BEVERLY, Aug. 8 Insulet Corp., a developer of disposable
insulin delivery systems for the treatment of diabetes, recently
closed an $11 million round of venture capital from new investors
Versant Ventures and Schroder Ventures Life Sciences and founding
investor, Prism Venture Partners. Funding raised in this oversubscribed
round brings the company's total financing to $12 million.
Founded in August 2000, Insulet will use the capital to make
several senior management additions, expand research and development
and initiate its marketing efforts.
CHELMSFORD, Aug. 9, SnowShore Networks raised $20 million
in a second round of equity funding. St. Paul Venture Capital
led the round with existing investors Charles River Ventures
and Matrix Partners also participating. Founded in May 2000,
SnowShore Networks provides IP communications infrastructure
products to service providers worldwide. The capital will
be used to deliver and market the company's media server,
an IP-optimized media-processing platform that blends voice
and dynamic web content to enrich the user's communications
experience.
CONCORD,
Aug. 13, Tiaris, a provider of fabless semiconductor
system-on-a-chip technologies for multimedia applications,
received $9.5 million in first round funding led by Kodiak
Venture Partners, with participation from Giza Venture Capital
and The Cedar Fund. Founded in 2000, Tiaris will use the
funding for R&D and further expansion of the company's
U.S. operations.
BOSTON,
Aug. 13, geoVue (formerly Geonomics, Inc.), a provider
of location intelligence solutions, announced the close
of a $2.5 million Round A funding from venture firms including
Claflin Capital Management, Massachusetts Technology Development
Corporation (MTDC), Mid-Atlantic Venture Funds, and Boston
Community Capital. Founded in 1993, geoVue develops technology
for retail and real estate strategy and planning.
LAWRENCE,
Aug. 13, NxStage Medical, which is developing medical
devices for kidney failure patients, completed a $29 million
Series D round of financing from Adam Street Partners, Atlas
Venture, Lightspeed Venture Partners, and The Sprout Group.
NxStage was spun out of Vasca in April of 1999. Vasca is
a privately funded, Tewksbury based medical device company
that has also developed a hemodialysis system. Weiss Peck
& Greer Venture Partners participated in NxStage's initial
round of funding in Q2 of 1999. NxStage Medical is working
towards the development of novel technologies for the treatment
of end stage renal disease.
WESTBOROUGH,
Aug. 15, InfiniSwitch Corporation completed a $26 million
Series B round of financing led by Bessemer Venture Partners.
Founding investors OneLiberty Ventures and NewcoGen Group
and new investors Columbia Capital, TL Ventures and Moore
Capital Management also participated. InfiniSwitch is designing,
developing and delivering switch and system solutions for
the data center and has raised a total of $30 million since
its founding in Fall 2000. |
