World Energy Backs Retroficiency, American Superconductor Gets Finnish Firm, BuyWithMe Buys LocalTwist, & More Boston-Area Deals News
This week’s deal news spanned companies working on marketing, energy, daily deals, medical devices, and beauty products.
—Retroficiency, a Boston-based software-as-a-service firm focused on energy efficiency, announced it had raised $800,000 in funding from Worcester, MA-based energy management services firm World Energy (NASDAQ: XWES). Angel investors, including Jean Hammond and Jill Preotle, also provided funding for the startup, whose software tells consumers what the energy impact will be if they make changes to things like lighting systems, set points, and insulation.
—Andover, MA-based Stonewedge, a stealth firm focused on improving healthcare for seniors, raised $1 million in equity-based funding, an SEC filing showed.
—Nimbus, a computer-based drug discovery startup of Cambridge, MA, nabbed an undisclosed amount of seed funding from Bill Gates and Schrödinger, a global chemical simulation firm it is partnering with.
—Cambridge drug developer Epizyme scored $6 million upfront in a deal with Japanese drugmaker Eisai to develop drugs against an epigenetic enzyme for treating lymphomas and other cancers, and could earn another $200 million in milestones for research, development, and sales goals tied to the enzyme target.
—Clovr Media, a Boston-based online marketing startup with technology for linking discounts to credit and debit cards, snapped up $8.3 million in a funding round led by Bain Capital Ventures managing director Jeffrey Glass. The financing also included return Clovr investors Kepha Partners and CommonAngels, and newly announced angel investor Mark Wright.
—New York- and Boston-based group buying startup BuyWithMe acquired LocalTwist, a daily deals site running in Seattle and San Diego and soon to be more cities. The move sends a competitive message to Seattle-based Tippr, another group buying startup in Seattle that has filed lawsuits against BuyWithMe, one alleging patent infringement and another that claims one of its former employees provided insider information to BuyWithMe.
—Devens, MA-based energy giant American Superconductor (NASDAQ: AMSC) said it was acquiring The Switch Engineering Oy, a Finnish power technologies firm, for 190 million Euros (about $265 million) in a cash and stock deal expected to close in August. American Superconductor said the acquisition will help support its growth to $1 billion in yearly revenues by 2014.
—Nimbit, a Framingham, MA-based music marketing startup, said it has raised $1.25 million in two rounds of funding, which it will put toward increasing its product team and developing a direct-to-fan product.
—Cambridge-based high-tech beauty products company Living Proof said it wrapped up $16 million in a Series B funding round. The money will go to R&D and distribution, and comes from Piper Jaffray Merchant Banking and Polaris Venture Partners, which founded Living Proof with MIT inventor (and Xconomist) Bob Langer.
—Cambridge-based OmniGuide, a maker of laser technology medical devices, raised $3.5 million in equity financing from nine investors.
—Education technology provider DYMO/Mimio of Cambridge announced it has bought Headsprout, a Seattle-based reading education software maker, for an undisclosed sum.