Aurora Biofuels, an Alameda, Calif. developer of biofuels produced from open-pond algae, has raised $15 million in a third round of financing led by Oak Investment Partners. Returning investors included Gabriel Venture Partners and Noventi Ventures.
With this latest round Aurora has raised $40 million. The company plans to use the new cash to grow production and eventually commercialize its algae-based biofuel. Continue reading VC Update: Aurora Secures $15M As Part Of Series C; Agile Raises $13.2M From Good Energies