Author: Erin Kutz

  • Informal Incubators: Startup Workspaces Sprouting Up in Unlikely Places (Including an Expelled MIT Frat House)

    The Xconomy Venture Incubator Directory
    Erin Kutz wrote:

    When Mahmoud Arram looked around last spring to move his web startup Sponty from his apartment to a real, live office space (to better accommodate the interns he needed to hire), he sought three things: a door that closed, lots of whiteboard space, and “access to really smart people.”

    “It’s good to be able to bounce ideas off of very smart business people and engineers,” he says.

    His hunt led Arram to some extra room that e-commerce company Allurent (his part-time employer) was renting out one floor below its main headquarters until it needed the room itself. And, as it happened, a handful of other startups were already working out of the Allurent space—on the third floor of the American Twine Building near Kendall Square in Cambridge, MA—generating the brainpower and buzz that he wanted. Arram not only got that enclosed office, it included almost an entire wall of whiteboard.

    We know what you’re thinking—that there’s already a home at Allurent for new startups: Polaris Venture Partners’ Dogpatch Labs incubator. But that’s a formal program operated by a major venture firm, not what we’re talking about here. The space Sponty and the others work out of didn’t directly advertise itself as an entrepreneurs’ co-working environment, but that’s certainly what it seems to have become.

    “It was definitely more serendipity than master plan, but I think the space and Allurent’s culture are very startup-friendly,” says Allurent co-founder (and Xconomist) Joe Chung. The real estate also contains the small conference rooms and big open space occupied by many desks that are characteristic of more traditional and intentional startup co-working environments.

    It’s no secret that the greater Boston-area boasts a culture and infrastructure hospitable to a thriving startup economy. There are a multitude of venture capital firms with entrepreneur-in-residence programs, startup incubators (a la Dogpatch or TechStars), co-working spaces, and startup competitions—from the MIT 100K Business Plan Competition to the Harvard Business School Alumni New Venture Contest—too numerous to count (actually, we have counted them—see our X Lists). But while these different institutions or programs have set out with the intention of supporting entrepreneurs, we’ve also observed a more organic growth of startup-focused communities and groupings (like Allurent’s third floor) that …Next Page »







  • All Eyes On Ironwood IPO, Icahn Seeks Biogen Board Seats, Boston Scientific Settles with J&J, & More Boston-Area Life Sciences News

    Erin Kutz wrote:

    So there was good news and bad news for the New England life sciences community in the past week, but industry watchers this week are all waiting to see how the Ironwood IPO story plays out.

    Billionaire investor Carl Icahn and his associates notified Cambridge, MA-based Biogen Idec (NASDAQ:BIIB) of their plans to nominate three additional people for Biogen’s board of directors. The move comes as Biogen searches for a replacement for CEO James Mullen, who last month announced his plans to retire in June. Icahn, who controls about 5.6 percent of Biogen shares and already has two representatives on the Biogen board, could gain even greater influence at the company if his picks fill three of the four open board slots.

    —Flexion Therapeutics, a Woburn, MA-based company whose mission is to run early stage clinical trials more quickly and cheaply than big pharma companies do, inked new deals with four major drugmakers. A $9 million venture investment from Pfizer pushes Flexion’s Series A total to $42 million. The startup, founded by two Eli Lilly veterans, also announced partnerships with AstraZeneca, Germany-based Merck KGaA, and one other unnamed drugmaker.

    —BG Medicine, a Waltham, MA-based developer of molecular diagnostics, revealed plans for an initial public offering worth as much as $86.3 million in a regulatory filing. The company, which bagged an $80 million IPO plan two years ago, is also seeking FDA approval of its Galetin-3 diagnostic product, which aims to predict a patient’s risk of heart failure.

    —Speaking off IPOs, Cambridge-based Ironwood Pharmaceuticals is positioning itself this week to pull off one of biotechnology’s biggest in recent years. The company, whose lead drug candidate is in the final stages of clinical testing, has forecasted that 16.7 million shares of common stock will go for $14 to $16 a share. If it successfully attracts Wall Street investors, the offering could reinvigorate venture investors and entrepreneurs who have remained wary of the costs and risks associated with drug development, predicted industry market watchers who spoke with Luke.

