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NetOctave Snags $15.6 Million


NetOctave, Inc., a developer of silicon-based Internet security solutions, announced it has secured first round funding of $15.6 million. New investors included Intel Communications Fund and Durham's Intersouth Partners, one of the region's oldest venture capital firms. Additional participants in NetOctave's financing included Kitty Hawk Capital, MCNC, North Carolina Enterprise Corp. and the Wakefield Group. The funding, which was the RTP-based company's first round, will be used to more than double NetOctave's development team by early 2001 and to help expand marketing, sales and customer support teams.

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Click Tactics Reels in $23 Million


Direct marking firm Click Tactics of Charlotte has raised $23 million in its first round of funding, according to venturewire.com. Investments firms from both the United States and Canada contributed to the funding. The Wakefield Group, based in the RTP area, also contributed to Click Tactics' first round. Company officials said Click Tactics will use the funding for marketing, technology development, and operations.

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StemCo Raises $4 Million


StemCo Biomedical, Inc., based in Durham, has closed on first round venture financing of $4 million. Leading the first round was Intersouth Partners, with additional participation from The Aurora Funds. StemCo, which focuses on stem cell biology, is developing research, therapeutic and diagnostic tools at Duke University Medical Center. The funding will help StemCo finalize the development of its technology as it moves to future human clinical trials.

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SAS Sells SouthPeak


According to the News and Observer, SAS Institute has sold SouthPeak Interactive to an unnamed buyer for an undisclosed amount. Specializing in an expensive game-developing technique called "video realism," four-year-old SouthPeak experienced a scale-back in operations staring in February of this year.

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ChemCodes Receives $2 Million Grant for Technology Development


Durham's ChemCodes, which is developing technology for research and development scientists, has been granted a $2 million federal grant. ChemCodes was one of 54 companies nationwide to receive a grant from Advanced Technology Program, which is a division of the federal government's Commerce Department. Having grown from 4 to 24 employees since the summer of 1999, ChemCodes is looking advance the development of its "productivity-enhancing tools" for scientists.

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Advertising Available in CED Directory & Resource Guide


Space reservations for CED's Annual Membership Directory and Entrepreneurial Resource Guide are due on October 27th, 2000 artwork is due November 10th). Six thousand copies will be distributed January 2001 to all CED members and to participants at all of our conferences, seminars, meetings and roundtables. Directories are also distributed to investors, as part of Triangle information and relocation packages and to the general public upon request. Designed in a perfect-bound, magazine format in 8" x 11" size, the directory will include listings of 1,200 member companies, representing 4,000 individual representatives and will include useful entrepreneurial resource information. Ad sizes range from 1/3 to a full page ad with prices ranging from $700 to $1600. Please contact Jennifer Bersch (jbersch@cednc.org ).

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Alerts.com Partners with LocalBusiness.com


LocalBusiness.com, which provides local business news for cities all over the country, has inked an agreement with Raleigh's Alerts.com, a provider of change detection and notification services. Alerts has agreed to provide outsourced alerting services to LocalBusiness by helping users track business news by company, industry, city and keyword. Officials at LocalBusiness said the agreement will help their users stay ahead of the game when tracking business news and trends.

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Ericsson Awards Non-Profit Organizations


Five charitable and non-profit organizations from Australia, Fiji, South Africa and the United States received awards last week for their ideas on how Internet technology can be used to improve life for the individuals and communities they serve. Each winner will received $100,000 in web development services from Ericsson's Internet Solutions division to turn their ideas into reality. The five charitable and non-profit organizations are winners of the Ericsson Internet community Award (ERICA), a program developed by Ericsson to provide non-profit and charitable organizations with the resources and inspiration for using technology to further their mission.

The five winners included: The Fiji School of Medicine, Fiji; The Gould League, Australia; National Down Syndrome Society, USA; Pathways Community Network, USA; and Rhodes University Mathematics Project, South Africa. (More information on the ERICA winners can be found at www.ericsson.com/ERICA).

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Events Update




October 27th — Research Triangle InfoTech 2000

November 2nd — CED Information Session

November 2nd — Venture Capital Series 2000 - Session II

November 8th — Infotech Roundtable - Creating Your Written Business Plan

November 10th — Triangle Venture Breakfast Series

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