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Internet commerce Ice.com Online jeweler Ice.com has closed a $46.6 million equity round that will enable it to completely rebuild its infrastructure. Ice.com and its subsidiary, Diamond.com specialize in the direct sale of diamond jewelry, engagement rings and fashion jewelry to consumers. Polaris Venture Partners of Waltham, Mass., led the new financing, joined by existing investor Ignition Partners of Bellevue, Wash. The new capital comes on top of the $12.5 million investment the company received from Ignition two years ago. Founded in 1999, the company plans to use the capital to rebuildits infrastructure and technology from including the Web bsite, CRM, back-end, the warehouse management system. Software Hillcrest Labs Hillcrest Labs of Rockville, Md., has closed a $25 million led by new investor AllianceBernstein of New York. Existing investors New Enterprise Associates of Baltimore, Columbia Capital of Alexandria, Va., and Grotech Capital Group of Timonium, Md. also participated. Hillcrest will use the funds to extend its application creation platform and pointing technology to a range of devices that control and display digital media. Founded in 2001, Hillcrest's software enables consumer electronics manufacturers and service providers to create unique interactive digital media products for TV and other digital media devices. Medical devices Aragon Palo Alto, Calif., medical device startup Aragon Surgical Inc. raised $25 million in a Series B round of venture capital led by Bay City Capital of San Francisco and adding Integral Capital Partners of Menlo Park, Calif., as a new investor. The deal is expected to position the company with five products on the market within two years. The new investors joined Delphi Ventures and Onset Ventures, both of Menlo Park, which formed Palo Alto, Calif.-based Aragon in May 2005 to advance radio frequency technology developed at Stanford University Medical School for use in laproscopic and other surgeries. The company spent an initial $500,000 to explore the market and establish the viability of technology, then raised $5.5 million from initial investors to complete products and early regulatory trials, before raising the current round to bring products to market and build a sales and marketing infrastructure. -- Clifford Carlsen Biotech ZyGEM Solana Beach, Calif.-based ZyGEM Corp. Ltd., a developer of enzymatic technology for DNA extraction and detection has closed its first round for an undisclosed amount. Venture investors in the round were not revealed. The company will use the funds for new life sciences applications for its enzyme technology, and to expand geographically in North America, Europe and Asia. Energy Deeya Freemont, Calif., cleantech startup Deeya Energy Inc., a developer of energy storage systems, has raised $15 million Series B funding and appointed Vic Mahadevan as president and CEO. The company's L-Cell batteries are designed to last seven years, after which it can be refurbished and recycled with minimal cost. Additionally, L-Cells contain environmentally benign materials and are infinitely recyclable. New Enterprise Associates of Menlo Park, Calif., les the round, joined by existing investors BlueRun Ventures, Draper Fisher Jurvetson and DFJ Element, all of Menlo Park.  Deal Video
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