Spark, Bezos Back Aviary, American Well Nabs $10M, Virdante Banks $30M, & More Boston-Area-Deals News
An unusually high percentage of this week’s New England tech and life sciences deals came from companies based in Boston proper. What’s up with that?
—Spark Capital of Boston led a $7 million Series B investment in Long Island, NY-based Aviary. Backed also by Bezos Expeditions, Aviary makes cloud-based software for graphic design, audio editing, and the like.
—Boston’s American Well, whose Web-based medical consultation system in used by several large health insurance plans, raised $10 million in new equity funding, according to a regulatory filing. Investors in the round were not named.
—Waltham, MA-based Axeda raised $5 million in a Series B funding round led by JMI Equity and $4 million in venture debt from MMV Financial. Axeda provides a cloud-based system for wireless tracking of company assets.
—Raytheon (NYSE:RTN), also of Waltham, completed its buyout of Cambridge, MA-based BBN Technologies. The purchase price, which wasn’t disclosed when the deal was announced, was about $350 million.
—E-commerce firm GSI Commerce (NASDAQ:GSIC) agreed to acquire Boston-based Retail Convergence Incorporated (RCI) for $180 million in cash and stock and as much as $170 million in performance-based payments. RCI owns Rue La La, an invitation-only website selling designer clothing and accessories at a discount, and Smart Bargains, a site selling more affordable clothing, jewelry, and home goods.
—SEC filings indicate that Burlington, MA-based coronary stent maker CorNova raised $2.5 million of a proposed $6 million in equity financing. Investors in the deal were not specified.
—Cambridge, MA-based Virdante Pharmaceuticals completed a second closing of its Series A financing round, bringing the total raised so far to $30 million. Investors have promised to boost that number to $47.75 million if the startup, which is developing new antibody-based drugs to combat autoimmune diseases, meets certain milestones. Ryan has a nice profile of Virdante and its technology.
—Boston’s ScanScout, an online video ad provider, completed its $8.5 million Series B round of venture capital. EDB Investments, which invests on behalf of the government of Singapore, provided the cash.