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Energy SpectraWatt Intel Corp. has spun off its solar energy technology unit into an independent company, SpectraWatt Inc. to manufacture and supply photovoltaic cells to solar module makers. Intel Capital invested $50 million in the startup. Cogentrix Energy LLC, a subsidiary of Goldman, Sachs & Co., PCG Clean Energy and Technology Fund of La Jolla, Calif., and Europe's Solon AG were co-investors. -- Suzanne Stevens Semiconductors Solarflare Solarflare Communications Inc. of Irvine, Calif., raised $18 million from previous investors Oak Investment Partners and Accel Partners of Palo Alto, Calif., Foundation Capital of Menlo Park, Calif., and Amadeus Capital Partners of London to bring total investment to $126 million for development and marketing of high- speed connectivity chips to power the next-generation of Ethernet standard servers and switches. The additional capital will support sampling of a second-generation 10 Gigabit transceiver chips to power line cards and switches and to continue product development. -- Clifford Carlsen Internet-New Media ImageSpan ImageSpan Inc., which provides enabling infrastructure for digital content licensing, has closed an $11 million second round led by Germany's Bertelsmann Digital Media Investments. Existing investors Greycroft Partners and Village Ventures, both of New York, also participated, as did newcomers New York City Investment Fund, City Light Capital Management of Greenwich, Conn., and Ackerley Partners LLC of Seattle. The round will enable ImageSpan to launch partnerships and roll out its platform with major customers. ImageSpan has built a platform for licensing digital photographs, illustrations and video content designed specifically to deal with Web 2.0 mashups and projects with multiple copyright holders. The platform streamlines the licensing process for digital source material and then defines rights to new content, tracks usage and ensures accurate royalty reporting and payments. Software Verticals onDemand Verticals onDemand of Pleasanton, Calif., has secured $4 million in funding from Emergence Capital Partners of San Mateo, Calif. The company provides software-as-a-service CRM technology for the pharmaceutical and biotechnology industry and plans to use the capital to accelerate the growth of its flagship VBioPharma application in the life sciences market and to expand its use into other vertical markets. Wireless SageQuest SageQuest LLC, a Beachwood, Ohio, vehicle tracking and information management company, has received a $3.72 million Series D funding round. Hopewell Ventures of Chicago led the round, joined by founders Gary and Mark Mintz. SageQuest's technology provides end-to-end, real-time vehicle tracking to companies, allowing for route optimization, decreased overtime, and fuel expenses and reduced liability in areas such as vehicle theft and speed tracking. Other ShotSpotter ShotSpotter Inc., a Mountain View, Calif., developer of gunshot location systems, has completed a $7.5 million financing. The funding enables ShotSpotter to accelerate its market expansion in the military sector, the U.S. domestic public safety market and to expand internationally. Westly Group of Menlo Park, Calif., led the round, joined by Norwest Venture Partners of Palo Alto, Calif. and Broidy Capital Management of Los Angeles. Exisitng investors Levensohn Venture Partners of San Francisco, Lauder Partners and Labrador Ventures, both of Palo Alto, City Light Capital of Greenwich, Conn., and Claremont Creek Ventures of Oakland, Calif. also participated. The company's lead product, ShotSpotter Gunshot Location System, is used by law enforcement to detect gunfire and other weapons events across large urban areas using a small number of inexpensive and easy-to-deploy sensors.
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