Saturday, 11 June 2011

Weekly Report(4th-10th June 2011)

After Facebook's OpenCompute project it is now Joulex, a startup working on enterprise energy management systems for data centers and distributed office environments. It snapped $17 million for the mission.
Avantium, the company that develops and commercializes YXY, its own invented chemical building blocks for making green materials and fuels raised 30 million EUR. Funds will be used for building a pilot plant to demonstrate its YXY technology. The pilot plant will also be able to produce larger volumes of YXY building blocks for application development of new, green plastics, chemicals and materials.
Birch Communications, provider of IP-based telecommunications and managed services to SMBs secured $77.5 million funding. received an investments of $200 million. Incorporated enables digital coupon programs – including online printable, Save to Card and mobile promotions. We can expect more shift of coupons from newspapers to digital world.
GrabCAD, place to connect manufacturing and product development companies with CAD engineers, snapped $1.1 million funding. The funds will be used for hiring and strengthening the team.
buuteeq, the Digital Marketing System (DMS) for hotels, grabbed $3.5M in series A round. With buuteeq's subscription-based service, hotels can easily create and manage high-performing web, mobile and Facebook sites, promotions and reservations, all from one place; eliminating the need for custom hotel website design.
eWise, provider of payments and online financial management solutions, raised $14 million. Funds will be utilised in expansion of its technology Secure Vault Payments.

Visa, a leader in payments is acquiring Fundamo, which has its platform for financial services for mobile network operators and financial institutions in developing economies. Visa seems to be expanding its horizons greatly. It has also signed an agreement with Monitise, a provider of mobile money solutions.
Facebook acquired Sofa(, a company started in 2006 that makes useful and enjoyable products. Sofa's products- Kaleidoscope and Versions do not form a part of this acquisition.
Virsto, company that is transforming storage for virtual machines acquired EvoStor, a specialist in storage virtualization technology for VMware environments. Visto also received a funding of $12 million in series B funding round.

METISMO provides a platform to develop cross platform mobile apps. Once created it can automatically transform your application into various mobile device formats. Various data-types like audio, video etc from your mobile can be easily integrated. The way this platform works is- you write your application in java and it converts your java code into mobile device specific code.
It got acquired by Software AG. Software AG products include Adabas - where you can store any amount of data and it is the first high performance transactional database; ARIS Platform- the first business process analysis platform; webMethods - SOA based integration platform; NaturalONE- an eclipse based IDE to develop and manage your applications.

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