ATLANTA — Air2Web, a principal wireless platform provider, closed a round of $20 million in Series C funding and expects to close an additional $5 million in the next few weeks.
Air2Web’s Mobile Internet Platform enables customers to extend enterprise applications to any digital wireless device including Short Message Service (SMS) and Web-enabled phones, personal digital devices (PDAs), and pagers.
To date, Air2Web has more than 65 production deployments with blue-chip customers providing wireless enabled financial applications, critical field force applications, customer relationship management, M-commerce and subscription-based content services. Customers include companies such as Delta Employees Credit Union, ABN AMRO, Digital Insight, Corillian, ADC Telecommunications, Lexmark International, Nortel, UPS, Holiday Inn, Intercontinental and Crowne Plaza hotels, the Weather Channel and CBS SportsLine. Air2Web also maintains extensive relationships with all major carriers and has partnerships with the country’s top systems integrators and key technology vendors to provide vertical industry expertise and ensure rapid wireless application delivery on a global basis.
BURLINGTON, MA — NTRU, providing the highest-performance security solutions for consumer devices and applications, announced today the company has raised $26.1 million in Series B financing. Investor AB, through its wholly owned subsidiary Investor Growth Capital, led the round, with participation from Texas Instruments, Sony, Macrovision, Lehman Brothers Venture Capital, Greylock, Granite Ventures and 3i. NTRU is well positioned for current and future growth as a result of a strong capital base. Total investment to date exceeds $38 million.
BOULDER, CO — Capping a third quarter of product
development and partnership successes, Anark Corp., developers of an
integrated media platform for digital media applications, today announced its
has raised $5.8 million in the first closing of a Series B equity financing.
Wolf Ventures and Murphree Venture Partners, both new Anark investors, led the
round, with additional funding from other new and prior investors. Anark
plans to raise a minimum of $2.2 million in a second closing that would bring
the total Series B round to $8 million. The company will use this round of
funding for marketing and sales efforts, staff expansion and continued product
NASHUA, NH — Dialout.Net Inc., announced today that Kodiak Venture Partners of Concord, MA, has provided $4.5 million in series B venture capital financing. The funding is earmarked for domestic and international sales and marketing, development of new services, and network expansion for the company’s Internet-based alternative to traditional modem communications infrastructure.
ATLANTA — Neovest Holdings Inc., the holding company for Neovest Inc. and Neovest Trading Inc., announced today the completion of its $5 million Series C round of financing. Conning Capital Partners, a private equity group that specializes in financial services, led the round. Neovest provides software technology and research for investors and traders. As Neovest is near profitability, the funds will be used primarily to expand existing operations and develop and market new products.
KIRKLAND, WA & LAKE OSWEGO, OR — OVP Venture Partners today announced it has completed its first closing on OVP VI.
The firm initially closed on $160 million, its largest fund to date.
As in previous funds, OVP VI will focus on early-stage companies in the Northwest with an emphasis on information technology and communications infrastructure. An additional side-by-side fund backed by leading entrepreneurs also will be formed (OVP VI Entrepreneurs Fund) and is anticipated to close on or before Q1 2002, the targeted final closing for OVP VI. The total of all related OVP VI funds is expected to be $200 million.
THE NETHERLANDS — Euroventures Benelux Team B.V., the management company that oversees two Euroventures Benelux Funds, today announced that it has distributed its investment in DPAC Technologies Corp. (Nasdaq:DPAC) held in its Euroventures Benelux I B.V. fund, which is in a liquidation phase, to the other Euroventures Benelux fund and various institutional investors who were shareholders of the fund. The venture fund transferred a total of 2,035,018 shares, of which 468,869 shares were acquired by an affiliated fund, Euroventures Benelux II, 491,985 shares were distributed to Euroventures BV and 407,004 shares were distributed to the shareholders of Euroventures Team B.V., who are management and former personnel of the funds. The balance of the shares was distributed to eight European institutional investors, which have long-standing relationships with Euroventures. As a result of this distribution, the remaining Euroventures fund, Euroventures Benelux II, holds 2,291,800 shares of DPAC, representing approximately 11 percent of the outstanding shares.
MONTREAL — Hydro-Quebec CapiTech has acquired a financial interest worth US $1 million in Solicore Inc. As a result, CapiTech now owns a minority interest of the voting shares of this company, whose head office is located in Lakeland, Florida. Solicore has now completed a first round of financing for $3 million
Solicore Inc. is the outcome of the merger of Leading Edge Technologies Inc., which specializes in the design of equipment for manufacturers of rechargeable batteries, and Skylab Technology Group Inc., which holds patents on a new type of solid polymer electrolyte used in lithium batteries. Solicore intends to become a leader in the rechargeable battery industry.
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