Solutions on a planetary scale require extraordinary investors. Qteros has obtained $25 million in Series B financing from a consortium of funders. Participating in the Series B financing are Battery Ventures, BP, Camros Capital, Long River Ventures, Quantum Group of Funds, and Venrock. Qteros also thanks the individuals who have provided funding for the company at critical times to assure our success.
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts. Battery has supported many breakthrough companies around the world, including: Akamai Technologies (NASDAQ: AKAM), BladeLogic (acquired by BMC Software), Cbeyond (NASDAQ: CBEY), Insitu (acquired by Boeing), LIFFE (acquired by EuroNext), and Neoteris (acquired by Netscreen). Its current portfolio includes emerging leaders in Clean Tech and Advanced Materials such as: Freshpoint, Lion Cells, Luminus Devices, Nova Analytics, SmartSpark Energy Systems and Qteros (formerly SunEthanol). From offices in Boston, Silicon Valley, and Israel, Battery manages more than $3 billion in committed capital, including its current fund of $750 million. For more information on the firm and its clean tech portfolio, visit www.battery.com.
BP is of one of the world’s largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. It is the largest oil and gas producer in the U.S. and one of the largest refiners. BP also has a global network of around 25,000 service stations. BP is a leading player in the global biofuels market. In the US, BP blended and distributed 763 million US gallons of ethanol and about 1 million US gallons of biodiesel during 2007. In Europe, BP sold 344 million liters of ethanol and 847 million liters of biodiesel during 2007. BP’s sales of biofuels in 2007 accounted for about 10% of the global biofuels market.
About Camros Capital, L.L.C.
Founded in 2007 by Parviz Tayebati, Camros Capital, L.L.C., is a private investment and venture capital firm with a mission to identify innovative technologies and assist in taking them into the marketplace. Dr. Tayebati has led many successful start-ups, including AZNA Corporation, which he cofounded in 2002 and later sold to Finisar Corporation; and CoreTek, Inc, a company he founded and ran until it was acquired by Nortel Networks in 2000 for $1.43 billion.
About Long River Ventures
Long River Ventures identifies promising opportunities and entrepreneurs in secondary geographic markets around the Northeast. The company invests in information technology, clean tech, business services, and consumer businesses that are leveraging technology in a sustainable, competitive way. It manages $50 million through its first funds (Long River Ventures and the Worcester Venture Fund) and now through Long River Ventures II. The group often works with companies that are raising rounds of $5 million or less and that can reach key business milestones in a capital efficient manner, particularly opportunities where entrepreneurs can build successful smaller companies first, thereby proving their technology and business models. In addition to Qteros, Long River’s portfolio companies include Afferent, Aircuity, M2S, Optasite, PogoJet, Protedyne, Reconda International, Tazz Networks, Inc., Verax BioMedical, and others. For more information on the firm, visit www.longriverventures.com.
About the Quantum Group of Funds
The Quantum Group of Funds are privately owned, hedge funds based in Curaçao (the Netherlands Antilles) and the Cayman Islands. They are advised by George Soros through his company Soros Fund Management.
Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family, Venrock continues a seven-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. Having invested $2.2 billion in 417 companies resulting in 124 IPOs over the past 39 years, Venrock’s investment returns place it among the top tier venture capital firms that have achieved consistently superior performance. With a primary focus on technology, healthcare, and energy, portfolio companies have included Adify, Adnexus Therapeutics, Apple Computer, Centocor, Check Point Software, DoubleClick, Gilead Sciences, Idec Pharmaceuticals, Illumina, Intel, Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vontu. For more information, please visit Venrock’s website at www.venrock.com.