Confident Technologies Makes San Diego Debut, Startups Get Fresh Venture Funding, Peter Preuss Gets Inducted to Connect Hall of Fame, & More San Diego BizTech News
—Xconomy’s list of San Diego’s top 10 VC deals during the first quarter of 2010 included funding for three high-tech startups, although investments in life sciences and medical devices accounted for most of the money and deals. EMN8, which is developing automated kiosks for fast-service restaurants, raised almost $14.5 million; Avaak, which developed a wireless webcam system, got $10 million; and AwarePoint, which developed a wireless tag and tracking system for medical equipment and supplies, also got $10 million.
—Confident Technologies, a new startup with network security technology salvaged from Portland, OR-based Vidoop, announced its debut as a San Diego-based startup. The company says its image-based security technology is intuitive and easier for customers to remember.
—Connect inducted software industry pioneer Peter Preuss into its Entrepreneurial Hall of Fame, a pantheon that includes Qualcomm founder Irwin Jacobs, Idec Pharmaceuticals founder William Rastetter, and SAIC founder J. Robert Beyster. Preuss, the eighth inductee, founded ISSCO, one of the first software companies to specialize in computer graphics. He sold the company to Computer Associates in 1986.
—San Diego’s Imagine Communications, a five-year-old digital video startup, raised $10 million in a Series C round of venture funding from its existing venture investors. The company, which has now secured more than $34 million, specializes in digital video technology for cable TV operators.
—Google Ventures led a $5 million Series B round of venture funding for San Diego’s OpenCandy, a web-based venture that operates a kind of online marketplace for open-source software. The company, started by a group of former DivX techies, has raised a total of $8.5 million so far since it was founded.
—San Diego’s Qualcomm (NASDAQ: QCOM), the world’s biggest maker of wireless chips for mobile phones, delivered strong financial results for its fiscal second quarter—and a weakened outlook for the rest of the year. In reporting second-quarter profit of $774 million (46 cents per share) on revenue of $2.66 billion, Qualcomm showed that rapid growth in smartphone sales is helping to keep its operating margin at 29 percent. CEO Paul Jacobs also noted that 3G subscribers have now surpassed 1 billion worldwide.
—San Diego-based Cymer (NASDAQ: CYMI), which makes advanced laser systems used in semiconductor manufacturing, says it will report sales for the first time this summer from a new system it has developed for use in making ultrathin display screens. The company reported a profit of $16 million (53 cents a share) on revenue of $113.7 million for the first quarter of 2010.