At its “Minds and Machines” conference in San Francisco, GE announced today its “Industrial Internet Quests” challenge to developers and data scientists to create new algorithms and design applications to reduce air travel delays and improve the patient experience. Winners of the challenge will receive a $600,000 stake for mining data and developing solutions for productivity.
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NanoString Technologies, a provider of life science tools and developer of molecular diagnostics, has appointed James A. Johnson as the company’s new chief financial officer. Johnson assumes this role from Wayne Burns who will remain with the company in his new position as senior vice president, operations and administration. NanoString Technologies is backed by GE, BioMed Ventures, Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners.
Lately, there’s been a whole lot of bemoaning of this and that to explain why VCs are abandoning the biotech and device space and why strategics are slowing early-stage funding. Lawmakers and regulators have made it too tough to IPO. Lawmakers and regulators have made it too tough to get anything approved at the FDA. [...]
Better Place has raised $200 million through a Series C equity financing from a consortium of investors and partners. Since its founding in 2007, Better Place has raised more than $750 million of equity financing. New investors include GE and UBS AG, among others. Existing shareholders, including Israel Corp, HSBC Group, Morgan Stanley Investment Management, [...]
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GE and its venture partners are funding 10 home energy start-ups to the tune of $63 million, as part of its $200 million “GE ecomagination Challenge,” the company announced Thursday. The latest round of investments and commercial partnerships are aimed at household energy efficiency. The newly backed companies include Boston-based Ember; Waltham, Mass.-based GMZ Energy; San Mateo, Calif.-based Hara; Austin-based Nuventix; San Francisco-based Project Frog; and San Francisco-based SunRun. GE is co-investing on several companies with venture investors including Kleiner Perkins Caufield & Byers, RockPort Capital and Foundation Capital.
Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the blog posts written by our staff this week that garnered the most pageviews by our regular readers from March 28 to April 1. (Note: Instead of tracking total pageviews, this list now tracks pageviews by return readers to make it more relevant to our core audience. –Ed.)
Post No. 1: Slideshow: Top Performing VC-backed Chinese IPOs – by Lawrence Aragon
Post No. 2: Who Are The Most Influential VCs and Angels? Check Out This List – by Mark Boslet
Post No. 3: Harris Williams, Known for Keeping its Senior Bankers, Sees 7 MDs Leave Since 2009 – by Luisa Beltran
Post No. 4: Best and Worst of Venture – by Joanna Glasner
Post No. 5: SecondMarket Looking Into Cutting Out the Middleman (VC Firms) – by Jonathan Marino
Post No. 6: A Case Study In What Not to Do: America’s Biggest Company Goes Down in Flames on Twitter – by Connie Loizos
Post No. 7: One Institutional LP on VCs Buying Up Secondary Shares – by Connie Loizos
Post No 8: After Blippy, Pud Contemplates His Next Move – by Connie Loizos
Post No. 9: NY Shop To Close Fund V At Hard Cap – by Bernard Vaughan
Post No. 10: Apollo Shareholder Puzzle: Where Do You Fit In? – by Gregory Roth
GE has completed its acquisition of Lineage Power Holdings from Los Angeles-based private equity firm The Gores Group. Lineage Power is a provider of high-efficiency power conversion infrastructure technology and services for the telecommunications and data center industries. GE agreed in January to buy Plano, Texas-based Lineage for $520 million.
Massachusetts-based 1366 Technologies, a developer of photovoltaic solar panel technology, has raised $8.4 million in an extension of its most recent, $20 million round which closed in October 2010. GE and VantagePoint Venture Partners provided the latest round, along with return investors Ventizz Capital, North Bridge Venture Partners, and Hanwha Chemical.
GE has struck a deal with The Gores Group to acquire the private equity firm’s Lineage Power Holdings Inc. Deutsche Bank is financial advisor to GE on the transaction. Morgan Stanley was financial advisor to Lineage Power and the Gores Group.