San Diego VC Activity Falls 55 Percent, Ford Adopts Focus as EV “Tech Platform,” Verve Raises $3.5M, & More San Diego BizTech News

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Verve Wireless, a mobile advertising platform company based in Encinitas, CA, and Bethesda, MD, has raised $3.5 million of a planned $6 million from investors. Verve previously raised $12 million from BlueRun Ventures and the Associated Press.

—San Diego-based Cymer (NASDAQ: CYMI) said that TCZ, its division that has been developing systems used to make advanced flat panel displays, has received a volume order for TCZ’s new Gen 5.5 crystallization system from an unnamed leading Asian flat panel display (FPD) manufacturer. The company says this represents TCZ’s second volume order in 2011 and its fourth tool customer. Cymer said its TCZ-1500B system is used for the production of advanced liquid crystal display and next-generation organic light-emitting diode displays. Cymer told me last year that TCZ would sell its tools at a range of $7 million to $12 million per system.

—The San Diego-based West Wireless Health Institute awarded a $10,000 prize to Steven Palmer, a Rhode Island software developer, for an iPhone app he developed for use in a monthly self-examination for signs of melanoma. Palmer answered a challenge the institute issued six months ago in conjunction with the Veterans Affairs Innovation Initiative (VAi2).

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

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  • What do you think is the reason for the sharp decline in VC funding in San Diego? It’s a bit concerning.