Friday, April 27, 2007

Arcadian's $90mm Series A

  • "Smart grid" M2M wireless network developer Arcadian Networks announced the closing of the last tranche of their $90mm Series A round with an additional $30mm from Goldman Sachs. Other participants in the full round included Gilo Ventures and Clal Industries and Investments. For those with VentureWire subs, Jon Shieber had a nice write-up about the deal today, where he points out that Goldman Sachs has been doing a lot of smart grid investing lately.
  • In other news today, Michigan's non-profit group NextEnergy announced a mutual sourcing and support relationship with Nth Power. As part of the agreement, each group is pledging to send dealflow to each other, and NextEnergy will be helping any Michigan-based Nth Power portfolio companies to access in-state financial resources and business relationships. It's an interesting announcement, and shows one investment firm's answer to the challenges of coastal VCs interacting with more geographically-distributed clean technology startups. There are good clean technology solutions to be found all over...


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