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Groups Join To Promote Innovation, Entrepreneurship in Riverside County

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A trio of local groups have teamed together to promote innovation and entrepreneurship in Riverside County, and received approval Tuesday from the Riverside County Supervisors for the effort. The groups have not outlined their agenda for the effort yet.

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Helicoid Industries Finds $2.4M

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Indio, California-based Helicoid Idustries , a startup developing advanced composite materials for use in the wind turbine, aerospace, sporting goods, auto parts, defense, and industrial market, has raised $2.4M--the first part of what looks like an ongoing $5M investment round. Helicoid is a spinout of the University of California Riverside.

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FarmSense Harvests $2.2M In SBIR Funding

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Riverside-based FarmSense, a developer of "smart sensors" for the agriculture market, has raised $2.2M The agtech startup says it is developing a sensor which helps farmers identify harmful insects in their fields, in real time. in Small Business Innovation Research (SBIR) funding.

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WurkNow Gets $10M

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Riverside, California-based WurkNow, a developer of a digital staffing and workforce management software product, has raised $10M in a Series A funding, according to the company. The company said the round was led by Newport Hayseed Group, which is based in Newport Beach. The company is led by CEO and co-founder Sammy Singh.

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Water Planet Raises Series B Funding

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Los Angeles-based Water Planet , which develops water treatment membranes, said today that it has raised a new, Series B funding round. Water Planet said the investment came from Air Liquide's ALIAD Corporate Venture fund, Bluestem Capital and UCLA Venture Fund. Size of the funding was not disclosed.

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SolarReserve Claims Progress On Power Projects

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Santa Monica-based SolarReserve , the developer of utility scale solar power projects, claims today that it is proceeding with purchases of long-lead materials and equipment on its Crescent Dunes and Rice Solar Energy projects. READ MORE>>.

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Rustic Canyon Backs Social Shopping Site

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Los Angeles-based venture capital firm Rustic Canyon is the lead investor in a round of funding from a social shopping site out of Y Combinator. The round came from new investor Rustic Canyon Partners, and also included prior investors Blumberg Capital and Redpoint Ventures. in a Series A round. Mertado is based in Redwood City.