A group of strategic investors which included European utility company E.ON., Foundation Capital and Voyager Capital, led the Series C funding round for AutoGrid Systems which raised $12.75 million.
Finance/Venture
Executives of New York Bitcoin startup arrested for alleged money laundering
Charlie Shrem and Robert Faiella, both executives of New York-based Bitcoin exchange business BitInstant, were arrested for money laundering in connection to the illegal drug transactions on an online black market, according to the Manhattan US attorney.
US crowdfunding site Dragon Innovation incorporates seed funding in campaigns
Massachusetts, US-based crowdfunding platform Dragon Innovation will start offering another $100,000 in seed funding to any project that can raise a minimum of $1 million in its campaign.
Tom Perkins issues apology for comparing America's rich to Jewish victims of Nazi Germany
Venture capitalist and co-founder of Kleiner Perkins Caufield Byers Tom Perkins says he regretted comparing the rich to the Jewish victims of Nazi Germany in an interview with Emily Chang of Bloomberg West TV, VentureBeat reported.
San Francisco-based FundersClub launches "Hacker News for private investors"
FundersClub, the online network that links accredited investors with promising startups globally, has launched a community news site for private investors called "Venture News," VentureBeat reported.
Latest News
TigerText, a real-time messaging provider for the enterprise, has closed its Series B round led by Shasta Ventures with $21 million. New and existing investors also participated in the financing.
Leading event technology and audiovisual firm PSAV has been acquired by private equity firms Olympus Partners and Goldman Sachs. Financial details of the deal were not provided.
Hutton Collins, a provider of preferred capital, will be investing €50 million in the form of a subordinated loan and minority equity interest in Dedalus Group, a healthcare IT systems company based in Italy.
According to a private equity official, the private equity industry in Sri Lanka is interested in backing small and mid-sized firms that have a winning business model and a plan for growth, the Lanka Business Online reported.
Singapore-listed investment holding company Yoma Strategic Holdings agreed to pick up a 30% stake in Myanmar-based consumer goods firm Asia Beverages Co in a deal valued at $11.1 million (S$14.2 million).
A ruling from a US court that banned the affiliates of the four biggest accounting firms may lead Chinese companies to seek an IPO in Hong Kong than in New York, Bloomberg reported.
PricePanda, a price comparison website, was able to get new funds from German retailer Tengelmann Group worth $3 million to expand the site to other South Asian markets, TechCrunch reported.
London-based hedge fund Hengistbury Investment Partners took a 5.2% interest in events and publishing company UBM as the latter continues its search for a new chief executive.
Despite the limitations experienced by the Bitcoin and other crypto-currencies, HP security and payments expert Slava Gomzin sees the digital currencies making its way to more brick-and-mortar stores.
