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Avalon Ventures Backs Averon

socalTECH

La Jolla-based Avalon Ventures is the lead investor in the Series A round for Averon , a developer of mobile identity verification software this week. Avalon's Rich Levandov and Brady Borhmann both join Averon's board with the funding round. Averon, which is based in San Francisco, said it has raised $8.3M in a Series A funding.

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Avalon Funds Internet Comedy Site Cheezburger

socalTECH

San Diego-based venture capital firm Avalon Ventures has boosted an Internet web site publisher known for its humorous, captioned pictures of cats and use of Internet memes, Cheezburger. Other investors in the company include Foundry Group, Madrona Ventures, and SoftBank Capital.

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Core Innovation Capital Sets Up Shop In LA

socalTECH

In the latest positive move for the Los Angeles venture capital market, a new investor has moved into town, to take advantage of the area''s growing startup market. core innovation capital venture investment fund' The firm''s efforts here are headed by Arjun Schutte. READ MORE>>.

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Chumby Targets Digital Photo Frames

socalTECH

Chumby's software allows digital photo frame manufacturers to tie their products into social networking sites, photo and video sharing sites, and other Internet widgets such as Internet radio, news, weather, and RSS feeds. The design is based on the Linux operating system.

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Broadcom, Chumby Link On Set Top Box Effort

socalTECH

Chumby develops a Linux-based software set and hardware which allows users to pull Internet content--including news, weather, social networking pages, videos, and more--onto a alarm-clock like, Wi-Fi connected device. Chumby is venture backed by Avalon Ventures, JK&B Capital, Masthead Venture Partners, and O'Reilly AlphaTech Ventures.

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Plug and Play San Diego Finds Home in New Downtown Works Space

Xconomy

With over 15,000 square-feet of space, the facility has room for dozens of startup teams, and already houses Industry, a Web-based professional networking and job market for the hospitality industry, and the San Diego office of OurCrowd, the Israeli crowdfunding platform. The other partners are Edward Adato and Daniel Schwarzblat.). “I