Wireless
Paymo
San Francisco online mobile payments network Paymo Inc., formerly mTN Global, has raised $5 million in seed financing. The company has created a global micro-payments system for online merchants to sell digital content and services. Paymo received the new money from angel investors in the United States and Europe; the funding will be used to accelerate product development and marketing. Founded in 2007, Paymo's technology allows online merchants to receive payments from mobile phone users, by charging the purchases of digital content to a mobile phone bill.
Ngmoco
San Francisco-based iPhone game publisher Ngmoco has raised an undisclosed amount of Series A funding. The round was led by Kleiner Perkins Caufield & Byers and joined by Maples Investments, both of Menlo Park, Calif. Additionally, Electronic Arts co-founder and KPCB Partner Bing Gordon will joined the company's board. The new funds will be used by ngmoco to create, acquire and publish games built specifically for the iPhone and for the expansion of the company's operations. In March 2008, KPCB launched the iFund, an investment vehicle dedicated to funding startups making mobile computing applications for Apple Corp.'s iPhone.
Software
I Love Rewards
Toronto-based I Love Rewards Inc. has completed a $4.7 million Series A financing. The round was led by JLA Ventures of Toronto with participation from Laurence Capital, senior management and angel investors. The corporate rewards and recognition company has developed a software-as-a-service rewards platform that allows clients to build custom web-based incentive programs. The proceeds will go towards expansion of the company and the launch of its American brand ReThink Rewards.
Internet
WeTheCitizens
Atlanta-based WeTheCitizens has raised $1.5 million in fourth round funding that gives it a total of $3 million in venture capital. Founded in 2005, the company created the Wildfire Social Mobilization Platform, an online network designed to help volunteers and/or donors to collectively self-organize in support of cause-oriented organizations. All of the new funding came from angel investors from the Atlanta business and technology communities.
Pharmaceuticals
Celator Pharmaceuticals
Celator Pharmaceuticals Inc. of Princeton, N.J., has secured $22.5 million in a Series C financing. The company is developing products based on combinations of chemotherapeutic drugs. The capital comes from insiders Domain Associates of Princeton, N.J., Ventures West and GrowthWorks Capital, both of Vancouver, Quaker BioVentures and TL Ventures, both of Philadelphia, and BDC Capital of Montreal. The proceeds will be used to fund Phase 2 studies of CPX-351 in patients with acute myeloid leukemia. The funds also allow Celator to conduct additional clinical trials and generate data that its hopes will enable strategic partnerships with other biotech and pharmaceutical companies.
Sierra Neuropharmaceuticals
Aurora, Colo.-based Sierra Neuropharmaceuticals, Inc. has closed a $21.5 million Series A financing to continue developing pharmaceuticals for direct-to-the-brain treatment of neurological diseases. The round was co-led by HealthCare Ventures of Cambridge, Mass., Morgenthaler Ventures of Boston, and Sequel Venture Partners of Boulder, Colo. Other investors include High Country Venture of Boulder and GC&H Investments LLC, an investment vehicle of lawyers with Cooley Godward Kronish LLP. Sierra uses a drug development process that incorporates implantable pumps placed surgically under the skin which deliver drugs directly to the fluid around the brain via a catheter. The approach aims to help patients suffering from severe epilepsy, depression, schizophrenia and other neurological diseases. n
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