Every month, New York-based CB Insights casts its net for “under-the-radar deals” that provide less than $1 million in capital for technology and life sciences companies, and shares its catch with Xconomy editors in the five cities where we operate.
In its survey for June, the private company intelligence firm brought up seven deals in the San Diego area that range from $577,000 to $100,000, including four that are focused on innovation. Of those four companies raising capital, data from CB Insights and related regulatory filings show two were life sciences companies and two were tech deals. Here’s a rundown:
—Ridge Diagnostics, a four-year-old San Diego medical diagnostics startup that specializes in neuropsychiatric disorders, raised $577,000 of a planned $3 million financing that includes debt, options, and securities. Ridge Diagnostics was previously known as Precision BioLaboratory.
—Zacharon Pharmaceuticals, an eight-year-old San Diego biotech developing a new class of small-molecule drugs, raised $500,000 in a combination of debt, options, and securities financing that is targeting almost $1.9 million in capital. Zacharon, which is targeting certain genetic diseases, is developing drugs to block the production of specific molecules in a class of complex carbohydrates known as glycans.
—Envision Solar, the San Diego firm that develops energy-producing shaded parking structures known as “solar groves,” has raised almost $207,000 of a planned $2.65 million equity round. The solar development planning and design company also is pairing the installation of its “solar tree” in parking lots with battery storage and charging stations for electric vehicles. Envision Solar went public in May through a reverse merger, and the funding was arranged through a broker-dealer.
—Ambient Control Systems, a Poway, CA-based developer of self-powered sensor network technologies, raised $205,000 in equity investment. The company’s lead product is a network of solar-powered sensors used in backcountry areas to detect wildfires, triangulate their location, and transmit the information by satellite to regional fire or land management agencies. The company also is developing its sensor networking technology for perimeter security and other applications.