Ortiva Raises $8M, VMIX Establishes European Beachead, Three Finalists Selected for Venture Group’s $20K Pitchfest, & More San Diego BizTech News
We had a lot of health IT news over the past week in San Diego. Get your latest update now.
—The Senate Committee on Small Business and Entrepreneurship heard testimony last week on the heavier regulatory burden that small businesses bear. In a statement, Tim Tardibono, Connect’s director of public policy in Washington, DC, called for Congress to examine the “unequal impact federal regulations have on small businesses,” especially those that are likely to hinder innovation. Tardibono cited a recent report released by the Small Business Administration’s Office of Advocacy that says complying with federal regulations costs small businesses 36 percent more than large companies.
—With a recent infusion of $2.5 million in capital, San Diego’s VMIX said it plans to open offices in London and Glasgow. The launch of VMIX UK is the first stage in a plan to establish the online video technology developer as a global provider, according to CEO Pat Burns.
—San Diego’s Ortiva Wireless said it raised $8 million in a Series C round to expand sales, marketing, and engineering resources for technology that optimizes video on wireless networks. Intel Capital led the round, which was joined by existing investors Comcast Interactive Capital, Artiman Ventures, and Mission Ventures of San Diego.
—San Diego’s ecoATM, which has developed innovative kiosks to recycle cell phones and other types of consumer electronics, said it won one of the coveted “Best of What’s New” awards given by Popular Science each year.
—Three startup companies have made it to the Dec. 2 finals of the San Diego Venture Group’s 11th annual holiday dinner and “PitchFest” business plan competition. The companies are Aonori Aquafarms, which has developed green technology for sustainable shrimp production; CortiCare, which provides hospitals and clinics with continuous EEG patient monitoring systems; and TakeLessons.com, which has developed a software platform to manage music lessons in over 2,800 cities across the U.S. The venture group will present the winner with a $20,000 check, depending on how the audience casts its ballot.
—In preparation for last week’s Xconomy Forum on Health IT, I put together what was intended to be a definitive list of health IT companies based in the San Diego area. Our event went off without a hitch, thanks to many people who stepped up when I was waylaid by a medical emergency. My personal thanks to Lisa Suennen of the Psilos Group (and who is a San Francisco Xconomist), Xconomy’s Michele Gerus, and to everyone who helped make the forum a success in my absence!