Friday, April 30, 2010

EdenIQ Raises $12.4M For Clean Technology Efforts

Visalia-based EdenIQ, a developer of yield-enhancing products for the biofuels industry, said this week that it has raised $12.4M in a Series B funding round. The new funding was led by Draper Fisher Jurvetson, and also included The Westly Group, Kleiner Perkins Caufield& Byers, Cyrus Capital, Angeleno Group, Element Partners, Morgan Stanley & Company, Advanced equities, OmniNet, Nimes Capital, and others. Jennifer Fonstad of DFJ joins the company's board as part of the funding, as does Daniel Weiss of Angeleno Group. EdendIQ is developing yield enhancing products for the production of corn and sugarcane for the biofuels industry. According to the company, it will use the funding to speed development of its technologies. More information »