SustainX, which is developing technology for energy storage using compressed air, has closed on $14.4 million in financing. GE Energy Financial Services, a unit of GE, contributed to the round, as did Cadent Energy Partners and existing shareholders Polaris Ventures and Rockport Capital. New Hampshire-based SustainX previously raised $5.4 million from investors including the Small Business Innovation Research program of the National Science Foundation and the Energy Storage Program of the US Department of Energy.
4 min read · 16 March 2011
Harvest Power, a company developing renewable energy and fertilizer products from organic waste, has closed on a whopping $51.7 million in Series B financing. London-based Generation Investment Management led the round. Other investors included DAG Ventures, Keating Capital, Kleiner Perkins Caufield & Byers, publicly traded Waste Management, Munich Venture Partners and TriplePoint Capital. The company’s technology is designed to process various kinds of organic waste, including food scraps, yard trimmings, scrap wood and other organics. Harvest Power, which says it is profitable, recently broke ground on its first commercial-scale facility in North America. The new money will help Harvest expand its facilities and technologies.
3 min read · 16 March 2011
Celergo, a provider of payroll services, has raised $15 million from growth equity firm Frontier Capital. The financing will help Celergo expand its sales, marketing and service delivery resources, the company said in a statement. Celergo is based in Deerfield, Illinois, and has offices in London and Singapore. Frontier Capital is based in Charlotte, N.C.
2 min read · 16 March 2011
China-focused private equity firm Origo Partners will invest up to $15 million in Unipower Battery Ltd. as part of a $22 million convertible note offering by the company. One-year-old Unipower Battery is based in China and focused on large polymer batteries for electric vehicles and high-capacity storage. Origo initially put $4.3 million into the start-up during a 2010 round.
3 min read · 16 March 2011
Advanced Animal Diagnostics, a developer of technologies to diagnose farm animal diseases, has closed on $11 million in Series B financing. Intersouth Partners led the round, which included participation from Novartis Venture Funds and other, unnamed investors. The company will use the financing to continue development of its diagnostic tests. Advanced Animal’s first on-farm product will focus on improving milk production and quality by controlling mastitis, an infection of the milk-producing gland of cows.
4 min read · 16 March 2011
Just-Eat, a London-based website for ordering delivery and takeout meals, has closed on $48 million in new financing. Greylock Partners and Redpoint Ventures co-led the round, which included financing from existing shareholder Index Ventures. The company – which closed on a 10.5 million pound round in 2009 – will use the money to expand its service and continue to develop range of services provided to partner restaurants.
4 min read · 16 March 2011
Pricelock, which provides online fuel hedging and price protection services for businesses that rely on fuel, has raised $12 million in Series B financing. The company is backed by investors including Goldman Sachs, Artiman Ventures, Barclays, and RenaissanceRe Ventures Ltd. Pricelock is based in Redwood City, Calif.
3 min read · 15 March 2011
Sponto, maker of a mobile app designed to help college students find parties, has raised $200,000 in seed financing from McLean, Va.-based Amplifier Ventures. The money will help Sponto to expand its software development and expand the reach of its event-sharing application. The Washington D.C.-based company launched the first version of its technology in late 2010 at the University of Maryland.
3 min read · 15 March 2011
Intel Capital and International Finance Corp. are investing $12 million into Irish firm Altobridge, a provider of telecom network equipment for remote areas of emerging countries, Reuters reported. The Series C round will allow Altobridge to commercialize its technology, designed to allow operators to get more out of congested networks, Reuters wrote.
1 min read · 14 March 2011
Pittsburgh-based event ticketing company ShowClix has raised $1.65 million in Series B financing. Pittsburgh-based growth capital firm Swallow Point Ventures led the round. Pittsburgh Equity Partners, Woodland Partners, Innovation Works, and Smithfield Trust also contributed. ShowClix will use the new cash to help expand its sales, marketing and development.
3 min read · 14 March 2011
