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Austin-Based Troux Technologies Raises $10M

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Troux Technologies, Inc., a Strategic IT Planning and Control software provider, has secured a $10m investment made by Austin Ventures, Greylock Partners and a consortium of Scandinavian investors.
Proceeds will be used to further expand reach into new geographies and extend recent sales momentum.
The investment follows a period of record revenues and growth for Austin, Texas-based Troux.
Troux’s software enables large organizations to better plan and execute major business transformations, enabling strategic cost reductions and improving business agility.
According to an official statement, the investment follows a period of record revenues and growth for Troux. Recent product adoption has been especially successful in new markets in the Scandinavia, Central Europe and Asia markets. Existing markets such as the US commercial market, US federal government market and German markets continue to show strong demand as well.
David Hood, chief executive officer of Troux, was reported as saying: “Despite the global recession, we have made significant progress in our expansion plans, proving our ability to win business and drive customer success in major organizations around the globe.
“Our investments in new channels and technology partners have started to pay dividends and as economies start to grow again, it’s now time to invest further to scale our market opportunity”.
FinSMEs
09/10/2009

USA, SBA Teams up with Count Me In to Promote Women’s Entrepreneurship

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The U.S. Small Business Administration (SBA) and Count Me In for Women’s Economic Independence (CMI) launched a cooperative Strategic Alliance Memorandum to promote opportunities for women entrepreneurs through education, training and counseling.

In the framework of the alliance, SBA and CMI will develop a joint podcast on business start-up and financing, as well as a Web chat on small business issues affecting women entrepreneurs.

Commenting on the initiative, SBA Administrator Karen G. Mills, said: “SBA shares a common mission with Count Me In to help encourage more women to be entrepreneurs and to give them the tools to succeed as business owners.

“Coordinating efforts with this tremendous organization will help to ensure that we reach even more women-owned small businesses”.

FinSMEs
09/10/2009

bwin Acquires Italy’s Gioco Digitale

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bwin, a provider of sports betting, poker, casino games, soft and skill games, as well as audio and video streams of top sporting events, announced the closing of Gioco Digitale S.p.A acquisition.
Gioco Digitale’s management team joins bwin to develop poker and other products in European markets where liberalization and local regulation are emerging.
The operational business of the bwin Group is carried out by subsidiaries and associated companies on the basis of licences.
Its holding company bwin Interactive Entertainment AG, which is listed in the ATX on the Vienna Stock Exchange, provides various services such as software development, marketing, communications, human resources and finance for its subsidiaries and associated companies.
According to an official statement, the deal will enable bwin to capitalize on the growth potential of the Italian online gaming industry which is supported by modern, pro-active regulation.
FinSMEs
08/10/2009

Swedish Aluwave Attracts SEK 2.3M

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Aluwave, a Swedish company specializing in electronics cooling technology, raised SEK 2.3m (approximately $330,000) in a venture capital funding round led by Chalmers Innovation Seed Fund, with participation from previous owners.
Mölndal-base-Aluwave designs and delivers customised light engines built on LED technology and the funds from the investment will be used to continue to expand the company’s market in this field.
Explaining the reasons behind the investment, Timo Lehes, Investment Manager of Chalmers Innovation Seed Fund, said: “We strongly believe in this company and its unique expertise in lighting solutions. Additionally, customers want to buy more and more ready-made solutions, which Aluwave can offer”.
Most of Aluwave’s customers come from the automotive, architectural, design, sports and work light industries.
FinSMEs
08/10/2009

EIB Agrees €3M Loan for SMEs in the Cook Islands

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The European Investment Bank (EIB) agreed a €3m global loan with the Bank of the Cook Islands to improve access to finance from local small and medium sized enterprises (SMEs) and micro-sized initiatives.
This agreement extends the EIB’s Pacific Islands Financing Facility (PIFF) for the first time in the Cook Islands, alongside similar loans signed in Samoa, Tonga, Palau and Niue.
According to an official statement, the project represents one of a series of actions financed by the EIB in the south Pacific region currently being approved during a regional tour by Bank representatives.
FinSMEs
08/10/2009

Eka Secures US$10M in Funding from Nexus Venture Partners

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Eka Software Solutions, a provider of multi-commodity trade and risk management solutions, has received a US$10m funding commitment from Nexus Venture Partners.
Commenting on the the funding, Mr. Manav Garg, Founder & CEO of Eka Solutions, said: “The new funding will allow us to further enhance our technical, support and sales capabilities, and help capitalize on current opportunities to accelerate our growth”.
Eka Software Solutions, which serves companies that buy, sell or trade commodities around the world, has more than 200 employees in its offices in Bangalore-India, Richmond-UK, and Norwalk, Connecticut-USA.
FinSMEs
08/10/2009

Canada, Fresco Microchip Raises C$10M

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Fresco Microchip Inc., a developer of signal processing integrated circuits (ICs), closed a C$10m financing round led by Celtic House Venture Partners and Ventures West.
Fresco will use the funds to expand its commercial activities and bring new products to market.
Its demodulators and IF processors enable television tuner can manufacturers to build low cost, ultra-thin products with improved picture quality.
Founded in 2004, the company is headquartered in Toronto, Canada, with design centers in Ottawa, Canada and Irvine, California.
FinSMEs
08/10/2009

Amsterdam-based BMEYE Completes €6M Series B Financing Round

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BMEYE B.V., a provider cardiovascular monitoring systems, completed its 6m Series B financing round led by new investors Earlybird with participation from 360 Capital Partners, Life Sciences Partners and Techfund.
The funds will support the accelerated growth program of the company based on further product introductions and development of the sales channel.
Commenting on the round, Rob de Ree, BMEYE’s Chief Executive Officer, said: “We are pleased to have completed this financing round, especially given today’s challenging economic climate”.
Amsterdam-based BMEYE, which was founded in 2005, closed its Series A round with LSP as the lead investor in 2006.
FinSMEs
08/10/2009

Pacific Biosciences Receives Nearly $2M in NIH Grants

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Pacific Biosciences, a Menlo Park, CA-based company developing a technology platform for real-time detection of biological events at single molecule resolution, has received grants totaling more than $1.9 million from the National Institutes of Health (NIH).