    —Boston Scientific (NYSE: BSX), the Natick, MA medical device giant, announced it would pay $1.725 billion to settle three patent-infringement lawsuits with Johnson & Johnson; the suits were related to several of Boston Scientific’s stent products. Boston Scientific agreed to pay Johnson & Johnson $1 billion now and the remainder of the settlement within the next 11 months, a move that would allow it to avoid the risks of jury trials.

    —Westford, MA-based BioBehavioral Diagnostics raised $10 million in a Series B round led by Sevin Rosen Funds and Tullis Dickerson. The maker of an attention-deficit hyperactivity disorder diagnostic test will put the cash toward sales, marketing, and clinical work for its system.

    —Ryan reflected on an Xconomy-hosted dinner that addressed the challenges and perks of virtual business models in biotech. He highlighted insights from Duane Roth, CEO of La Jolla, CA-based industry group CONNECT, who sung the praises of contracting out research and development.

    –Ryan took a look at how NxStage Medical (NASDAQ:NXTM), a maker of portable dialysis systems for patients with kidney disease, has regained its stride after hitting a rough patch early last year. The Lawrence, MA-based company is benefitting from a financing and partnership deal with Japanese medical supplies firm Asahi Kasei Kuraray Medical, and has reported increased revenue for the first nine months of 2009 compared to the year before.







  • BlueKai Pulls in $21M Series C Round to Enable Targeted Web Ads

    Erin Kutz wrote:

    BlueKai, a Bellevue, WA-based Internet data exchange company that connects companies with information on the behavior of their customers, has wrapped up a $21 million Series C funding round, the company announced today.

    New investor GGV Capital (formerly Granite Global Ventures) led the round, which also included previous BlueKai investors Battery Ventures and Redpoint Ventures. BlueKai has continued to pick up customers and revenue since its Series B round in December 2008. The newest equity investment will go toward the company’s effort to transform how companies use customer data to tailor their ad campaigns, says CEO Omar Tawakol.

    BlueKai enables websites to sell data on consumer demographics or buying behavior to companies that wish to use the information to target their advertising more directly and efficiently. The example Tawakol gives is that airlines looking to market to travelers for a specific destination can use BlueKai to buy data from travel websites on the user traffic surrounding that destination. BlueKai’s data providers include retail, auto, travel, and finance companies, while the data buyers account for 70 percent of the top 30 Internet ad networks and portals, according to its website.

    Companies that buy data from BlueKai currently have to buy into a specific data campaign to access the customer information, and build their advertising strategy around it. To expand, BlueKai is looking to automate companies’ connection to data on the BlueKai marketplace, making the creation of banner ads on websites as immediate and targeted to the relevant consumer as the ads that appear on search engine results pages are.

    “It’s almost that the banner ecosystem wants to become automated to the same degree that the search engine marketplace is automated,” Tawakol says. “And we’re going to make sure that the data component of that becomes automated.”

    BlueKai has now raised about $35 million in venture capital dating back to March 2008. Battery Ventures led a $10.5 million Series B round for BlueKai in December 2008, which also included cash from Redpoint, while Redpoint led a $3.2 million Series A round that closed in March of that year.







  • Prism’s Will Kohler to Join Summerhill Venture Partners, Doubling Firm’s Boston Headcount

    Erin Kutz wrote:

    Prism VentureWorks principal Will Kohler will join Summerhill Venture Partners as a general partner later this month, doubling the Toronto-headquartered firm’s Boston-area headcount as part of an effort to expand its investments in the Northeast, according to Summerhill managing partner Gary Rubinoff.

    “We’re doing a lot of deals in the Northeast it makes sense to get another person on the ground there,” said Rubinoff, who works in Boston a couple days a week. Kohler will be joining full-time venture partner George Cooney in Boston. Rubinoff said the addition of Kohler splits the firm’s investment staff more evenly between the two offices.

