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o Utility.com Raises Over $22 Million in Third Funding Round EMERYVILLE, Calif. -- Utility.com, an Internet utility company, said it has closed its third round of venture funding, raising over $22 million. Gaz de France, a European gas company, led the round that included Sumitomo Corp. of Japan. Previous investors Southern Company Energy Marketing, Sempra Energy Trading, idealab! Capital Partners, Trident Capital, Primedia Ventures, Kinetic Ventures, TL Ventures, and Moore Capital Management also participated in the round. Utility.com said it will use the funds to support expanding operations. http://www.utility.com/ ____________________________________________-- GE Global Plans Railroad Exchange Site The Washington Post Can online commerce help rail companies save money on locomotives and boxcars? Gaithersburg-based GE Global eXchange Services will announce today the Global Rail Exchange, which aims to facilitate just such purchases. The Internet-based business-to-business exchange, which has been in testing for three months with some of the largest buyers and sellers of railroad equipment, officially opens for business today with the goal of serving as the online marketplace for trade of all the goods used by railroads. By bringing diffuse manufacturers and buyers together into one exchange, the company hopes to offer an attractive proposition to each side, said Otto Kumbar, the vice president of interchange solutions at GE Global eXchange Services. Suppliers have joined to get access to more potential buyers, while buyers have joined to pit suppliers against one another in pursuit of the lowest possible price for components of railroad systems. Global Rail Exchange, despite starting well after the crest of the wave in business-to-business start-ups, claims several advantages. It is run by a wholly owned division of General Electric Co., giving it clout in the marketplace, and already has 700 companies as users, including some of the biggest names in the railroad industry such as Amtrak, Norfolk Southern Corp. and CSX Corp. The company aims to bring liquidity to the market for rail industry supplies, and to cut transaction costs by conducting them online and profit through subscription fees, as well as collecting a transaction fee for each completed sale. Kumbar claims that in the initial tests with customers, suppliers saved an average of 10 to 25 percent on costs normally associated with selling their goods. Many online exchanges have had trouble gaining a foothold this year, as innumerable start-ups have set up--often in the same market--and many have yet to complete their first transaction or are struggling to generate profits. "I think the key to our exchange is making sure you have a return on investment for all buyers and suppliers," Kumbar said. "We have that." ____________________________________________________________ o Search Firm Requisite Technology Has $30 Million Mezzanine WESTMINISTER, Colo. -- Requisite Technology, which makes a product finding engine for e-commerce sites, raised $30 million in a mezzanine round led by the venture divisions of strategic partners, Oracle Venture Fund and SAP Ventures. Previous investors Trinity Ventures; Bowman Capital; and Mohr, Davidow also participated. There will be no board changes as a result of the investment. Requisite Technology said it will use the funds for operating expenses. http://www.requisite.com/ ___________________________________________________________ o Advanced Technology Ventures Raising New $800 Million Fund PALO ALTO, Calif. -- Venture capital firm Advanced Technology Ventures said it is raising its seventh fund, ATV VII, which it expects to close in the mid to late first quarter of 2001 with at least $800 million. ATV said its existing limited partners were participating in the new fund that will focus on early-stage communications, Internet infrastructure, software, and healthcare companies. The firm usually invests in Series A rounds, but makes some Series B and C round investments. Advanced Technology Ventures' portfolio companies include Boomerage Marketing, Garage.com, iConverse, Linx Communications, Onix Microsystems, and SpectraSwitch. http://www.atv-ventures.com/ _____________________________________________ o Qualcomm Forms Qualcomm Ventures with $500 Million SAN DIEGO -- Qualcomm, a company which develops and delivers digital wireless communications products and services based on its code division multiple access (CDMA) technology, said it has formed Qualcomm Ventures and is making a $500 million commitment to the fund that will be invested over four years. The fund will make strategic investments in startup companies globally to support the adoption of CDMA and promote wireless Internet usage. Jeff Jacobs, senior vice president of business development for Qualcomm will manage Qualcomm Ventures. The fund will target