VCJ Staff

VC-Backed Aspen Medtech Shuts Down

Sadra Medical Raises $30 Million

Sadra Medical, a Campbell, Calif.-based developer of therapies to treat aortic valve disease, has raised $30 million in Series C funding. Accuitive Medical Ventures led the round, and was joined by return backers Boston Scientific, Finistere, Firstmark Capital, Oakwood, ONSET Ventures, and SV Life Sciences.

H20 Prize Aims To Cultivate Water Startups

LOS ANGELES (Reuters) - Tamin Pechet is a young venture capitalist who wants to invest in water start-ups, but has found a dearth of opportunities even as the world searches for solutions to widespread water scarcity. So to lead entrepreneurs to water, Pechet co-founded the not-for-profit Imagine H2O (www.imagineh2o.org/) and launched a prize competition this week aimed at sparking innovation and new business for the water market. Water is a $500 billion business worldwide, but draws a mere 0.5 percent of venture capital, or about six or seven investments a year. "I think there is a pervasive lack of awareness, not only of water problems, but of water opportunities," said the 30-year-old Pechet, a principal at Catamount Ventures in San Francisco who previously worked at Goldman Sachs investing in private energy companies.

I Love Rewards Raises C$6.9 Million

I Love Rewards, a Toronto-based provider of employee reward, sales incentive and service award programs, has raised C$6.9 million in Series B funding. GrandBanks Capital led the round, and was joined by JLA Ventures and Laurence Capital. Ryan Moore of GrandBanks will join the company's board of directors.

Novartis Backs Tokai Pharma

DocuSign Raising Fourth Round

SupplyFrame Raising Third Round

Enphase Energy Raises $22 Million

Enphase Energy Inc., a Paetaluma, Calif.-based developer of micro-inverter systems for the solar industry, has raised $22.57 million in new VC funding, according to a regulatory filing. No investor info was disclosed, but the company's website identifies three investors: Appplied Ventures, Rockport Capital Partners and Third Point Management. www.enphaseenergy.com

Kalido Keeps Raising

Kalido Inc., a Burlington, Mass.-based provider of data warehousing and management software, has secured $3.08 million of a $5.15 million venture round, according to a regulatory filing. It had previously raised over $40 million through four rounds, from firms like Atlas Venture, Balderton Capital and Matrix Partners. www.kalido.com

TRA Raises $13.5 Million

TRA, developer of a household-level research system to report ROI accountability for advertising spend, has raised $13.5 million in Series B funding. Arbitron Inc. led the round, and was joined by return backers Kodiak Venture Partners and WPP.