• Skycross

  Participated · Series E · May 2011

  SkyCross designs and manufactures high-performance antenna solutions for a variety of wireless devices, including mobile phones, personal entertainment and computing products. The company is led by CEO Ben Naskar and is based in Fremont, California. SkyCross received a $3.5M subordinated venture loan from NXT Capital. The company intends to use the proceeds to support its global growth efforts. SkyCross is backed by TL Ventures, Investor Growth Capital, Intel Capital, Gabriel Venture Partners and DOCOMO Capital. No operating metrics were disclosed in the article. SkyCross develops and manufactures high-performance 4G MIMO antenna and RF system solutions for smartphones, tablets, multiband USB modems, home entertainment, and computing devices. The company bundles antenna technology with RF system-level expertise and provides regional support from design centers in the United States, South Korea, China, and Taiwan. SkyCross emphasizes creative 3D design and manufacturing techniques to meet growing device requirements for multiple antennas and MIMO functionality. The company announced an $11 million first tranche of a Series E to support rapidly increasing business in Asia and the United States and to accelerate rollout of 4G/LTE in consumer electronics. DOCOMO Capital joined as a new strategic investor alongside existing backers, and proceeds are intended to fund operational milestones and expansion.

• Boston Power

  Participated · Series E · Jun 2010

  Boston-Power is an award-winning systems provider of next-generation lithium-ion battery cells, blocks, modules and systems, with flagship products Swing and Sonata serving BEV/PHEV, utility energy storage, portable power and notebook markets. Founded in 2005 and headquartered in Westborough, Massachusetts, the company has filed more than 150 patents and maintains Six Sigma-level mass manufacturing operations in Asia. Boston-Power announced $30 million in new private equity led by GSR Ventures, supplementing a September 2011 announcement of $125 million in growth capital plus Chinese government stimulus (grants, low-interest loans and related incentives). The new funding is being used to scale manufacturing, research and development, and business development activities in China. The company has broken ground on a manufacturing site in Liyang in the Shanghai Corridor, scheduled for completion by the end of 2012, with planned annual cell production capacity of 400 MWh. Boston-Power is also establishing an R&D and EV battery engineering facility in Beijing while its Westborough team continues to handle IP development, R&D, global customer support, sales and partnerships. Boston-Power is a provider of next-generation lithium-ion battery cells, modules and systems, with flagship Swing and Sonata products serving BEV/PHEV, utility energy storage and portable power markets. The company has filed more than 150 patents and operates Six Sigma-level mass manufacturing in Asia. It plans to establish a world-class R&D and EV battery engineering facility in China and build a state-of-the-art manufacturing plant capable of producing 400 MWh of cells annually by the end of 2012. The recent $125 million financing and Chinese government incentives will be used predominantly to scale manufacturing, research and development, and business development activities in China. As part of the China-focused strategy Boston-Power is reallocating global resources and transitioning a number of positions from its Westborough, Massachusetts offices while retaining IP development, R&D, global customer support, sales and partnerships in Westborough. Boston Power develops advanced lithium-ion batteries for electric vehicles, grid storage, and previously for portable consumer electronics. It has a lucrative supply deal with Hewlett-Packard and launched its first lithium-ion car battery last spring. The company is partnering with several car companies, including Saab, to hasten commercialization of automotive batteries. It operates manufacturing plants in Taiwan and is seeking expansion in China and possibly Europe; a planned Auburn, Mass. plant was scrapped after federal stimulus grants failed to materialize. Investors have provided multiple financings; the recent $60M round is the company’s fifth, bringing total capital to about $185 million. The company said the new funding will be used to grow manufacturing, sales, marketing and R&D and could more than double its workforce over the next three years. Boston Power develops advanced batteries for electric vehicles, having started with smaller applications like laptop batteries for Hewlett‑Packard. The company is adapting products for plug‑in hybrids with roughly 40‑mile ranges and for all‑electric vehicles, and has landed several unnamed EV partnerships for continued development. It plans a first U.S. manufacturing facility in Auburn, Massachusetts, that would produce up to 50 megawatts of batteries per month at peak and create up to 600 continuous jobs. Boston Power already operates several plants in Taiwan and is developing another in China. The Auburn project has secured $9 million in Massachusetts matching funds and the company has applied for upwards of $100 million in Department of Energy stimulus grants to support larger capital projects. To date the company has raised $125 million in venture funding from Foundation Asset Management, Oak Investment Partners, Venrock, GGV Capital and Gabriel Venture Partners.

