Peter Glatzer and Adrian Grenier has launched a new website called SHFT, which is a digital media platform that allows people to read content and buy products that are related to sustainable development. Galtzer is an indie film producer and Grenier is known for playing the character Vincent Chase on the hit show Entourage. The tagline of the website is “Curating the Culture of Today’s Environment.”

Tumblr is a popular blogging service that has raised $85 million in a new round of funding. Tumblr is best known for simple blogging tools to post photos, videos, songs, etc. The investment in this round was led by Greylock Partners. Insight Venture Partners, the Chernin Group, Richard Branson, Spark Capital, Union Square Ventures, and Sequoia Capital also participated in this round.

Biofuel and biochemical company Gevo Inc. (NASDAQ:GEVO) raised $107 million in an IPO. Gevo uses chemical processes to make isobutanol from sugar. The biofuels and biochemicals offered by Gevo could be an alternative to ethanol. After expenses and underwriting discounts, the company made about $95.7 million. Khosla Ventures and Richard Branson were investors in Gevo.

Virgin founder Richard Branson is launching a digital magazine made for the Apple iPad. The publication is expected to be called “Project.” This news arrives shortly after Rupert Murdoch announced that News Corp. is launching a digital newspaper for the iPad called “The Daily.” Project will have news that entertainment, travel, business, designer, and international culture news. The official announcement is expected to take place at a press event in New York City next Tuesday. [AFP]