This post is by Russ Garland from Venture Capital Dispatch
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A San Francisco startup, Arterys Inc., has emerged with technology that the company said could significantly change the diagnoses of diseases in the heart, brain and other internal organs, Deborah Gage reports for VentureWire. On Monday, Arterys plans to announce a $12 million Series A round from GE Ventures, Stanford-StartX Fund, Norwich Ventures and several current investors. Emergent Medical Partners, a Bay Area life sciences investor, is leading the round. GEHealthcare said in December that it would partner with Arterys, which was founded by four people from Stanford and has been in stealth for three years. GE plans to incorporate Arterys’ imaging analytics software into its MRI scanning technology in the second half of the year.
ALSO IN TODAY’S VENTUREWIRE (subscription required):
Reston, Va.-based StreetShares has closed on $4.5 million in new equity in the first tranche of its Series A round, becoming of the few online lenders that managed to raise Series A funding this year.
Encast Inc. has closed a $2.25 million angel round of funding for its platform that offers charitable donations as a service to businesses and individuals.
(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)
ELSEWHERE AROUND THE WEB:
Intel Considering Partial Sale of Venture-Capital Holdings. Intel Capital is exploring the sale of part of its venture-capital portfolio to focus on the areas that are most strategic to Intel, according to a person familiar with the matter.
Bank of America Courts Startups. Bank of America Corp. is abandoning its no-deals policy and going shopping in Silicon Valley. In a push to upgrade its technology offerings, the Charlotte-based lender is dispatching a top executive out West to look at possibly scooping up promising startup companies.
Instacart Cuts Pay for Couriers. Instacart Inc. is cutting the fees it pays couriers who shuttle groceries in two big markets, the latest Silicon Valley on-demand startup to seek to contain costs in a tightened funding environment.
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