Khosla, Sunpreme, Grockit: Bay Area BizTech News by the Numbers
Time for our periodic data-driven roundup of company news from the San Francisco and Silicon Valley tech world.
$1.05 billion—The size of Khosla Ventures IV, the new investment fund closed last week by Khosla Ventures, the Menlo Park, CA-based investing firm founded by Sun Microsystems co-founder Vinod Khosla. As with its first three funds, the firm plans to concentrate on cleantech, IT, mobile, and Internet investments.
$440 million—The size of a new venture fund raised by Sofinnova Ventures, as Luke Timmerman explained this morning. It’s the eighth fund for the Menlo Park, CA-based firm, which invests exclusively in companies developing new drugs.
$50 million—New funding raised by Sunnyvale, CA-based Sunpreme for a solar panel factory in Jiaxing, China, according to an announcement today. The capital comes from the World Bank Group through its private sector investment arm International Finance Corporation, as well as existing investors Capricorn Investment Group and Tsing Capital.
$7 million—A Series D investment for Grockit, the San Francisco-based provider of online test preparation programs. The funds came from new investors NewSchools Venture Fund and GSV Capital Corp. as well as previous backers Atlas Venture, Benchmark Capital, and Integral Capital Partners.
$538,114—The portion of a planned $1.076 million funding round collected so far by San Francisco-based Ditto.me, according to a regulatory filing. The startup, which was founded by Jaiku co-creator Jyri Engestrome and is backed by True Ventures, makes a social recommendation app for the Apple iPhone.
30 megawatts—The combined output of two solar power plants to be built by San Francisco-based Q-Cells North America in California’s Central Valley, under an agreement announced this week with Pacific Gas & Electric.
22.6 percent—The rise in the stock price for Ubiquiti Networks (NASDAQ: UBNT) since its initial public offering on Friday at $15.00 per share. The company makes base stations and other equipment for commercial-scale Wi-Fi networks.
5—The number of employees at San Francisco-based social media marketing startup Flowtown, which has been acquired by marketing automation provider DemandForce. Xconomy profiled Flowtown in November 2010. The company originally helped marketers convert e-mail lists into networks of social contacts on Facebook and Twitter, but had to change business models after Facebook moved to prohibit brokering of user information; the company’s new product was a Twitter scheduling tool called Timely. Flowtown was backed by Lotus founder Mitch Kapor, Mint.com investor Mark Goines, 500Startups founder Dave McClure, Baseline Ventures partner Steve Anderson, and Red Swoosh founder Travis Kalanick.