Roundup, deals, startups

Segway Scooting Toward $14M, Follica Fixes on $11M, HP Hooks Up with Colubris, & More Deals News

Rebecca Zacks 8/18/08

Last week was a quiet one for New England tech and life sciences firms, but there was a steady stream of small deals nonetheless.

—Boston-based Follica, which is developing a treatment for baldness, raised $11 million in a Series B round led by new investor Polaris Venture Partners and joined by existing investors Interwest Partners and PureTech Ventures.

—Waltham, MA-based wireless network provider Colubris Networks accepted a buyout offer from Hewlett-Packard (NYSE:HPQ) of Palo Alto, CA. Financial terms of the deal were not disclosed.

—PatientKeeper of Newton, MA—a 12-year-old software firm whose products let doctors view patient health records, prescribe drugs, and so forth from mobile and desktop computers—closed a Series F funding round worth $7.5 million from Frazier Healthcare Ventures and New Enterprise Associates.

—Quincy, MA-based investment firm Allied Minds invested an undisclosed amount of seed funding in Seattle’s AXI, formerly known as Voltan Biofuel. The startup is aiming to commercialize technology, developed at the University of Washington, for using algae to produce oil for biofuels.

—Information-security firm NitroSecurity of Portsmouth, NH, secured $10 million in venture financing. The deal was led by NewSpring Ventures of New Jersey and Pennsylvania.

—Lockheed Martin Corporation (NYSE: LMT) acquired the government business unit of Woburn, MA-based Nantero, a startup developing NRAM, a carbon-nanotube-based form of computer memory.

—Bedford, NH-based Segway has reportedly raised $5 million toward a $14 million Series D round. Segway closed the final tranche of a $35 million Series C round in the second quarter.