clear, which was backed by Waltham, MA -based Polaris Venture Partners, Three Arch Partners, and Kaiser Permanente Ventures, offers telephone-based coaching for company employees battling tobacco addiction, obesity, and stress.

Mzinga of Burlington MA raises $10 Million in new venture funding and consolidates its product portfolio October 29, 2009

Posted by HubTechInsider in Software, Venture Capital.
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Mzinga of Burlington, MA, has raised $10 million in new capital this month, including a previously disclosed $6.1 million financing. New investors Acadia Woods Partners and BlueCrest Venture Finance Master Fund joined existing investors W Capital Partners and Shared Capital Partners in the subsequent rounds. Mzinga also has consolidated its human resources, social media marketing, and customer support platforms into a single product, called OmniSocial.

Watertown, MA based Harvard University spinoff Tetraphase Pharmaceuticals raises $10 million out of a planned 29.6 million equity financing round October 28, 2009

Posted by HubTechInsider in Pharmaceuticals, Venture Capital.
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Watertown, MA-based Tetraphase Pharmaceuticals has raised $10 million out of a planned $29.6 million equity financing round, according to regulatory documents filed Wednesday. The Harvard spinoff, which is using synthetic chemistry to develop new antibiotics for drug-resistant infections, previously raised $25 million in two tranches that closed in August 2008.

Marlborough, MA based server software company Egenera closes $3 million equity financing round October 28, 2009

Posted by HubTechInsider in Software, Venture Capital.
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Marlborough, MA-based Egenera has raised $3 million in new equity financing, according to regulatory forms filed today. An executive for the company, which makes software for managing physical and virtual servers in corporate data centers, told Mass High Tech the funds came from existing investors, a group that includes Austin Ventures, Crosslink Capital, Kodiak Venture Partners, Pharos Capital Group, and Technology Crossover Ventures. Egenera raised $26 million in December 2007 and laid off 87 employees in November 2008.

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