funding

LensVector, a start-up in Mountain View, Calif., that hopes its optical components using solid-state electronics will replace moving parts in consumer camera technology, said Thursday that it's raised $30 million in a third round of funding.

Institutional Venture Partners led the funding round, joining existing investors Menlo Ventures, Samsung, Silicon Valley Bank, Mitsui, and Kodak. IVP general partner Norm Fogelsong has joined the LensVector board, the company said.

"This financing will allow us to scale our manufacturing capacity and better serve this growing demand from our customers," Chief Executive Derek Proudian said in a statement. LensVector now … Read more

Wikileaks, which has published anonymously contributed information that is both confidential and controversial, has one thing in common with many more-traditional media outlets: financial troubles.

The site has posted confidential 9/11 pager messages, tangled with banks and the Church of Scientology, revealed inner workings of the U.S. military base in Guantanamo, Cuba, and shared snippets of e-mail from vice presidential candidate Sarah Palin.

Now, though, Wikileaks has shut the site down at least temporarily.

"To concentrate on raising the funds necessary to keep us alive into 2010, we have reluctantly suspended all other operations, but will be … Read more

The Federal Communications Commission is shaking up the communications market with bold initiatives to overhaul the $7 billion Universal Service Fund to help pay for universal broadband and reallocate wireless spectrum for new wireless broadband services.

FCC Chairman Julius Genachowski presented plans for revising the USF program and reallocating spectrum during a speech on Tuesday in Washington, D.C., at The Innovation Economy Conference.

The Universal Service Fund is a $7 billion federal subsidy program that is funded by fees added to consumer phone bills. The USF was originally designed to provide subsidies to pay for phone service in rural … Read more

Wow. There is money out there: a retail deals site called Groupon has raised a whopping $30 million Series B funding round led by Accel Partners, one of Facebook's early backers. Existing Groupon investor NEA, which led the company's $4.8 million Series A round in January 2008, also contributed.

Here is the gist of Groupon: there are currently editions for 26 U.S. cities. The site advertises a deal each day from a selected local establishment like a restaurant, nail salon, or gym. There's a heavy discount involved. But enough members have to opt into the … Read more

Venture firm First Round Capital has led the Series A funding round for start-up SimpleGeo, a buzzed-about new company that has built a product for easy integration of "location" features into Web and mobile apps, according to multiple sources familiar with the deal.

Also contributing to the round, sources say, are Redpoint Ventures, Freestyle Capital, and many of the usual suspects from Silicon Valley's merry band of angel investors: among them are Ron Conway, Digg founder Kevin Rose, ex-Googler Chris Sacca, ubiquitous personality Gary Vaynerchuk, and Delicious founder Joshua Schachter. One detail we weren't able to … Read more

California regional finalists for the Cleantech Open were announced Wednesday.

Think of the Cleantech Open, which started in 2006, as a Western divisions-only March Madness for environmental techies looking for funding. Contestants initially compete against each other in three Western U.S. regions: California, Rocky Mountain, and Pacific Northwest. Since its inception, the contest has garnered more than $125 million in funding for its contestants, according to Cleantech. It's also helped companies like Cool Earth Solar, and GreenVolts get noticed.

This year the California region judges had an initial pool of 278 teams, which it narrowed down to 49 … Read more

Yes, Twitter's megacash infusion is real. CEO Evan Williams confirmed on the company blog Friday that Twitter has raised a new round of investment from Insight Venture Partners, T. Rowe Price, and existing investors Institutional Venture Partners, Spark Capital, and Benchmark Capital.

Williams says it's "a significant round." He didn't say just how close it was to the roughly $100 million that The Wall Street Journal reported Thursday. Nor did he say whether this values Twitter at $1 billion.

"It was important to us that we find investment partners who share our vision for … Read more

The European Commission has published a set of rules for when state aid should be used to roll out broadband networks, in a bid to speed up the deployment of high-speed next-generation networks in the European Union.

The guidelines (PDF), announced on Thursday, followed a public consultation. According to competition commissioner Neelie Kroes, the rules will "facilitate the widespread rollout of high-speed and very high-speed broadband networks, enhancing European competitiveness and helping to build a knowledge-based society in Europe."

"We expect to see up to ($442 billion) of investment in both high- and very high-speed European broadband … Read more

Contraception would be the cheapest and most effective way to reduce carbon emissions worldwide between 2010 and 2050, according to a study by the London School of Economics.

The report, "Fewer Emitters, Lower Emissions, Less Cost," (PDF) determined that if contraception was made widely available between 2010 and 2050 to women and men around the world who wished to use it, the reduction in unwanted births could result in saving 34 gigatonnes (one billion tonnes) of carbon emissions. That's roughly 60 years worth of U.K. emissions or 6 years worth of U.S. emissions.

The cost … Read more