Series B
Nanomech, a nano-manufacturing technology company, has secured $12 million in Series B funding from Meadow Lane Investments, Hendricks Investment Holdings, Advantage Capital Partners and Spring Creek Investments. The company will use the latest funds to grow its global reach and invest in sales and marketing resources. “The additional capital proceeds are for the purpose of accelerating awareness and demand for our industry transformative nGlide and TuffTek products and expanding our physical presence in the energy manufacturing and transportation markets. Our sweep over the last year of the major top national new product awards including the R&D 100 Award, the Edison Award, and the SBIR Tibbetts Award, provide ample validation of NanoMech’s prowess in inventing, productizing, and commercializing world class technology. During this timeframe, we also reached a critical milestone in having our core patents issued by the USPTO and several key international patent offices,” said NanoMech CEO Jim Phillips.
Funding
Ping Identity, an identity security company, has raised a new funding round worth $35 million, led by KRR. Existing investors Draper Fisher, Jurvetson General Catalyst Partners , SAP Ventures, W Capital Partners, Volition Capital, Triangle Peak Partners and Appian Ventures all participated. “Identity security is hot, and it is a market in the midst of a massive technology shift that will reshape the entire industry,” said Andre Durand, founder and CEO of Ping Identity. “This funding is further recognition that Ping Identity has built the largest independent identity company, and we are positioned to extend that growth as an enduring, independent company. We’re excited to have the backing from KKR and our other incredible investors as we execute on Ping’s mission to secure and protect online identity.” Ping Identity was founded in 2002 and has raised $110 million to date.
Leeo, a connected device company still operating in stealth, has raised $37 million in funding from Formation 8, Max Levchin and Scott Banister. Strategic investors E.ON and Visionnaire Ventures also contributed to the funding round. The company was founded last year by the creators of Guitar Hero and Beats headphones, and will use the funds to prepare for launch.
India-based online classifieds company Quikr has raised $60 million in funding from Tiger Global Management and existing investors Kinnevik, Matrix Partners India, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus and eBay. Quikr will use the funds for growth, and already boasts more than 30 million monthly consumer and small business users. “The explosive growth in mobile internet is fundamentally reshaping the Indian classified internet market, and we are well-positioned to be at the forefront of growth,” Quikr founder and CEO Pranay Chulet said in a statement.