the areas of communications devices and applications; wireless communications components and infrastructure; Internet infrastructure, content and services; and enabling and complementary technologies. The size of each investment is expected to be up to $10 million. http://www.qualcomm.com/ventures/ _____________________________________________ o Broadband Firm IP Communications Gets $312 Million Round Two DALLAS -- IP Communications, a broadband service provider, said it has secured $312 million in its second round of funding led by VantagePoint Venture Partners, a previous investor. CIBC Capital Partners and GE Equity also reinvested more than 100% of their initial amount. New investors, DLJ Global Communications Partners, Desai Capital Management, Creative Technology, Prudential Capital Group-Direct Private Equity, and Bruckmann, Rosser, Sherrill & Co., as well as several other undisclosed private firms also participated in the round. Together, new and previous investors provided IP Communications with $130 million in equity financing. The remaining $182 was secured as a long-term debt. The company said it will use the funding to accelerate the strategic development of its network and develop its broadband products and applications. http://www.ip.net/ _____________________________________________ o Mobile Platform FreeRein Gets $15 Million Series A SEATTLE -- FreeRein, which is developing a platform to provide enterprise applications and services to mobile workforces, said it raised $15 million in Series A financing from ComVentures and Technology Partners. FreeRein co-founder and CEO, Don Davis, was managing partner for the Pacific Northwest region of USWeb/CKS. Bruce Gilpin, FreeRein co-founder and chairman of the board, was also a USWeb executive and a co-founder of Intend Change. http://www.freerein.com/ _____________________________________________ o French Security ASP Intranode Has $1.7 Million First Round PARIS -- Intranode, a French developer of online security applications, said it raised FFR 12 million ($1.7 million) in its first round of funding. Investors in the round included Innovacom and GemVentures. The company said it will use the funding to accelerate the development of new functions for its ActiveSentry product, and to increase its sales and marketing. http://www.intranode.com/ _____________________________________________ o Infrastructure Provider DV2 Raises First Round of Funding ATLANTA -- DV2, which provides managed colocation space and enterprise data storage services, said it raised its first round of funding for an undisclosed amount led by Nashville-based DC Investment Partners, which will have representation on the company's board. The company said it is still raising funds for expansion to different U.S. markets. DV2's products and services provide turnkey, outsourced data storage, managed server and colocation services, and communications services for users with large storage or high bandwidth transport needs. http://www.dv2.com/ _____________________________________________ o Online Financial Tool StatementOne Has $15 Million Round Two LAWRENCEVILLE, N.J. -- StatementOne, which provides brokers, financial advisors, and investors with data aggregation services and consolidated financial statements, said it raised $15 million in its second round of funding. Investors include Boston Ventures Management, Charterhouse Group International, Allianz of America, Desai Capital Management, and Axiom Venture Partners. The company will use the funds for software development and to rollout its first product, an online portal that provides financial advisors and their clients statements and performance reports. http://www.statementone.com/ _____________________________________________ o Broadband Firms Eureka and Gillette Global Network Merge NEW YORK -- Eureka Broadband, an ASP that provides business customers with broadband network applications and services, and Gillette Global Network, a telecommunications firm, said they are merging in an all-stock transaction and will operate as a 50-50 partnership. Spectrum Equity Investors and Lazard Technology Partners, both previous investors in each company, are planning on providing additional funding to the new company. Jeffrey E. Ginsberg, chairman and CEO of Eureka, will be chairman of the company and Robert W. Vanech, founder and president of Eureka, will be president. Gillette said the new name has not been decided and the two companies will operate under their current names until they become fully integrated in the third quarter of 2001. Eureka is backed by Spectrum Equity Investors, CB Richard Ellis Investors, and AT&T Ventures, and Gillette is backed by Encore Venture Partners, Lazard Technology Partners, and Shoemaker Investments. http://www.eurekabroadband.com/ http://www.ggn.com/ _____________________________________________
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