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Groups Join To Promote Innovation, Entrepreneurship in Riverside County

socalTECH

A trio of local groups have teamed together to promote innovation and entrepreneurship in Riverside County, and received approval Tuesday from the Riverside County Supervisors for the effort. The groups have not outlined their agenda for the effort yet.

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University of California Plans $250M Venture Capital Fund

socalTECH

Startups related to the many University of California campuses in Southern California may soon have a new source of funding: The University of California itself, via a new, $250M venture capital. The fund would seek to invest in companies started on campus, from University research, and from students. READ MORE>>.

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Helicoid Industries Finds $2.4M

socalTECH

Indio, California-based Helicoid Idustries , a startup developing advanced composite materials for use in the wind turbine, aerospace, sporting goods, auto parts, defense, and industrial market, has raised $2.4M--the first part of what looks like an ongoing $5M investment round. Helicoid is a spinout of the University of California Riverside.

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Massage-on-demand company, Soothe, raises $31 million

TechCrunch LA

The Series C round from late stage and growth capital investment firm, The Riverside Company , caps a busy first quarter for the massage service. The massage-on-demand service Soothe seems to be rubbing investors the right way with the close of a new $31 million round of funding.

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WurkNow Gets $10M

socalTECH

Riverside, California-based WurkNow, a developer of a digital staffing and workforce management software product, has raised $10M in a Series A funding, according to the company. The company said the round was led by Newport Hayseed Group, which is based in Newport Beach. The company is led by CEO and co-founder Sammy Singh.

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Water Planet Raises Series B Funding

socalTECH

Water Planet said the investment came from Air Liquide's ALIAD Corporate Venture fund, Bluestem Capital and UCLA Venture Fund. Water Planet is led by Eric Hoek, the former UCLA and UC Riverside professor who created the membrane technology behind another, water filtering membrane startup, NanoH2O, which is now part of LG.

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SolarReserve Claims Progress On Power Projects

socalTECH

SolarReserve's Crescent Dune Energy Project is in Tonopah, Nevada, and its Rice Solar Energy Project is in Riverside County. SolarReserve is backed by Citi Alternative Investments, Sustainable Development Investments (SDI), Good Energies, US Renewables Group, PCG Clean Energy & Technology Fund, Nimes Capital, and Credit Suisse.

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