socalTECH

NOVEMBER 21, 2016

Los Angeles-based next generation transportation technology developer Hyperloop One said Friday that it has settled a lawsuit filed by former CTO Brogan BamBrogan and three others. Terms of the settlement were not disclosed. BamBrogan and three other former employees had filed suit against Hyperloop One--as well as a number of board members-- in July, and Hyperloop One had filed its own countersuit against BamBrogan for $250M.

Los Angeles 160

Los Angeles Technology Angel Develop 160

L.A. Business Journal

NOVEMBER 21, 2016

Snap Inc. opens Spectacles store in New York City, across the street from Apple store, NBC Universal plows $200 million more into Buzzfeed, and virtual reality video distribution platform Vrideo shuts down.

Buzzfeed 109

Buzzfeed Report Platform 109

socalTECH

NOVEMBER 21, 2016

Los Angeles-based Statis Labs , a developer of vital signs monitoring equipment, has raised $5M in a seed funding round, the company said last week. The funding was led by RTP-HC, and also included Wonder Ventures, Techstars Ventures, and others. Milena Adamian, MD, of RTP-HC has joined the company's board as part of the funding. Statis Labs is a spinout of the University of Southern California (USC), and came out of CEO Dinesh Seemakurty's personal experience seeing a love one passed away due t

Southern California 143

Southern California Seed Funding USC Los Angeles 143

L.A. Business Journal

NOVEMBER 21, 2016

Hyperloop One has settled a breach of fiduciary lawsuit brought by Brogan BamBrogan, its former chief technology officer and co-founder, and three other employees, the Business Journal reports. In a complaint filed July in Los Angeles Superior Court, BamBrogan claimed he was fire after he was critical of Hyperloop One Board Chairman Shervin Pishevar’s management of the company, whose behavior he claimed was tantamount to a breach of fiduciary duty.

Chief Technology Officer 109

Chief Technology Officer Journal Los Angeles Report 109

Advertiser: Aggregage

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

Company

socalTECH

NOVEMBER 21, 2016

San Diego-based biotech company Genalyte said this morning that it has raised $36M in a new funding round, for its efforts to develop a microchip-based testing platform. The funding was led by Khosla Ventures and Redmile Group. Genalyte is led by founder and CEO Cary Gunn. The company is initially targeting rheumatology offices with its technology. READ MORE>>.

San Diego 143

San Diego Platform Funding Technology 143

Xconomy

NOVEMBER 21, 2016

Uncertainty surrounding this year’s presidential election has kept U.S. IPO activity at a sluggish pace—so sluggish, in fact, that this year could end with the fewest IPOs and the lowest level of capital raised since 2009, according to PitchBook data for the first nine months of 2016. But this is no time to trash talk the IPO market, according to Kathleen Smith of Renaissance Capital , a Greenwich, CT, firm that manages IPO-focused Exchange Traded Funds.

Research 84

Research Activity Capital Funding 84

Startup Professionals Musings

NOVEMBER 21, 2016

After listening to hundreds of startup pitches, and reading even more business plans, most new venture investors develop their own favorite list of “red flags” that signal the beginning of the end of their interest. Others, like Guy Kawasaki , have irreverently called some of these “entrepreneur lies,” but I prefer to think of them as innocent enhancements or omissions that can kill your deal.

Funding 98

Funding Startup Innocal Entrepreneur 98

socalTECH

NOVEMBER 21, 2016

Venice, California-based Snapchat is continuing to deploy its Snapbot automated vending machines for its Spectacles across the country, and is currently in New York City, after trips to the Rose Bowl and the Grand Canyon over the weekend. The location in New York City is the first time the "bot" has showed up on the East Coast. Snapchat is moving its Spectacles "Snapbot" vending machine everyday, only letting people find those vending machines on the day that they appear.

Snapchat 131

Snapchat Venice UCLA Santa Monica 131

socalTECH

NOVEMBER 21, 2016

The Dexcom One Step Ahead Foundation , a new employee foundation run by employees of medical equipment products maker Dexcom said it has awarded the first grants out of the brand new foundation, to five public charity organizations. The foundation said the grants range from $10,000 to $50,000, and go to projects aimed at producing the most sustained benefits to the health and quality- of-life for people living with diabetes.

Organization 125

Organization Networking Product Develop 125

socalTECH

NOVEMBER 21, 2016

San Diego-based biotherapeutics developer aTyr Pharma announced this morning that it has received a $20M credit facility. The credit facility came from Silicon Valley Bank and Solar Capital Ltd. Terms of that credit facility were not announced. The company said it will use the funding to pay off existing indebtedness and for general corporate purposes. aTyr Pharma is developing therapeutics addresses severe and rare diseases related to muscular dystrophy and other areas.

San Diego 109

San Diego Capital Funding Develop 109