The Daily Startup: Instabase Seeded With $3.7 Million for Big-Data Tech

dailystartup_D_20090806101628.jpgArt by Mike Lucas

Instabase Inc. has been seeded with $3.7 million for its cloud-based hub for running data applications, Timothy Hay reports for Dow Jones VentureWire. The seed round was provided by Greylock Partners and New Enterprise Associates. The company said its technology is aimed at technical users and nontechnical users alike. Its platform will enable users to run a variety of programs and analytics on data sets.

ALSO IN TODAY’S VENTUREWIRE (subscription required):

Venture capital deals are on the increase in Central and Eastern Europe, but private equity deals are still in decline. The number of businesses that received venture capital backing reached 210, compared with 154 in 2013, according to a CEE private equity report published by trade body the European Private Equity and Venture Capital Association.

A former corporate-development executive with Facebook Inc. has formed a venture capital fund called Pathbreaker Ventures. The executive, Ryan Gembala has raised $3.4 million toward Pathbreaker Ventures Fund LP, according to a regulatory filing.

Ativa Medical Corp., which seeks to make many medical diagnostics available at the point of care, has raised a $23.1 million financing, according to a regulatory filing.

Novo Nordisk A/S, a Danish company best known for insulin treatments for diabetes, has agreed to acquire venture-backed Calibrium LLC to expand its ability to develop other types of drugs for the disease. Financial terms of the deal weren’t disclosed.

(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, scroll to the bottom and click “try for free.”)


Uber Hires Two Hackers to Work on Self-Driving Cars’ Defenses. Ride-hailing service company Uber Technologies Inc. has hired two hackers to work on the security of self-driving cars, The Wall Street Journal’s Danny Yadron reports. The company hired security researchers Charlie Miller and Chris Valasek, who caused a stir this year when they brought a Jeep Cherokee to a halt on a St. Louis highway by remotely hacking into the vehicle’s entertainment system. The two will work for the Uber Advanced Technologies Center in Pittsburgh–a center launched in winter to work on maps and automation technology with a cadre of former Carnegie Mellon University robotics experts.

Swedish Card-Reader Startup iZettle Raises More Cash. Sweden’s iZettle, which makes credit-card readers that turn mobile devices into portable teller machines, has raised an additional €60 million ($68 million), the WSJ’s Dominic Chopping and Jens Hansegard report. The company said the new funding would be used to help it launch a new service to offer cash advances to small businesses. IZettle said it would judge the credit risk of lending to business that have its card readers by looking at users’ transaction history and loans will be repaid to iZettle as a cut of future sales.

Write to Mike Billings at Follow him on Twitter at @mbillings