A handful of OC tech companies presented their stories to interested investors and executives across the country at a recent invite-only conference in Newport Beach.
A trio from Irvine comprising Zadara Storage Inc., smart technology provider Greenwave Systems Inc., and business software maker Mavenlink Inc. was joined by Newport Beach media analytics provider Veritone Inc. and chipmaker WiSilica in Laguna Hills among Red Herring Top 100 North America companies chosen to highlight their growth potential at the two-day conference at the Newport Beach Marriott Hotel & Spa.
Zadara Chief Executive Nelson Nahum, a presenter and panelist at the conference, said the forum provides a podium for high-potential companies unlike other events that focus on larger companies.
“If you want to see the future leaders of the industry, watch for the leading companies at Red Herring,” he said.
The storage device maker last year was named to the Red Herring North American and Global lists, joining prior standouts such as Google, Skype, YouTube and eBay. The company, which is meeting with investors for its next funding round, has raised $27.5 million.
“Conferences like the Red Herring Top 100 North America give us an opportunity to share the tremendous progress we’ve made in the last year with our innovative technology, differentiated product portfolio and growing customer base” WiSilica Chief Executive Suresh Singamsety said.
The company, which raised $3.3 million in a Series A round in January, is considering a strategic investor round late this year or in early 2017 to support the development of its Internet of Things platform and software that enables devices to communicate through Bluetooth.
Ingram Sale Inches Along
Ingram Micro Inc.’s $6 billion sale to Chinese conglomerate Tianjin Tianhai Investment Co. Ltd. earned a key nod from the Competition Committee of India as the transaction seeks regulatory approvals across the globe.
The Committee on Foreign Investment in the U.S., which recently has wielded influence regarding Chinese-led buyouts of U.S. companies, could provide an obstacle to the deal. The committee, which has purview over acquisitions and mergers that raise national security concerns, played a key role in prompting Chinese investor Unisplendour Corp. Ltd. in February to terminate its $3.8 billion investment in Irvine-based storage products maker Western Digital Corp. amid a federal inquiry.
Sunnyvale-based chipmaker Fairchild Semiconductor International rejected a $2.5 billion bid by China Resources Microelectronics Ltd. and Hua Capital Management Co. Ltd. that same month, in part over concerns that the committee wouldn’t grant approval as federal involvement broadens with China’s growing interest in U.S. tech companies.
Uber Autonomy
Ride-sharing giant Uber showcased its first autonomous vehicle on the roads of Pittsburgh. The Ford Fusion Hybrid features sensors, radars, laser scanners and high-resolution cameras, and is designed to gather mapping data to test its self-driving capabilities, according to a blog on the San Francisco-based company’s website.
Google, along with major automakers, including the Irvine-based units of Kia and Hyundai, are in various stages of bringing autonomous vehicles to the market, although several regulatory hurdles exist on the way to ultimate adoption over the next decade or so.
The Eyes Have It
San Francisco-based Wells Fargo and Co. held a recent demo of its latest technologies at a private event at the Westin South Coast Plaza in Costa Mesa.
The bank showcased a new app feature it’s rolling out for corporate customers that relies on eye vein-pattern recognition to authenticate users.
Wells Fargo invested in EyeVerify Inc. in Kansas City, Mo., about two years ago through its incubator as it seeks strategic partnerships to enhance security and other benefits for customers using mobile devices.
The technology scans veins in the white of the eye as the user tracks a moving green dot in the phone display.
The local event is part of a multicity showcase Wells Fargo is hosting to highlight the integration of tech advancements and services. Wells Fargo is OC’s largest commercial bank.
