Three New England Deal Stories: Startups Pursuing Emotional Sensors, Drugs for Pets, & Mobile Video Raise Some Bucks
We spotted three New England startups today that have recently filed papers with the SEC to report new rounds of equity financing. Other than their common geographic ties to region, it’s tough to see any relationship among these firms. But here’s a brief synopsis of the deals and what each company does:
—Waltham, MA-based Affectiva reports it has raised $1.7 million of a planned $2 million round of equity financing. This spinout of the MIT Media Lab is developing a biosensor, called the “Q,” that is designed to “measure and communicate emotional arousal” of the person wearing it, according to the firm’s website. The company says that it grew out of a collaboration at MIT to find ways to help people with varying degrees of autism. Rosalind Picard, the director of the Affective Computing Research Group at MIT, is listed as a director and executive of the company. (These filings don’t list investors in the companies.)
—Meanwhile, Westford, MA-based Aylus Networks, previously backed by Matrix Partners and North Bridge Venture Partners, reported raising $5.7 million out of a planned round of about $9.3 million. The company, formed in 2005 by wireless entrepreneur Shamim Naqvi, seeks to enable rich data communications such as video telephony, video blogging, video sharing, and social networking for mobile operators.
—Have you found yourself willing to shell out gobs of cash on your pet’s drugs? I have, and I’m sure many other people have, too. Putney, a Portland, ME-based provider of specialty drugs for the veterinary market, reports that it has raised $6.6 million of a proposed $6.8 million round of equity financing. The company—which was founded in 2006 by pharmaceutical entrepreneur and CEO Jean Hoffman—says that it plans to double the size of its staff, revenues, deals, and more in 2010. (I’ve got a guess as to how the new capital will be spent.)