    Kohler’s last day at Needham, MA-based Prism will be Tuesday. He confirmed his move but declined to comment further on it while still at Prism, a firm that invests in digital media, life sciences, and software services companies. Kohler joined Prism in 2003, according to the website.

    Summerhill, which manages $175 million in capital, began its quest for a new Boston staffer the summer. Kohler had already been serving alongside Rubinoff on the board of Needham-based Sonian, an e-mail archiving company that both Prism and Summerhill invest in. Hiring Kohler for Summerhill’s Boston office “was just a great fit for us and for him,” Rubinoff said.

    In addition to Sonian, Summerhill’s Bay State investments include Chelmsford-based Arbor Networks, a security and network management company, and Jumptap, a Cambridge-based mobile search company. The firm also has investments in companies based in New York, Texas, and the Washington, DC, area. Rubinoff said the company plans to seek new investments in the Northeast.








  • Polatis Raises $1.2M

    Erin Kutz wrote:

    Andover, MA-based Polatis, a producer of optical switch technology for data centers and network hosting locations, has raised $1.2 million of a $2.5 million equity round, according to a filing with the SEC. The filing does not specifically name investors, but partners at Cambridge, MA-based Flagship Ventures and Chicago-based JK&B Capital are among those listed as Polatis directors on it.







  • Announcing Boston Battle of the Tech Bands Door Prizes: Reasons (Other than Regional Pride) to Attend Xconomy’s Bicoastal Showdown

    Battle of the Tech Bands 3 - Seattle vs. Boston
    Erin Kutz wrote:

    For the past two years, Xconomy has invited bands from Boston area companies to submit their music files to a select panel of judges to compete for the right to take the stage at our Battle of the Tech Bands, but this year we’ve added a twist. Rather than go through the selection process, we’ve invited two bands from the Seattle version of the competition to face off against standout contestants from past Boston battles. So what happens when Beantown bands defend their hometown honor against Northwest intruders, over guitars, drums, and a meeting of the area’s tech minds? We’re not quite sure ourselves, but we’ll find out on February 4th.

    But there are reasons to attend the East vs. West showdown other than figuring out once and for all which coast is superior. We’re giving away a slew of door prizes for you video game addicts, neat freaks, and everyone in between. We’ll have three Rock Band video game bundles, two boxed copies of Turbine’s Lord of the Rings Online game, and Xbox 360 games and accessories. Don’t worry, for you practical people out there we have two $300 gift certificates to H&R Block (just in time for tax season!). Also, two of the famed Roomba automated vacuum cleaners from Bedford, MA’s iRobot.

    We also have a few door prizes that might attract the entertainment-minded, including a duo of tickets for a concert at our Battle venue, the Middle East, as well as an overnight stay for two at Le Meridien hotel. Rialto was also kind enough to donate a $200 gift certificate for dinner for two (or one-and-a-half depending on what you order!).

    In case your main reason for attending is the music, here’s some info on the evening’s performers. From Seattle, Lions Ambition will be representing Boeing and heavy metal band Juda’s Wake will strut Microsoft’s stuff. Taking the home field advantage, there’s The Dirty Truckers, who nabbed the Audience Favorite prize in last year’s Battle of the Tech Bands. They’re representing American Well and formerly representing Sophos. Deadbeat Darling, a pop electronica band of Pictela and formerly of Akamai, won in the audience category at the inaugural Boston Battle and will be returning this year. Another Boston alum will be there too: McAlister Drive, an indie pop band formerly representing Linedata Services. They won the Most Innovative Band prize at the first Battle after lead vocalist Christoph Krey jumped off the stage to do a river dance resembling those that Red Sox pitcher Jonathan Papelbon has been known to perform.

    The bands will be competing for some great prizes as well, such as seven hours of studio time including engineering and production in Bristol Studios. Another prize is one year of Nimbit retail service, which includes storefronts for Facebook, MySpace & Official Website; Nimbit Fan Marketing tools; 500 download cards, 100 posters; and more. And three hours of digital media/strategy consulting from Ten Minute Media, which has designed websites for the Mick Jagger, Lenny Kravitz, Van Morrison, and others.

