- Velocity Venture Capital, a Sacramento-area venture firm with $10mm under management, has made their largest ever investment in fuel cell developer Jadoo. The total amount of the round and any other funders weren't disclosed -- as far as Velocity's portion, they invest $100k to $1mm per company. Jadoo had previously raised an $11mm Series B in 2005, including investments by MDV, Venrock, and strategic investor Sinclair Broadcasting Group.
- Touting a newly-discovered ethanol-producing bug called the Q Microbe, SunEthanol has raised a Series A (VWire describes it as "under $5 million") from strategic investor VeraSun and financial investors Battery Ventures, Long River Ventures and AST Capital. The bug in question has the ability to both break down cellulose and produce ethanol, in one step. And, notably, it's the result of research carved out of the University of Massachusetts (UMass and Jattra Ventures also appear to have stakes in the company). Read more on cellulosic ethanol here.
- According to today's Venture Wire, Verdant Power is looking to raise a $20-30mm Series B round of financing. We mentioned them yesterday, when their challenges and progress were profiled in the NYT...
- According to PE Week Wire, Cambridge's Rive Technology has topped off their Series A with $3.15mm from Advanced Technology Ventures. The company had previously raised $5.22mm in the round back in June of last year, with financing from Charles River Ventures and seed funders. The company's advanced catalyst technology is used in petrochem refining.
- Congrats to Flagship Ventures' David Berry for being named Technology Review's Top Young Innovator for 2007!
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