August 28, 2015
It’s been interesting to scour the landscape of funding announcements and put them all into one big roundup for you guys. As I go along, it’s been impossible to not recognize certain trends, key players, and common themes amongst startups. Today is no different, and there was a surprising amount of money invested in companies working to cure and treat cancer.
Not to mention Motorola Mobility is working to acquire Lenovo, which is pretty huge. It’s been a wild week, stay tuned for more funding-goodness next week. Also, if you want the roundup delivered directly to your inbox, sign up here!
MimiVax Brings in $1.55 Million
We all heard about the supposed cancer vaccine that came out of Cuba not too long ago, and now there’s another company wading into the waters. MimiVax is based in Buffalo, New York, and they’ve raised $1.55 million in funding from Buffalo Capital Partners. It’s a nice addition to their previously secured $2 million in government grants and will absolutely go a long way towards helping in the fight against cancer.
Merus Gets $80.5 Million
Merus is currently 12 years old and based out of the Netherlands. However, their cancer therapy methods have brought in about $80.5 million US (€72.8 million) in a recent Series C round. The funds came primarly from Sofinnova Ventures and Novo Ventures with participation from Johnson & Johnson, Pfizer Venture Investments, and Aglaia Oncology Fund.
XL Hybrids has made it their mission since starting up to provide hybrid electric powertrain for commercial fleet vehicles. It might not sound like the sexiest idea ever, but they’ve been proven to reduce fuel consumption by a reported 20 percent. They were happy to announce a $10.5 million Series C round led by former Morgan Stanley executive Peter O’Brien. Venture Capital Dispatch.
MagicCube Raises $2.2 Million
MagicCube announced today that they raised a $2.2 million seed round of funding from Azure Capital, Epic Ventures, Bialla Venture Partners, and private investors. MagicCube’s software-only technology secures digital transactions on any mobile device, independent of its hardware or operating system, and stops digital transaction fraud where most vulnerabilities can be found today: at the endpoint.
Cross Valley Capital Builds a $20 Million Fund
Cross Valley Capital successfully raised a $20 million seed fund which it will invest in early stage startups focused on digital health, travel, or logistics.
Motorola Mobility to Absorb Lenovo
Motorola Mobility is officially making big moves to absorb the mobile unit of Lenovo. It’s kind of confusing though, because Lenovo actually acquired Motorola Mobility from Google in 2014, but Lenovo CEO and chairman Yang Yuanqing says that this will help them restructure their Mobile Business Group to drive growth. The only potential downside is that Lenovo will most likely be laying off about 10 percent of its nonmanufacturing workfoce worldwide.
Image Credit: Wikimedia Commons
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