Now, a startup called Insight Innovation & Technology Ltd. (a.k.a. Insight) is using wireless sensors and networks in the wild to predict, prevent and track forest fires. The company installed its technology in Hong Kong’s Tai Lam Country Park with the cooperation of the Guangdong Forestry Department.

The sensors were placed strategically (image, right) to monitor environmental factors like temperature and humidity throughout the forest. The data they pick up is transmitted in real-time via 4.2Ghz radio frequency communication networks. Insight won two awards today for this project, from a major research park and incubator: the Honk Kong ICT 2011 silver award for the “Best Innovation & Research (Postgraduate & Open),” and a certificate of merit for “Best Social Responsibility.”

Insight Venture Partners, the NYC-based investment firm that has backed companies like Twitter, Chegg, Flipboard and HauteLook, this morning announced the closing of two new funds with a combined $2 billion in commitments.

One fund, Insight Venture Partners VII, has received approximately $1.5 billion of institutional commitments and roughly $70 million of additional affiliate and friend commitments. Insight Venture Partners Coinvestment Fund II, which the firm explains was established for co-investments in larger deals, received $450 million in commitments.

The significant majority of Insight’s existing investors committed capital to the new funds, which will enable the firm to invest up to $150 million per transaction.

Since its inception in 1995, Insight says it has received total commitments of more than $5 billion. Its most recent investment was announced last week, when we reported that the firm joined a $40 million round of financing for Israeli startup Wix.

OverDrive, which provides infrastructure and services for the distribution of digital content such as ebooks, audiobooks, music and videos, has raised capital from PE firm Insight Venture Partners, the New York-based backer of the likes of Twitter, Chegg, Privalia, Newegg and HauteLook.

The size of the financing round remains undisclosed, but OverDrive says it concerns a “major investment” and the provision of additional resources and capital by the investment firm is subject to regulatory approval.

OverDrive was founded by President and CEO Steve Potash back in 1986, and has established partnerships with leading publishers including Random House, HarperCollins, Penguin, Hachette, McGraw-Hill and hundreds of others over the years.

Today, OverDrive says it operates a digital content repository and fulfillment platform for ebooks, audiobooks, music and video content for a global network of more than 11,000 retailers, libraries, schools, and other digital channels.

Its catalogs are said to encompass more than 500,000 premium copyrighted titles, including one of the world’s largest catalogs of ebooks in the open-standard EPUB format.

OverDrive says it will soon be releasing ebook appls for Android and iOS devices, all of which will display EPUB ebooks in their native format and include multimedia support.

Peter Sobiloff and Larry Handen, both managing director at Insight Venture Partners, will join OverDrive’s board of directors.

The latest Honda Insight goes on sale tomorrow. We spied the inexpensive hybrid at the North American International Auto Show and liked what we saw. Unfortunately, the sales are limited to Japan for the time being, but eventually American ecofreaks will be able to prance with unicorns too.

The model starts ¥1,890,000 (approximately $21,000) which is slightly less then the starting price of a Toyota Prius. Early reports also put the Prius ahead of the Insight in terms of MPG but at least there is another green option for Joe the Treehugger now.

Honda recently unveiled the second generation Honda Insight and we spend sometime with the Prius-look alike. The interior has a futuristic look that you know was done on a budget thanks to the cheap plastic. The dash cluster is not only fun, but functional, with the tach center located and the speedo housed alone above the main instruments. The radio and HVAC controls continues the plastic and functional feel but keep in mind this hybrid has a EPA mileage estimates of 40 mpg city, 43 highway, and 41 combined for less than the Prius so high-quality material probably wasn’t a top priority. Photo gallery after the jump.[PSGallery=1rfounkcst]

Honda has developed an ecological drive assist system [JP], which will be used in a new Insight hybrid model that is scheduled for release next spring in Japan.

The system is based on three different functions:

- teaching
(a display on the dashboard (“eco guide”) provides visual feedback about the level of fuel efficiency the driver achieves with his or her driving style in order to “teach” drivers how to drive efficiently)

- ECON
( in the ECON mode, the system will take over control of the continuously variable transmission (CVT), the air-conditioning and the engine to reduce fuel consumption)

- coaching
( the car’s speedometer changes its color in real time to indicate if the car is driven in a fuel-efficient way)

Honda says they are the first company in the world to combine these three funtions in an integrated drive assist concept.