VCJ Staff

Virtual Incision Raises $2 Million Series A Financing

Lincoln, Nebraska-based Virtual Incision has raised $2 million in venture capital financing led PrairieGold Venture Partners and Bluestem Capital. Formed by two University of Nebraska professors, Virtual Inciscion develops robotic surgical devices for use in laparoscopic surgery. The company will use the first round of financing to develop prototypes of its technology. PrarieGold Venture Partners and Bluestem Capital are based in Sioux Falls, S.D.

Venture-backed Solace Systems Adds Growth Equity

Solace Systems, an Ottawa-based maker of middleware appliances, has raised an undisclosed amount of growth capital from Canadian investment firm Tandem Expansion. Solace has raised previously financing from investors including Genuity Capital Partners and Teachers' Private Capital.

Gene Security Network Inks $12 Million Series C

Gene Security Network, which develops technology for genetic testing, has raised $12 million in a Series C financing round led by Menlo Park, Calif.-based Sequoia Capital. Oakland, Calif.-based Claremont Creek Ventures; San Francisco-based Founders Fund; and Menlo Park, Calif.-based Lightspeed Venture Partners also participated in the round. Gene Security currently focuses its technology on the genetic testing of DNA during in vitro fertilization. The Redwood City, Calif.-based company will use the new financing to help expand into other areas, including prenatal diagnostics.

iPad Publisher Callaway Adds $6M, Inks Martha Stewart Deal

Callaway Digital Arts, which publishes interactive applications for the iPad, iPhone and iPod, has raised $6 million in venture funding, and sealed a deal to create a series of applications for Martha Stewart. Silicon Valley venture firm Kleiner Perkins Caufield & Byers led the round through its Apple-focused iFund. Sherpalo Ventures founder Ram Shriram and Zynga CEO Mark Pincus also participated in the Series A round.

Infinity Group Adds $18 Million For Harbin No. 1 Tools

Tel Aviv-based Infinity Group led an $18 million investment in China’s Harbin No. 1 Tools Manufacturing Company. Harbin is based in China’s Heilongjiang Province, and develops complex cutting tools. The new round of financing is designed to bolster the company’s technology. Infinity Group has more than $700 million under management.

Cisco Leads Series C Round for RingCentral

San Mateo, Calif.-based RingCentral has raised an undisclosed amount of Series C financing led by Cisco. RingCentral develops a platform for cloud computing-based phone systems, and is also backed Menlo Park, Calif.-based Sequoia Capital, Menlo Park, Calif.-based Khosla Ventures and Palo Alto, Calif.-based DAG Ventures .

Vindicia Adds $20 Million in Series E Funding

Belmont, Calif.-based Vindicia has raised $20 million in venture capital financing. New investor FTV Capital led the Series E round, which included participation from existing investors Bertelsmann Digital Media Investments, DCM and Onset Ventures. Vindicia, which develops on-demand billing technology, has raised a total of more than $41 million. As a result of the latest funding, FTV Capital Partner Eric Byunn joins Vindicia’s board. FTV Capital has offices in San Francisco and New York.

Cleantech Investments Down in Third Quarter

Venture capital investments in U.S.-based cleantech companies fell during the third quarter of 2010. A total of $575.6 million was invested across 53 financing rounds, representing a 55% decrease in capital compared with the third quarter of 2009, according to an Ernst & Young report.

Vascular Pathways Adds $14 Million in VC

Medical device maker Vascular Pathways has raised $14 million in Series B venture capital. Stamford, Conn.-based CHL Medical Partners led the round, which included funding from Ascension Health Ventures, Boston-based MVM Life Science Partners and New York City-based Arcus Ventures. Vascular Pathways is based in Los Altos, Calif., and will use the financing to commercialize its intravenous catheter technology.

Acquia Raises $8.5 Million Series C

Boston-based Acquia raised $8.5 million in a third round of funding from existing investors North Bridge Venture Partners and Sigma Partners. Acquia will use the money for continued development of its software and services for the open source publishing platform Drupal. The company has raised at least $15 million across two previous funding rounds. North Bridge Ventures has offices in Boston and San Mateo, Calif. Sigma has offices in Boston and in Silicon Valley.