Early stage roundup

SAN FRANCISCO (Private Equity Week) - Only five tech startups nationwide raised early stage funding last week, according to Thomson Reuters, as the pace of dealmaking in the early part of the third quarter follows that of the second quarter.

In the second, first-time venture investments in companies overall dropped to a 15-year low, according to the MoneyTree report by the National Venture Capital Association and PricewaterhouseCoopers, based on Thomson Reuters data.

Among the startups to raise capital last week was Pathway Genomics, which provides direct-to-consumer DNA testing services. The San Diego-based company raised an undisclosed amount of financing from such venture firms as the Founders Fund, the San Francisco-based backers of Facebook and other early stage technology companies.

The company sells a DNA health testing kit online for $249.

BIOTECH

Pathway Genomics

San Diego

www.pathway.com

Amount/Round: NA/Series A

Investors: The Founders Fund, Edelson Technology Partners and Western Technology Investment.

Details: Develops personalized genomics tests.

CLEANTECH

Finite Carbon Corp.

Wayne, Penn.

www.finitecarbon.com/

Amount/Round: $2M/Series A

Investors: TL Ventures.

Details: Operates as a forest carbon development company to help landowners create and monetize carbon offsets. Scott Nissenbaum, the company's president, is a former managing director with Novitas Capital (f.k.a. PA Early Stage Partners). The company was co-founded by CEO Robert Verratti, who is listed as an operating partner at TL Ventures.

Solaren

Manhattan Beach, Calif.

www.solarenspace.com

Amount/Round: $600K/Series A

Investors: NA Details: The company develops solar panel technology to deliver power from space-based systems, using high-power radio waves to deliver the energy. See story, page 1. merchants. The company has now raised more than $21M in total VC funding.

WIRELESS COMMUNICATIONS

Aloqa

Palo Alto, Calif.

www.aloqa.com

Amount/Round: $1.5M/Series A

Investors: Wellington Partners (led) and individual investors.

Details: The company is developing mobile search technology. Sanjeev Agrawal, former head of Google product marketing, was named CEO.

Nexage

Fremont, Calif.

www.nexage.com

Amount/Round: $4M/ Series A

Investors: BlackBerry Partners Fund and GrandBanks Capital.

Details: Develops mobile advertising solutions. The company says that it plans to relocate to Boston. Ryan Moore, general partner of GrandBanks, has joined the board.