Chinese professional networking company Ushi is planning to raise $5 million in its next round, with a projected close by the end of June, Reuters reported. The company is the dominant professional-social networking site in China with more than 300,000 users. It hopes to have 10 million users within the next two years. Launched late last year, Ushi is backed by Milestone Capital, Richmond Management, Li & Fung private equity and Simon Murray & Co. The firm raised 10 million yuan ($1.54 million) in its initial round of fundraising.
2 min read · 31 May 2011
Hayward, Calif.-based Primus Power, a grid-scale energy storage company, has closed on $11 million from DBL Investors, I2BF Global Ventures, Chrysalix Energy Venture Capital and Kleiner Perkins Caufield & Byers. The infusion will be used for development and commercialization of Primus' distributed storage technology, the company said Tuesday. The company has also previously raised money in grants from the United States Department of Energy, the Advanced Research Projects Agency -- Energy, and the California Energy Commission.
5 min read · 31 May 2011
2 min read · 27 May 2011
Lightbank, the tech investment fund started by Groupon co-founders Eric Lefkofsky and Brad Keywell, has put an undisclosed amount into Benzinga. Benzinga is a financial media start-up that provides online streaming news, trading ideas, commentary and analyst ratings. The company will use the new money to add staff, and expand its technology. Benzinga has offices in Delaware, Michigan and Chicago.
3 min read · 27 May 2011
Venture capital firm Tiger Global Management has led a $16 million round for members-only Indian online retailer Exclusively.in, Reuters reported. Early investor Accel Partners India also participated in the Series B round. Exclusively.in will use the infusion for expansion, launching in Britain this week, and planning to launch in Canada, Singapore, South Africa and other countries.
2 min read · 27 May 2011
3 min read · 26 May 2011
3 min read · 26 May 2011
3 min read · 26 May 2011
Redwood City, Calif.-based Kabam, a publisher of massively multiplayer social games, has closed on a whopping $85 million in Series D financing. Google Ventures and Pinnacle Ventures co-led the round, which included participation from Performance Equity and SK telecom ventures, as well as previous financial investors Canaan Partners, Redpoint Ventures and Intel Capital. Google Ventures Partner Joe Kraus will join Kabam's board as a result of the round. This latest infusion brings the company's total funding to $125 million.
7 min read · 26 May 2011
ShopIgniter Inc., a Portland, Ore.-based provider of social e-commerce software, has closed on $8 million in Series B financing from new investor Trinity Ventures and existing investor Madrona Venture Group. The funding will be used to grow sales, marketing and product development. Madrona led the company’s $3 million Series A round in early 2010. With the latest infusion, the company said Larry Orr, general partner at Trinity, joins the ShopIgniter board.
3 min read · 25 May 2011