    We’ve asked the bands to dish to us why they’re each poised to win it all, and their answers reflect the chasm of cultural differences between the East and West coasts. Lions Ambitions, a Seattle band that describes its sound as a fusion of hip hop and rock, declined when probed for trash talk, staying true to the Pacific Northwest’s laidback stereotype. “I guess it’s not really our style, we’ll let our performance speak for itself and let the people decide,” Lions manager and member Frankie Yaptinchay said via e-mail.

    Boston country-rock-soul band The Dirty Truckers took a somewhat different approach. Truckers guitarist/vocalist Tom Baker, with the characteristic display of Boston pomp, pride, and (dare I say?) nerdiness, writes this: “The Dirty Truckers will win this event because we can write ISO 9001 quality code, on top of Breed’s Hill in a raging snowstorm—-in SCALA! Can your other bands do that? All they are left with are Crosscutting Concerns.”

    Exactly. Stay tuned for more mouthing off (hopefully) from the other bands and announcements of any additional door prizes that local benefactors feel inspired to send our way. Buy your tickets now for $25, or at the door the night of for $35. The night’s net proceeds will go to the Science Club for Girls and Year Up Boston.







  • Landslide Gets $8M and New CEO

    Erin Kutz wrote:

    Landslide Technologies, a customer relationship management software company with offices in Burlington, MA, and Pittsburgh, PA, announced today that it has raised $8 million in growth capital and hired a new president and CEO, Rick Faulk, the former CEO of web-based social media and training software company Mzinga. Faulk left Burlington-based Mzinga last March, just as the weak economy forced the company to cut its workforce by 18 percent, leaving it with 170 employees. Faulk will also serve on the board of directors at Landslide, whose financing round was led by Adams Capital Management, headquartered in Pittsburgh.







  • Under the Radar Deals: 11 Northwest Startup Financings from December Worth $1M or Less

    Radar
    Erin Kutz wrote:

    As you may have noticed, we here at Xconomy look at startups’ financing as signs of what companies or industries are making a big impact on innovation in the region. Just last week we reported on the major equity investments in Northwest startups in December, tracked by our partner ChubbyBrain, a New York-based information services company tracking VC, angel, and other investments in private companies.

    But there’s another subset of startup financings that didn’t make it into that list and are often too small to show up in the breaking news stories on venture funding we typically cover. They’re the under-the-radar deals, which range from $100,000 to $1 million and can include both equity and debt forms of funding.

    In December, the Northwest pulled in 11 of these smaller deals, with six that included equity financing and five based in debt. All but one deal went to companies based in Washington, the exception being the $310,000 in debt financing raised by Portland, OR-based CafeGive, a shopping website that allows nonprofits to reap a percentage of online purchases.

    While you most likely won’t see us reporting these types of deals right as companies announce them or file with the SEC, we look at the money as valuable sources of insight. Often they signal which new companies are gaining ground, or which industries and sectors angel investors are particularly fond of putting their cash into.

    Here’s an example. ChubbyBrain noted the $1 million that Visible Technologies took home in debt-related funding in December, but that was only the beginning. The Bellevue, WA-based company, whose software aims to help companies track social media conversations about their brands, announced in January that they had raised a total of $22 million in Series C funding, a move we covered earlier this month.

    As another signal of momentum, one company looks like it has raised more than originally expected. Billing software provider Nirvaha raised $225,000 of a $500,000 equity round, as tracked by ChubbyBrain. But the Seattle company amended its SEC filing earlier this month to show it had raised $570,000 and is targeting $650,000.

    Some of the companies on the under-the-radar list are very familiar to us. ChubbyBrain tracked $600,000 that Seattle-based Zulily raised as part of a $4.6 million Series A round, which we reported when the online retailer announced it in December. (The company has officially launched its private-sale site today.)

    Last March, we wrote about Bellevue, WA-based Blade Games World when it pulled in $4 million in a first round of venture funding. The electronic games animation company raised another $500,000 in debt financing in December.

    Healthcare-IT companies took home a good chunk of the December startup deals in the Northwest. They include an online social media site for doctors, iMedExchange, as well as a medical practice data tracker, Clario Medical Imaging, and electronic medical records company Design Clinicals. Other Internet companies, including a few shopping websites, were also prominent on the list.

