Northrop Grumman has led a $15 million Series C round for Daylight Solutions, a developer of molecular detection and imaging systems. The money is aimed at expanding the company’s technology and manufacturing infrastructure for defense and commercial applications, the company said. Unnamed existing shareholders also participated in the latest round.
3 min read · 11 July 2011
DataSift, a company developing a real-time data platform and tools for third-party developers and corporations, has closed on $6 million in venture capital, GRP Partners’ Mark Suster wrote on his blog. GRP Partners co-led the investment with Roger Ehrenberg at IA Ventures, Suster wrote.
10 min read · 11 July 2011
SpringLeaf Therapeutics held a second closing of its Series B round, inking an additional $4 million from new investor Excel Venture Management. The total for the round now stands at $19 million. The company’s other investors include SR One, Flybridge Capital Partners, and North Bridge Venture Partners. SpringLeaf is based in Boston.
3 min read · 08 July 2011
Advantage Capital Partners and Ironwood Capital have backed New England Linen Supply Company to the tune of $7.1 million. The company is a supplier of uniforms, linen and textile products to institutional food service facilities and better restaurants. With the infusion of cash, it aims to support its current operations and explores growth opportunities in Connecticut. The investment was made through Advantage Capital Connecticut Partners I, a fund focused on Connecticut businesses.
3 min read · 08 July 2011
Waltham, Mass.-based Avedro Inc. has closed on $25 million Series C financing. SCP Vitalife led the round along with Aperture Venture Partners. Existing investors Prism VentureWorks, De Novo Ventures, Flagship Ventures, Borealis Ventures and Echelon Ventures also participated in the round. The company, a developer of systems and procedures for biomechanically strengthening and modifying the cornea, plans to use the funding to expand its commercial operation outside the U.S. As a result of the round, Jeff Dykan of SCP Vitalife will join the Avedro board. Eric Sillman of Aperture Venture Partners joins as an observer.
3 min read · 07 July 2011
Chicago-based Clean Urban Energy has closed on $7 million in Series A financing, co-led by Battery Ventures and Rho Ventures. The money will help Clean Urban Energy, a maker of energy storage and smart grid performance optimization technology, to expand within the U.S.
4 min read · 07 July 2011
Virtustream Inc., a provider of a cloud services and infrastructure technology products, has raised $10 million in Series B financing from existing investors Intel Capital, Columbia Capital, Noro-Moseley Partners, and TDFunds. The company previously raised about $49 million in an extended Series A round, including past commitments from Blue Lagoon Capital. Virtustream launched in January of 2009, and has offices in the UK and Bethesda, Maryland.
3 min read · 07 July 2011
Allegro Diagnostics, a Maynard, Mass.-based developer of molecular testing platforms, has raised $5.4 million in Series A extension financing. Existing shareholders Kodiak Venture Partners and Catalyst Health Ventures participated in the round. The round will help the company support the commercialization of its lead genomic test, designed to detect early signs of lung cancer.
2 min read · 07 July 2011
OPX Biotechnologies Inc. has closed on $36.5 million in a first close of its Series C round, the company said Thursday. US Renewables Group led the round, which included investment from new investor DBL Investors and from existing investors Mohr Davidow Ventures, Braemar Energy Ventures, Altira Group and X/Seed Capital. Pacific Crest Securities provided financial advice to OPXBIO. As a result of the round, US Renewables Group managing director Jonathan Koch has joined the OPXBIO board. The company will use the money for development and commercialization of an industrial-scale process for producing its first renewable chemical, BioAcrylic.
3 min read · 07 July 2011
Cambridge, Mass.-based pharmaceutical company Zafgen Inc., which is developing novel obesity therapeutics, has closed on $33 million in Series C financing. Existing shareholders are leading the round, including Atlas Venture and Third Rock Ventures. The money will help support development of Zafgen’s pipeline and to advance its lead treatment for severe obesity into Phase 2 clinical studies.
5 min read · 07 July 2011
