Deal round-up 03/05

Palomon, 3i, Alliance, Interregnum and OM spend it wisely.

Palamon invests in Zensys

Palamon Capital Partners has invested $19.1m in a first-round of funding for Zensys.

The Copenhagen-based company said the financing would be used for technology and research development, and for partnerships with home automation corporations.

Zensys, which makes home automation products, previously raised $3m from individuals.

Palamon took three board seats on the seven-member board of directors at Zensys, which expects to be profitable in the second quarter of next year.

3i, Peppermint and IBB form Scienion

3i Group, Peppermint Financial Partners and the IBB Beteiligungsgesellschaft have put up $5.5m to form Scienion, a biotech startup.

Technologies-Beteiligungs-Gesellschaft/Deustche Ausgleichsbank also provided funds.

Scienion will develop biochips to analyze the causes of disease.

Scienon has been spun out of the Max Planck Institute for Molecular Genetics.

Alliance Fund invests in Epionet

Alliance Fund has led a $2.3m first round in Epionet, an e-business services provider.

Unnamed individual investors also contributed to the round.

Epionet, which is worth about $28m, will use the money to develop its B2B offering.

Interregnum leads round in Adaptive

Interregnum has led a £1.7m third round of equity funding for Adaptive.

Interregnum provided £800,000, 3i £500,000 and Abbey National £400,000.

Bournemouth-based Adaptive will use the capital to accelerate sales.

Adaptive was formed in 1996 and develops and markets software.

$2m for Twobyfour

OM has led a $2m round for Twobyfour Software, which develops business application management software.

HighBar Ventures and Sun Microsystem founders Andreas Bechtolsheim and Bill Joy also invested.

Stockholm-based Twobyfour said it would use the funds for marketing and product development.