    See the table below for the full breakdown of under-the-radar debt and equity financing in the Northwest in December:

    Visible Technologies Bellevue, WA Makers of an RSS feed-based application to help companies monitor social media conversations about their brand Debt $1,000,000
    Evo Landing Seattle, WA Providers of an online publishing platform for niche websites Equity $681,452
    Clario Medical Seattle, WA Makes of software that helps medical practices track performance, results, and peer review data Debt $614,582
    Zulily Seattle, WA Member-based online store with discounted products for moms and kids Equity $599,999
    Blade Games World Bellevue, WA Modeling, design, and animation firm serving interactive electronic game companies. Debt

    $500,000

    Design Clinicals Seattle, WA Healthcare IT company with software for electronic medical records and communication between doctors, nurses, and pharmacists. Equity $432,299
    CafeGive Portland, OR Website enabling portions of online purchases to go to user-selected charities Debt $310,000
    NexTune Redmond, WA Commercial music service with remote playlist creation and scheduling for businesses Debt $250,000
    Nirvaha Seattle, WA Creators of quote and billing software for sales and finance departments Equity $225,000
    Marketsync Kirkland, WA Developers of software to streamline salesforces’ communication with customers Equity $216,100
    iMedExchange Seattle, WA Social media website for doctors Equity $124,000








  • Under the Radar Deals: 20-Something New England December Financings Worth $1M or Less

    Radar
    Erin Kutz wrote:

    We recently summarized the major December equity investments in Massachusetts’ tech and life sciences startups, but the New England region also had some more pint-sized deals worth noting. They’re between $100,000 and $1 million—what we like to call the under-the radar-deals tracked by our partner, New York-based ChubbyBrain, an information services company developing tools for investors, startups, and hopeful entrepreneurs.

    While these financings—some based in equity and others in debt—are small enough that we don’t typically cover them in our breaking news briefs or deals roundups, we’ve often looked at them as signs of what’s to come in industry investing, or bellwethers of which stealthy companies are on the rise. The December under-the-radar list brings us companies working on innovative solutions in spaces as diverse as glucose monitoring for diabetics, open-heart surgery alternatives, local advertising for newspapers, ADHD diagnostics, private air travel booking, your golf game, and beer brewing.

    A total of 21 such deals went down in the region last month, with 12 in equity-based funding and nine in debt-related financing. Massachusetts wrapped up the vast majority, with 13 of these smaller deals. Connecticut and New Hampshire each had a trio of December financings, while Rhode Island and Maine each took one home.

    Life sciences companies, particularly in the medical device realm, were prominent on the under-the-radar list, with technologies addressing a myriad of physical and mental ailments, from ADHD to cellulite to respiratory disease. One of the medical devices investments went to Myomo, a Boston-based company we reported on last April after it had slashed staff by 66 percent—from 12 to four full-time employees–and scaled back operations to a more virtual environment.

    The company was slowed by sluggish sales of its robotic elbow brace, designed to help stroke victims recover movement of partially paralyzed limbs. Myomo looks like it has regained some of its footing, though, judging by a December equity investment of $616,765 that VP of communications Matt Burke says comes from a range of private investors as part of a Series C round. An SEC filing reveals the total venture round to be targeting $1 million.

    A good chunk of the region’s under-the-radar financings went to …Next Page »







  • VideoIQ Raises $6M

    Erin Kutz wrote:

    Bedford, MA-based VideoIQ, which creates surveillance cameras designed to streamline the capture of suspicious activity, closed a $6 million equity round, according to an SEC filing. Atlas Venture and Matrix Partners, both of Waltham, MA, are listed on the filing as investors, alongside Lehman Brothers Venture Partners. VideoIQ, profiled by Xconomy in 2008, aims to filter relevant activity captured by cameras and eliminate information overload.







