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Avalon Ventures Backs LoopIt

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San Diego-based venture investment fund Avalon Ventures has made a seed investment in a developer of a social shopping service, LoopIt , according to the companies. Size of the funding was not announced. Avalon's Rich Levandov was involved in the investment. LoopIt is based in Cambridge, Mass.,

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Avalon Ventures Backs TwinStrata

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La Jolla-based venture capital investor Avalon Ventures is the lead in a round for cloud data storage firm TwinStrata , TwinStrata said today. TwinStrata, which is based in Masachusetts, said that Avalon lead its Series B funding round, which was worth $8M. Avalon's investment in TwinStrata was headed by Rich Levandov.

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Quippi Expands Partner List In Mexico

socalTECH

The startup--which is backed by Avalon Ventures--operates a financial service which lets consumers in the U.S. Quippi said its use of gift cards to offer fee-free alternatives to those money transfer services. The company says it has raised over $3M in venture funding in total so far. READ MORE>>.

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Quippi Raises $2M For International Money Transfers

socalTECH

La Jolla-based Quippi , which sells a gift card aimed at international money transfers, has raised $2M in a funding, the company disclosed today. The funding came from Avalon Ventures. Quippi operates a service--aimed at the Mexican market--which allows people in the U.S.

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Core Innovation Capital Sets Up Shop In LA

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According to Core Innovation Capital , it has moved its offices to Los Angeles from New York City, to be closer to potential investments in its focus area of funding companies serving underbanked consumers in America. The fund has not yet announced local investments, but has been actively talking to companies fitting its investment profile.

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Report: Chumby Has Shut Down

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Chumby--which had been backed by JK&B Capital, Avalon Ventures, Masthead Venture Partners, and O'Reilly AlphaTech Venture--was known for its Linux-based, open platform which let users access Internet content and other services. The firm had raised on the order of $25M in funding for its efforts.

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Awarepoint Raises $14M More

socalTECH

The firm said the round was led by Heritage Healthcare Innovation Fund (HHIF),a limited partnership operated by Heritage Group, a Nashville, Tenn.-based of the new investment round, which the company said will go to expand its services, client management, and manufacturing capabilities. HHIF contributed $7.5M READ MORE>>.

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