MaxLinear Scores Successful IPO, $321M V-Vehicle Loan Request Rejected, Genomatica Raises $15M in VC Funding, & More San Diego BizTech News

3/29/10Follow @bvbigelow

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an “environmentally friendly” vehicle, which turned out to be a gasoline-powered four-passenger car.

IT executives from some of San Diego’s better-known employers, including Lockheed Martin, Cymer, and Websense, held a debut meeting of the San Diego-based Industry Council for Competitiveness and Globalization. The ICCG is working to find new ways to retain local IT jobs and to counter the effects of foreign outsourcing.

Genomatica, a San Diego company using biotechnology to take the petroleum out of the petrochemical industry, raised $15 million in a third round of venture funding that was led by TPG Biotech. Existing investors Mohr Davidow Ventures, Alloy Ventures, and Draper Fisher Jurvetson joined in the round, which will enable Genomatica to build a demonstration plant and expand its development of other “sustainable chemicals.”

—San Diego-based Avaak, which is developing wireless mesh video surveillance technology for consumers, raised $10 million in a second round of venture funding led by Qualcomm Ventures. Joining … Next Page »

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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