VC-Backed Busts: SiCortex

#8. SiCortex Inc.

Maynard, Mass.-based maker of high-performance computing systems.

Investment
This is a bit of a weird one, in that SiCortex is not actually in our VentureXpert database. Instead, our info on its financing comes from a post on the website of Gerbsman Partners, which announced on May 28 that it had been retained to sell off the company’s assets. It listed $68.1 million in total funding from Flagship Ventures, Polaris Venture Partners, Prism VentureWorks, JK&B Capital and Chevron Technology Ventures.

What happened?
Again, not much background on this one. The Gerbsman post does not explain why the company shut down, particularly since its job is to make SiCortex as attractive as possible. Tech trade pub HCPwire reported that one of the VC firms pulled out of a new round due to a lack of available capital, although each of the above firms has dry powder — which makes me think that a pullout was more by choice than necessity. 

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