Return to search

Private Equity Week Wire for Tuesday 3/27 2

BOTHELL, WASH — Optical networking components
developer Lumera Corp., a subsidiary of Microvision, Inc. (Nasdaq: MVIS), announced today that it will complete a $24 million round of financing led by Cisco Systems, Inc. Lumera is developing a new generation of unique active and passive components for optical networks that are expected to deliver increased bandwidth at very competitive costs while requiring less power than current
devices. The company says that its technology also sets the stage for
integrated optical systems-on-a-chip.

SCOTTSDALE, ARIZ — Alexander Wilmerding, principal, Boston
Capital Ventures, has been appointed to the board of directors of KhiMetrics, Inc.,
announced Brent W. Lippman, KhiMetrics’ president and CEO. KhiMetrics is the first
solution provider to deliver a comprehensive revenue management that includes pricing
optimization as part of its application suite, enabling traditional,
multi-channel and Internet retailers to create recurring incremental revenue streams and
double-digit net profit improvements.

EL SEGUNDO, CA — CarParts Technologies, the leading
developer of supply chain management solutions for the automotive aftermarket, today
announced it has closed its third round of funding led by St. Paul Venture Capital, a $3
billion venture capital fund, and @Ventures, the affiliated venture capital arm of CMGI
(Nasdaq: CMGI). The capital will be used for product development, working capital, and
increased marketing sales and engineering resources. Since its founding in 1997, CarParts
Technologies has secured a total of $68 million in funding.

CAMBRIDGE, ENGLAND — Commtag today announced a US $5,000,000 funding commitment from leading European venture capital firm Amadeus Capital Partners. The
funding will be used to continue the development of Commtag’s recently announced unplug+play platform, and other wireless peer-to-peer networking products. Commtag is a rapidly expanding wireless technology company, specialising in enabling technology for person-to-person wireless applications and
services. Its unplug+play wireless platform enables the rapid development and deployment of applications using Bluetooth, 2.5G and 3G wireless networks.

(Nasdaq: ZPLS) announced today that it has received a $2 million bridge loan
that will allow it to proceed in implementing the expansion of the ZeroPlus
Voice over Internet Protocol (VoIP) network in order to serve more customers.
The 90-day loan is fully secured by ZeroPlus’s assets. The loan was extended by a high net worth individual investor who has requested not to be identified. The Company said the investor has been highly
successful as an investor in emerging technologies.

MIAMI — IFX Corp. (Nasdaq: FUTR) announced today that UBS Capital Americas III, L.P. and affiliates have agreed to provide approximately $15 million in additional capital by investing in newly issued IFX Series B Convertible Preferred Stock. Each share of Series B Preferred
Stock will have a purchase price of $3.50 and will be convertible into one share of IFX common stock. In addition, UBS Capital Americas will invest approximately $1.8 million and IFX approximately $3.2 million in Inc., a leading Latin American consumer dial-access provider.

IRVINE, CA — VSK Photonics Inc., a supplier
of active photonic components for fiber-optic telecommunications, today
announced it has received first round investment financing from Morgenthaler
Ventures and Intel Capital. This total investment of $18 million provides VSK
Photonics with additional resources to help aid its growth and deploy its core

SAN JOSE, CA — Novera Optics, a developer and manufacturer of photonic subsystems for communications equipment suppliers, announced today that it has raised $83 million in equity and debt in its second round of funding. The transaction was led by Octane Capital
Management. Other participants in the round included Agilent Technologies,
Amerindo Investment Advisors, Essex Investment Management, Intel Capital, KLM
Capital Group, Meritech Capital Partners, and Van Wagoner Capital Management.
First-round investors Enterprise Partners and Redpoint Ventures continued
their support of Novera Optics by participating in the second round of
funding. In addition to raising $53 million in equity investment, the company
secured a $30 million lease line from Western Technology Investment.

SAN JOSE, CA — LongBoard Inc., a leading telecommunications infrastructure software company, today announced the completion of a $24 million second round of financing. LongBoard provides Application Servers and an Infrastructure Software Platform (LMAP) that power
the convergence of voice and data for the new public network. Participating in this latest investment round are a number of new strategic investors, including Berkeley International, Sun Microsystems,
Nissho Iwai, and CrossBridge Partners. Leading this investment round is ABS
Ventures (Alex Brown). LongBoard’s initial backers — Enterprise Partners,
Storm Ventures, Interwest Partners, Charter Growth Capital, and Brad Peery
Capital Ventures — also participated.

NEW YORK — Draper Fisher Jurvetson Gotham Ventures (DFJ Gotham) today announced the $5 million Series A financing for Lumeta Corporation. Co-investors in the round included Draper Fisher Jurvetson Fund VII and meVC Draper Fisher Jurvetson Fund I (NYSE: MVC). As part of the investment, Ross Goldstein and Daniel Schultz, Managing Partners of Draper Fisher Jurvetson Gotham, have joined Lumeta’s board of directors. Lumeta, a spin out of Lucent New Ventures Group and Bell Labs, provides breakthrough technology in network management and security services.

Other Venture Capital News