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10/31/2008
05:17 PM
John Foley
John Foley
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VC Drought? 70 Million Exceptions To The Rule

Anxiety is high in Silicon Valley over an anticipated decline in VC funding, but investment money hasn't dried up yet. In the past few days, a handful of startups have pulled in $70 million.

Anxiety is high in Silicon Valley over an anticipated decline in VC funding, but investment money hasn't dried up yet. In the past few days, a handful of startups have pulled in $70 million.Here's an ad hoc tally of recent deals:

Data warehouse appliance maker Dataupia has secured $10 million in additional Series B financing, the Journal of New England Technology reports today.

The BlackBerry Partners Fund doled out $16.7 million to three companies: $3.2 million to Buzzd, a mobile city guide and social network; $5.5 million to Digby, developer of a secure wallet and location-based service for mobile shopping; and $8 million to WorldMate for its travel-based service.

Syncplicity, a new company offering online data management, has received $2.35 million from True Ventures and other private investors. Syncplicity specializes is what it calls "active data," or data that's worked on by multiple users or updated frequently.

Israel-based LucidLogix Technologies, maker of graphics-processing technology called Hydra, has secured $18 million in Series C of funding from Rho Ventures, Genesis Partners, and Giza Venture Capital.

Last week, social networking site LinkedIn disclosed that it's taking $22.7 million in another round of funding, on the heels of a $53 million infusion a few months earlier. New investors include Goldman Sachs, McGraw Hill, and SAP Ventures.

Every day I get a call or message from another startup wanting to talk about how it's navigating through the approaching storm of tight-fisted investors and customers. The subject line from Tableau Software, which recently closed $10 million in funding, is typical: "Bucking the trend: startup profitable, hiring, growing."

Optimism springs eternal among startups. Let's see if eternal lasts into the next quarter.

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