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Hyundai taps EV startup Canoo to develop electric vehicles

TechCrunch LA

Hyundai Motor Group said it will jointly develop an electric vehicle platform with Los Angeles-based startup Canoo, the latest startup tapped by the automaker as part of an $87 billion push to invest in electrification and other future technologies. Canoo said it will provide engineering services to develop the electric platform.

Startup 310
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Upfront Ventures Raises > $650 Million for Startups and Returns > $600 Million to LPs

Both Sides of the Table

2021 saw phenomenal returns for our industry and it topped off more than a decade of unprecedented VC growth. Since 2021, Upfront returned more than $600 million to LPs and returned more than $1 billion since 2018. What do you do with a $650 million platform? The answer is: not much.

Startup 408
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Techstars LA Draws International Companies For 2021 Class

socalTECH

Techstars LA, the startup accelerator headed up by Matt Kozlov, announced its 2021 class this week, drawing an international group of twelve new companies to its startup accelerator in Culver City.

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Manufacturing startup Divergent 3D reduces staff by one-third

TechCrunch LA

1 priority was to ensure long-term financial stability and secure the core team, technology development and customer programs no matter what the scenario, Czinger said, adding that there is still enormous uncertainty surrounding the real impact and duration of the COVID-19 pandemic. The company’s No. Image Credits: Czinger Vehicles.

Startup 251
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Canada’s newest unicorn: Clio raises $110M at a $1.6B valuation for legal tech

TechCrunch LA

Clio , a software company that helps law practices run more efficiently with its cloud-based technology, announced Tuesday it has raised a $110 million Series E round co-led by T. The company’s platform aims to serve as “an operating system” for lawyers, offering cloud-based legal practice management, client intake and legal CRM software.

Platform 244
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Reflections on 2020: Andy Wilson, Alliance for SoCal Innovation

socalTECH

As you may recall the Alliance's mission is to elevate the region as a global leader in innovation, technology & entrepreneurship. What are you most looking forward to in the technology/startup world in 2021? You will be able to get to all of these posts on our 2020 reflections here.

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Fintech giant Klarna raises $639M at a $45.6B valuation amid ‘massive momentum’ in the US

TechCrunch LA

Overall, Klarna is live in 20 markets, has more than 90 million global active users and more than 2 million transactions a day conducted on its platform. billion in volume for the entire fiscal year of 2021 and Afterpay is projecting $16 billion in volume for its entire fiscal year. . Klara is now live with 24 of the top 100 U.S.