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Networking Meraki Meraki Networks Inc. has raised a $20 million Series B round that it says will enable it to deploy a free city-wide wireless broadband Internet access network in San Francisco. Investors in the new financing include the returning Sequoia Capital of Menlo Park, Calif., DAG Ventures of Palo Alto, Calif., Northgate Capital of Danville, Calif. and other investors. Meraki plans to deploy its network by the end of 2008; and has already launched it in select neighborhoods where its serves more than 40,000 users already. The company's technology creates a wireless network by combining signals from hundreds or thousands of solar-powered radio repeaters installed on rooftops, balconies and windows, that extend WiFi access to city residents in their homes and businesses. Meraki will fund the entire cost for establishing the free network across the city, using no public funds as part of an effort to showcase its technology to drum up business from other cities around the world. Its expects to use only a figure in the "low millions" to deploy in San Francisco. Telecom software Pudding Media Pudding Media Inc. of San Jose, Calif., has secured $8 million in Series A funding. Opus Capital of Menlo Park, Calif. and BRM Capital of Israel led the round, which it will us to expand the company's product line of advertising technology for monetization of all forms of voice services including mobile carriers, VoIP operators and Web voice applications. The Pudding Media platform delivers targeted advertising to voice services, which allow telecoms to transition to ad-supported calling plans. Financial services Merlin Securities Brokerage services provider Merlin Securities has received a $20 million investment from Sequoia Capital of Menlo Park, Calif. The company plans to use the capital to expand its presence in the market for hedge-fund management tools, while its also takes advantage of Sequoia's contacts and expertise. Merlin develops reporting and trading technology, as well as operational services to the hedge fund industry, fund-of-funds and long-only managers. Medical devices Follica Boston medical device company Follica Inc. has secured a $5.5 million Series A financing led by Interwest Partners of Menlo Park, Calif., with participation from the returning PureTech Ventures of Boston. Follica is developing a novel therapy for androgenetic alopecia (male and female pattern hair loss) and other hair follicle disorders. The funding is expected to take the company through a clinical proof of concept study. Chris Ehrlich, a partner at Interwest Ventures, will join the company's board. Venture funds Montreux Menlo Park, Calif.-based Montreux Equity Partners LLC closed its fourth fund with $250 million, exceeding its $200 million target. Montreux Equity Partners IV LP will focus on therapeutic-oriented life sciences companies in the medical device and pharmaceutical sectors. Recent exits for the firm include the sale of Peninsula Pharmaceuticals and the initial public offering of Orexigen Therapeutics.  Deal Video
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