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July 12, 2005
Startups on the Fundraising Trail
Want to know which private companies are currently raising money in the late-stage VC market? Click on the extended entry.
* Alien Technology Corp., maker of radio frequency identification tags, is raising $25 million in its eighth round of preferred-stock financing. Prior investors include New Enterprise Associates and Sevin Rosen Funds. This company is often mentioned as a likely IPO candidate.
* Good Technology Inc., maker of software for wireless devices, is raising $65 million in its fifth round of preferred-stock financing. Prior investors include Kleiner Perkins Caufield & Byers, Benchmark Capital, and Clearstone Venture Partners. This company is also on the radar of IPO-watchers.
* Celetronix USA Inc., provider of electronics manufacturing services, is raising $5 million in a private convertible note offering. Prior investors include New Enterprise Associates and Golden Gate Capital.
* FireFly Mobile Inc., maker of mobile phones for kids, is raising $10 million in its second round of preferred-stock financing. Prior investor is ComVentures.
* Ygnition Networks Inc., provider of broadband Internet service to apartment and condo dwellers, is raising $17 million in its fourth round of preferred-stock financing. Prior investors include ComVentures and Chrysalis Ventures.
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Sure startups are getting funded, but the REAL question is what percentage of startups are getting seed capital? Most VC's don't have the acumen necessary to be good VC's, hence the piss poor returns of late and the clawbacks.
Posted by: Derek at July 19, 2005 05:42 PM