The awards are part of the American Recovery & Reinvestment Act of 2009 Research and Research Infrastructure “Grand Opportunities” grants program.
The grants received through the National Human Genome Research Institute (NHGRI) of the NIH include $1,190,022 divided over two years to support the development of a direct DNA methylation detection method.
According to the NHGRI, the new awards will stimulate ground-breaking research in studies ranging from those aimed at understanding the function of the human genome to those intended to lead to improvements in the prevention, diagnosis and treatment of human illness.
The company also received $714,406 in funding toward its existing NIH grant to support the continued development of its single molecule real time (SMRT) DNA sequencing technology. The funds will be used to support further performance enhancements and additional scientific publications describing the SMRT technology.

FinSMEs

08/10/2009

Hamburg-based Playnik.com Raises Venture Capital Funding

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wwg worldwidegames GmbH, the developer of the browser games community portal playnik.com, received funding from Hamburg-based venture capital company Neuhaus Partners and the Connected Life and Work Fund managed by T-Venture.
Existing investors Holtzbrinck Ventures and High-Tech Gründerfonds also participated in the investment.
Playnik.com offers both proprietary browser games and games developed by its partners in the fast-growing massively multiplayer online games (MMOG) market.
Commenting on the funding, Robert Johnsson, CEO of playnik.com, said: “Playnik.com is already represented in Europe’s most important markets; we have been able to develop North and South America as well.
“With the help of our investors, we can really speed up internationalization and integrate more social gaming functions as well as new games on playnik.com”.
FinSMEs
08/10/2009

USA, Reality Mobile Secures $6.5M

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Herndon, VA-based Reality Mobile has secured $6.5m in expansion capital in a round led by Energy Ventures, in conjunction with CTTV Investments LLC and Dobson Partnership.
Founded in 2003, Reality Mobile develops a mobile technology which gives users access to video, data and expertise throughout their organization and the world.
The proceeds will allow Reality Mobile to bring its mobile collaboration platform – proven in the government and defense markets – into the energy sector, and launch a Houston office with sales and support staff.
FinSMEs
08/10/2009

UK-Based Biotechnology Plaxica Raises £1M

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Plaxica, a UK-based biotechnology company, raised £1m in a funding round led by Imperial Innovations Group plc, with participation from Carbon Trust Investments Limited and the National Endowment for Science, Technology and the Arts (NESTA).

Imperial Innovations invested £400,000 of the new funds with the rest of the investment coming from Carbon Trust Investments Limited and NESTA.

Plaxica develops technology to make a sustainable polymer at a cost, and with the properties, that can directly compete with high volume plastics made from fossil oils.

The funds will be use to help Plaxica’s continued development of new and more energy-efficient ways to create high-quality biodegradable plastics from renewable sources with a wide variety of applications.

FinSMEs

08/10/2009

Engine Yard Closes $19M Series C Financing Round

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San Francisco, CA-based Engine Yard, a provider of automation technologies and services for Ruby on Rails, including Engine Yard Cloud, an application services platform for web developers and web teams, has secured $19m.
This is the company’s third round of venture capital funding, bringing its total funding to date to more than $37m.
The round includes new investors DAG Ventures, Bay Partners, and Presidio Ventures with participation from previous investors Benchmark Capital, Amazon.com and New Enterprise Associates.
The proceeds will be used to continue to build out the Engine Yard Cloud to meet enterprise requirements, build support offerings for JRuby development teams, and continue to invest in the open source projects that are bringing new levels of productivity to developers worldwide.
FinSMEs
08/10/2009

UK, Lysanda Closes £1.3M Funding Round

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UK automotive systems specialist Lysanda raised £1.3m in a second venture funding from Curzon Park Capital through the Sustainable Technology Fund (STF).
The STF led the round of funding for the company’s Eco-Log™ system which helps reduce vehicle fleet running costs and minimise environmental impacts by providing highly accurate data on fuel consumption and wastage.
In addition, the round, which closed on 1 September 2009, provides funds for Kelvedon, Essex-based Lysanda to take the technology to commercial rollout following successful trials with a number of corporate customers.
FinSMEs
08/10/2009

Spain, EIB Finances Expansion of Port of Las Palmas

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The European Investment Bank (EIB) approved a € 50m loan for expanding the Port of Las Palmas on the Canary Islands, Spain.
According to an official statement, the loan will help to finance the seaward expansion of the Port of Las Palmas de Gran Canaria, including the construction of a new breakwater (the “Sphinx”) and the creation of new terminal areas for ro-ro ferry traffic and logistics.
All components of the project are scheduled for completion by the end of 2013 so that the new terminal areas can enter into service in early 2014.
The project, which will contribute to boosting competitiveness and employment in the region, is expected to increase the capacity of the port, the island of Gran Canaria’s main port and a key element of the trans-European transport network (TEN) – so that it can cater for projected container and passenger traffic.
FinSMEs
08/10/2009
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