Seattle - FlowPlay, the developer of a casual game-focused virtual world targeted at teenagers, has raised $3.7 million in its first round of venture capital financing, led by Intel Capital and Ambient Sound Investments.

New York - Blip.tv, a video-sharing site focused on independently produced videos, announced on Tuesday that it has raised an undisclosed sum in its second round of venture capital financing, led by Ambient Sound Investments, the fund established by Skype's founders.