QD Vision, Crimson Hexagon, and Other Boston Startup Financings Fit Trend Across Industries

5/24/11Follow @gthuang

Busy day for company financings, as everyone gets ready for the holiday weekend (and unofficial start of summer).

It’s worth noting the step up in dollar amounts as you go from Internet software and social media ($5M), to nanotech/materials ($22M), to cleantech and energy ($57M), to biotech/pharma and life sciences ($91M). Yes, biotech and energy companies require a lot more money than some other fields. Here’s a quick rundown of today’s deals:

—Crimson Hexagon, a Cambridge, MA-based social media monitoring and analysis startup, has raised $5 million in Series B financing from Charles Dolan, founder and chairman of Cablevision Systems (NYSE: CVC). Crimson’s relatively new CEO, Patricia Gottesman, is a 28-year veteran of Cablevision. Xconomy’s Erin Kutz spoke with Gottesman shortly after she took over as CEO in February. I spoke with her predecessor, Scott Centurino, last fall. And our colleague Wade Roush wrote about the Harvard spinoff back in 2008, here and here.

QD Vision, a Watertown, MA-based developer of nanomaterials for displays and lighting applications, has raised $22 million from North Bridge Venture Partners, Highland Capital Partners, In-Q-Tel, and DTE Energy Ventures, as well as new investors Passport Capital, Novus Energy Partners, and Capricorn Investment Group. Xconomy wrote about the MIT startup’s quantum dot technology last year. You can read more about QD Vision’s latest stuff in this Technology Review story from last week.

—Harvest Power, a Waltham-based cleantech and waste management firm, topped off its recent Series B round with an additional $6 million from new investor SAM Private Equity, bringing the total round to $57.7 million. The startup’s other investors include Kleiner Perkins Caufield & Byers, Waste Management, Munich Venture Partners, TriplePoint Capital, DAG Ventures, Keating Capital, and Generation Investment Management (Al Gore’s firm).

—Radius Health, a Cambridge, MA-based biotech firm targeting osteoporosis (bone loss), raised $91 million in a third round of financing to be used to complete pivotal Phase 3 clinical trials for its drug candidate. The company’s investors include MPM Capital, BB Biotech Ventures, MPM Bio IV NVS Strategic Fund, the Wellcome Trust, HealthCare Ventures, and Scottish Widows Investment Partnership, as well as new investors Brookside Capital, Saints Capital, Nordic Bioscience, and Ipsen Pharma. To give a sense of the scale of investment, Radius had previously raised $106.5 million in total. Xconomy profiled Radius back in 2008, when a clinical trial of its drug, BA058, had just started.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @gthuang

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