Ramgen Power Gets $20M, Best Buy Backs Dashwire, WildTangent Teams Up With Mochi, & More Seattle-Area Deals News
It was a relatively busy week in the Northwest, with lots of little deals in biotech, software, mobile, and gaming, and one big deal in cleantech. We’ll see if the pace quickens before the unofficial start of summer…
—Luke reported that Redmond, WA-based CoAptus Medical, maker of a catheter device for sealing up heart defects, raised $3 million in funding. The company is led by chief executive Joe Eichinger, and its board of directors includes David Auth and Robert Van Tassel.
—The latest biotech startup out of Seattle-based Accelerator, called Xori, received $2.1 million out of a $4.5 million financing round, as Luke reported. Xori (pronounced Chore-ee) is trying to develop antibody drugs through a novel technique in genetically modified chicken cells, based on technology from the lab of immunologist and biochemist Nancy Maizels at the University of Washington.
—Seattle-based Alliance of Angels announced its new $4.25 million seed fund, which it will invest in early-stage startups alongside other individual investors. Alliance of Angels said it plans to make seven to 10 investments a year with the fund, over a period of three to four years.
—Bellevue, WA-based Ramgen Power Systems secured $20 million from the federal stimulus package to develop technology for capturing and storing excess carbon emitted by power plants, Luke reported. Ramgen, which is led by CEO Douglas Jewett, has previously raised $22 million in private funding and $26 million in government funding.
—Seattle-based SynapticMash, an educational software firm, raised $1.25 million in new funding. The company, which was founded in 2007, is led by CEO Ramona Pierson and previously raised $3 million last June.
—Seattle-based Delve Networks, an Internet video publishing and management startup, raised $1.65 million in new funding. Delve (formerly called Pluggd) was co-founded in 2006 by chief executive Alex Castro. The company also announced its revenue has more than doubled—with 130 percent growth—since the start of 2009. It didn’t provide specific revenue numbers.
—Dashwire, a Seattle mobile software startup, raised $1.6 million out of a $2.3 million offering from Best Buy Capital and angel investor Geoff Entress. The company, which is led by founder and chief executive Ford Davidson, makes software that automatically syncs your mobile phone to your laptop, desktop, and the Web, so you can do things like share photos, migrate content between devices, and send text messages from your laptop. Best Buy will contribute insight into consumers, who seem frustrated by how difficult it is to synchronize their various devices.
—Redmond, WA-based WildTangent, the online game publisher and ad network, formed a partnership with San Francisco-based Mochi Media to create the largest online-game advertising network in the U.S. Financial terms were not announced. The ad network will connect advertisers with 14,000 Flash games distributed across Internet portals and social networks with some 30 million customers per month.