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Groups Join To Promote Innovation, Entrepreneurship in Riverside County

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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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SolarReserve Claims Progress On Power Projects

socalTECH

Santa Monica-based SolarReserve , the developer of utility scale solar power projects, claims today that it is proceeding with purchases of long-lead materials and equipment on its Crescent Dunes and Rice Solar Energy projects. READ MORE>>.

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Rustic Canyon Backs Social Shopping Site

socalTECH

Los Angeles-based venture capital firm Rustic Canyon is the lead investor in a round of funding from a social shopping site out of Y Combinator. The round came from new investor Rustic Canyon Partners, and also included prior investors Blumberg Capital and Redpoint Ventures. in a Series A round. Mertado is based in Redwood City.

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TruTouch Technologies Ups Series B-1 To $4.3M

socalTECH

Riverside, California- and Albuquerque, New Mexico-based TruTouch Technologies , which develops biometric, alcohol detection systems, said today that it has raised $4.3M in its Series B-1 funding round. The funding came from iTulip Community and Launchpad Venture Group.

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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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SolarReserve Gets CPUC Approval On Project

socalTECH

Santa Monica-based SolarReserve , the well-backed developer of solar thermal power plant technology, reported today that Pacific Gas and Electric (PG&E) has received approval from the California Public Utilities Commission (CPUC), for the 25-year power purchase agreement announced last December by the firms.

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FarmSense Harvests $2.2M In SBIR Funding

socalTECH

Riverside-based FarmSense, a developer of "smart sensors" for the agriculture market, has raised $2.2M The agtech startup says it is developing a sensor which helps farmers identify harmful insects in their fields, in real time. in Small Business Innovation Research (SBIR) funding.

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