  • $12M for Unidesk

    Erin Kutz wrote:

    Marlborough, MA-based Unidesk, a stealth-mode company that provides virtual desktop management solutions, has raised $12 million in new equity financing, according to an SEC filing. North Bridge Venture Partners and Matrix Partners, both of Waltham, MA, are listed as company investors on Unidesk’s website. Unidesk was founded in 2007.







  • Thinking Phone Calls in $1.2M

    Erin Kutz wrote:

    Cambridge, MA-based Thinking Phone Networks, a developer of hosted customer communication and relationship management platforms, has raised $1.17 million of a $1.67 million round of equity mixed with options and warrants, an SEC filing shows. President and CEO Steven Kokinos told Mass High Tech that the funding comes from Capstone Partners, a Boston investment bank, and that it will go to expanding the company’s sales department.







  • Bluesocket Wraps Up $8M

    Erin Kutz wrote:

    Bluesocket, a Burlington, MA-based developer of mobile access and security products, has raised $8 million in equity-based financing, according to an SEC filing. The company, whose products include a virtual wireless LAN technology, declined to provide further details on the equity round.  Bluesocket’s Bay State investors include Vesbridge Partners,  Ascent Venture Partners,  Ironside Ventures, and Osborn Capital, according to company’s website.







  • SmartEquip Raises $18M

    Erin Kutz wrote:

    SmartEquip, a Norwalk, CT-based provider of software solutions in parts, service, and product support for the construction equipment industry, has raised $18 million of a $20.5 million round of equity and security, according to an SEC filing. This comes after a $1.5 million Series C round SmartEquip raised in 2002, with Connecticut Innovations and Next Generation Ventures among the investors, according to Dow Jones VentureWire.







  • Lumigent Closes $3M from North Bridge

    Erin Kutz wrote:

    Lumigent Technologies, an Acton, MA-based company that produces automated governance, risk and compliance software, announced that it has closed $3 million in funding from Waltham, MA-based North Bridge Venture Partners. The new Lumigent funding comes on top of a $6 million Series A funding round from North Bridge, secured in January 2009, a company spokeswoman said.







  • HLM Venture Partners Closes $65M Round for Third Fund

    Erin Kutz wrote:

    Boston-based HLM Venture Partners has closed a $65 million first fundraising round for its third fund, Dow Jones VentureWire reported today. The firm, which focuses on investments in medical-device firms and healthcare information technology and services, hopes to raise a total of $200 million for its HLM Venture Partners III LP fund. The first round, closed late last year, came from some of the firm’s existing limited partners, HLM partner Edward Cahill told VentureWire.







  • Venture Investors Spread Holiday Cheer to Mass. Startups in December: Companies Wrap Up $224 Million in Funding

    Erin Kutz wrote:

    Santa was good to the Massachusetts high-tech economy in December. Very good. Roughly $224 million poured into the state’s startups in 36 equity deals, representing 20 percent more money and more than 50 percent more deals than Bay State startup companies saw in November.

    And November venture funding-22 deals worth $186 million-was nothing to scoff at. It’s now the fourth-highest dollars and deals totals since Xconomy started tracking monthly venture figures in June, with data supplied by our New York-based partner ChubbyBrain, an information services company with tools for investors, startups, and hopeful entrepreneurs.

    The money Massachusetts startups raked in during December-the second-highest dollar total and highest number of deals tracked by Xconomy so far-suggests that the growth regained in November after a brief fall slump is continuing. Venture funding in October had shrunk to $169 million across 19 deals, compared to September’s $228 million in 25 deals, currently the best month in dollar terms to date.

    Venture deals were a bit more egalitarian in December than they were in the previous month. The top five November deals were worth $21 million or more, the highest one ringing in at $31.3 million. The sixth-biggest round, however, dropped sharply to $6.7 million. December deals didn’t display the same staggering gaps in dollar values, though. The biggest disparity was the $4 million difference between No. 1 Afferent Pharmaceuticals and runner up Pixtronix. The deals that followed all trailed each other’s heels much more closely.

    The top deals in December were also more diverse in the sectors they represent when compared to the month before. Five out of the top six November deals were in healthcare (a software company captured the month’s No. 1 slot). In December, by contrast, the top six included companies from healthcare, software, electronics, Internet, and mobile and telecommunications.


