Tag Archives: H.I.G. Ventures
Mobile Geo-Location Service LOC-AID Raises $13 Million
Geo-location mobile transaction company LOC-AID Technologies has raised $13 million in funding. LOC-AID has previously raised funding from Intersouth Partners and H.I.G. Ventures. LOC-AID has designed a geo-location platform for Sprint, AT&T, and Verizon to deliver targeted content to customers.
Suniva Gets $141 Million Loan Guarantee From Energy Department
Silicon solar cell company Suniva has just received a $141 million loan guarantee from the U.S. Department of Energy. Suniva joins the likes of other solar companies such as Solyndra and Brightsource Energy, who received $535 million and $1.37 billion respectively. Suniva will use the loan to build a solar cell manufacturing facility in Michigan according to VentureBeat. The Michigan plant could employ about 500 full-time positions and 2,000 temporary jobs. Suniva’s goal is to develop solar cells that require less pricey silicon. Suniva raised a total of $375 million in venture capital from Warburg Pincus, HIG Ventures, New Enterprise Associates, Advanced Equities, and Apex Ventures.. [VentureBeat]
Batanga Raises Mucho Dinero: $30 Million
Batanga is a Coral Gables (Miami), Florida based Latino entertainment and media website. Today, the company has raised $30 million in Series C from Tudor Ventures and H.I.G. Ventures. Batanga has 22 online radio stations, 2000+ music videos, Latin music blogs, music download stores, custom radio channels, and e-cards.
This model seems very similar to Yahoo! Music, but tailors more towards a specific demographic. Batanga’s radio services and membership is free.
Batanga was founded in 1999 by Troy McConnell and Rafael Urbina is the CEO. Batanga receives about 4.5 million unique visitors per month and millions of videos and songs are streamed per month. Competitors include AOL Latino, elhood.com, Univision.com, and Yahoo-Telemundo.
References:
[1] Private Equity Hub: Batanga Raises $30 Million
Categories Batanga, H.I.G. Ventures, Tudor Ventures
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