• Aurora Biofuels

  Participated · Equity · Mar 2010

  Aurora Algae operates a photosynthetic, algae-based production platform using proprietary strains that leverage arid land, seawater and captured industrial CO2. The company has developed cost- and resource-efficient methods for growing, harvesting, extracting and producing algae-derived products. Its demonstration facility in Karratha, Western Australia consistently produces 12–15 metric tons of algal biomass per month from six 4,000 m2 ponds. Aurora highlights major environmental advantages: water use under one percent of comparable soy-based production and per-area yields of roughly 10× oil and 40× protein versus soy. Biomass is being positioned for nutraceuticals, pharmaceuticals, aquaculture and renewable energy/fuels markets. The company is headquartered in Hayward, California, and plans to expand to commercial scale, with a planned 2014 ground-breaking in Maitland for a 100-hectare facility capable of ~600 metric tons per month and scalable to 2,000 hectares. Aurora Algae develops biofuels and a range of biochemicals from cultivated algae. The company cultivates an omega-3–rich strain and converts processed algae into nutriceuticals, protein-rich biomass feedstock, and a petrochemical similar to palm oil used for various products. Aurora is currently running trial runs at a demonstration plant in Australia, which is expected to be complete later this year. The company plans to use its latest funding to start construction of its first facility to produce commercial-grade biochemicals. Aurora has raised $72 million to date. CEO Greg Bafalis says the company is prioritizing higher-value markets now and sees biofuels as a later focus. Aurora Biofuels manufactures fuel from genetically optimized algae in a patented production process. The company plans to use new capital to support commercialization of its advanced algae biofuel technology. The financing announced brings total capital raised to more than $40m. Aurora recently hired Scott McDonald as chief financial officer; he brings 25 years of executive management and corporate strategy experience. Management said the investment will be critical as the company expands its field operations and further optimizes its technology. The company is headquartered in Alameda, California. Aurora BioFuels is a Berkeley, Calif. company working on producing biofuel from algae. The company raised a $3.2 million first round, according to VentureWire. Investors named in the round include Noventi Sorgenia Ventures and Oak Investment Partners. The report presented this financing alongside other activity in the algae-for-biofuel space. VentureWire noted that Solazyme closed a "significant" new round and that Live Fuels was seeking about $10 million. The article did not disclose operating metrics, valuation, or specific use of proceeds.

• Chegg

  Participated · Series C · Dec 2008

  Chegg operates an online textbook rental business and a social education learning platform. Through Ghegg.com it provides course planning and selection (CourseRank), textbooks, study materials, homework help (Cramster) and notes. Students from more than 6,400 campuses nationwide can rent books online at Chegg.com and Borders.com and via an iPhone app. The company has attracted institutional investors and strategic backers. Chegg is led by President and CEO Dan Rosensweig and Senior Vice President and Co-Founder Aayush Phumbhra. Chegg rents textbooks to college students and operates a capital‑intensive textbook rental business requiring warehouses, large inventory, logistics, and shipping. Its core product is textbook rentals, supported by wholesale purchasing, warehouse management, and customer service, which the article cites as its main competitive advantages. As Chegg scales, its capital needs grow, making the business harder for competitors to replicate. The company raised a $75 million Series E from Hong Kong investment firm Ace Limited, bringing total capital raised to $219 million. Chegg had raised $57 million in its prior round in November. CEO Dan Rosensweig was scheduled to speak at Disrupt, where the company's planned use of the new capital was expected to be discussed. Chegg operates Chegg.com, a textbook rental website. The company closed a $57M Series D equity funding round to accelerate growth and enhance customer service. It plans to use the funds to further build partnerships with publishers, wholesalers and colleges. Chegg expects to double its workforce and continue expanding its customer base and the number of colleges it serves. The financing activity is accompanied by additional credit and debt facilities that bolster the company’s liquidity as it scales. Chegg operates a textbook rental service for college students: users identify needed books on the website, Chegg ships them (within eight business days), and students return them in a prepaid box at term end. The service is available nationwide across 4,000 universities. The company advertises substantial savings for students, with some reportedly saving as much as $650 per quarter in textbook fees. The model competes with campus bookstores and buyback programs by offering lower costs and convenient shipping and returns. The article notes Chegg’s growth potential, saying the service could spread rapidly as more students learn about the savings. It also flags a possible long-term threat from the shift to digital textbooks and e-readers like the Kindle. Financially, the company has just closed a Series C financing (see deal details). Chegg (also known as Chicken & Egg) operates an online, college-focused marketplace that lets students buy and sell textbooks and other school-related items for free. The service requires a university e-mail address to join, which the company uses to limit spam and target students. Chegg emphasizes a local focus as a competitive differentiator against national marketplaces like eBay, Amazon, and Half.com. The company highlights an addressable market of $11 billion in textbook and school-related revenues and aims to capture a meaningful share of that market. Company leadership has stated a target of capturing roughly 5% of the market. Chegg faces competition from large general marketplaces but positions local targeting and campus focus as strengths.

No current team members are available.