    Massachusetts December Venture Capital Deals

    The aforementioned Afferent, a Boston-based company working on developing treatments to chronic pain, topped our December list with $23 million in Series A funding. Mobile display maker Pixtronix, based out of Andover, MA, came in second with …Next Page »







  • Gryphon Networks Adds $7 Million

    Erin Kutz wrote:

    Gryphon Networks, a Norwood, MA, telecommunications and marketing services company, raised $7 million in a Series C venture funding round, according to an SEC filing. The funds come from Waltham, MA-based Symmetric Capital and include a combination of cash and stock from Gryphon’s Series A and Series B rounds, says Gryphon CFO Eric Bornhofft. The company did not disclose what portion of the $7 million was cash. The company uses the Software as a Service model to deliver contact governance, compliance and contact management solutions.







  • A123 to Invest $23M in Fisker and Supply Batteries for Company’s Hybrid Car

    Erin Kutz wrote:

    A123Systems, a Watertown, MA-based battery maker, announced today it will invest up to $23 million in Irvine, CA startup Fisker Automotive, in addition to supplying the batteries for the company’s luxury hybrid car, due to launch in late 2010. Fisker’s Karma Plug-in Hybrid Electric Vehicle (PHEV) has a range of 50 full-electric miles on a single charge of A123’s lithium-ion battery, and a total range of 300 miles with an on-board generator powered by a fuel-efficient gasoline engine, according to A123’s announcement. A123’s investment in Fisker includes $13 million in cash and $10 million in A123 common stock, as part of a strategic partnership under which A123 will also supply batteries for another Fisker hybrid, Project Nina, set to launch in 2012.







  • Bringing Order to the Address Book, Sensobi Targets Underserved Blackberry Mobile App Customers

    Sensobi Team
    Erin Kutz wrote:

    You’ve been scrolling through your phone’s address book for minutes now just to find the coworker you call the most. Because his name falls at the end of the alphabet, he’s buried behind dozens of other entries, many of whom you probably haven’t called in years. Shouldn’t a smart phone be smarter about managing your contacts?

    Enter Sensobi, a BlackBerry application that organizes your address book by analyzing who you talk to most and alerting you to the people you’re ignoring. Developed by a Cambridge-based startup of the same name—derived from a Zen term signifying simplicity and harmony—Sensobi tracks how many times users have called, texted, or e-mailed a person and assigns varying points to the different forms of communication. Lengthier phone calls score more points than brief chats, too.

    “We realized your phone knows more about you than anything else does,” says CEO Ajay Kulkarni, 30, referring to his and co-founder Andy Cheung’s inspiration for using a mobile phone to reconstruct and understand personal and professional relationships.

    The people with the most points appear at the top of the Sensobi address book, regardless of alphabetical order. Sensobi links content from text messages and e-mails to contacts’ names, so never again will you be left dumb when your boss asks you on the phone if you’ve seen his most recent message to you. “It helps you save face and facilitates a much richer conversation,” says Kulkarni, a 2008 graduate of MIT’s Sloan School of Management.

    It all started when Kulkarni wanted to find a way to make sense of the different business cards and phone numbers he had collected from classes, conferences, and past jobs, which included a stint as a bond analyst at Citigroup and positions at other startup companies. In December 2008, he teamed up with high school friend Cheung, 29, who had been laid off from his job as a developer at Right Media following Yahoo’s acquisition of the online advertising company.

    Sensobi's blackberry appThey opted to design their application for RIM’s BlackBerry—the phone Kulkarni says “doesn’t get as much love” from developers as its younger, flashier counterparts. There’s truth to his statement. In November, Apple announced that the iTunes App Store had passed the 100,000-app mark. By contrast, the fledgling BlackBerry App World—launched in April—has just 3,000 offerings.

    But Sensobi’s creators saw an opportunity in BlackBerry’s loyal and business-oriented consumer base, a group they’ve targeted through Twitter and tech blogs. “They’re starving for apps,” says Kulkarni. And Sensobi, officially incorporated in January 2009, has helped feed …Next Page »