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Silicon Beach Report Oct. 23: Scott Painter’s Next Auto Venture Secures $1 Billion Debt, Equity Funding

L.A. Business Journal

Scott Painter’s next auto venture secures $1 billion debt and equity funding, Air Force adds more than $40 million to SpaceX engine contract and Snap overestimates Spectacle demand leaving hundreds of thousands unsold.

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9 Innovative Startups To Watch For in 2024

Tech.Co

As investors continue pouring funding into artificial intelligence and consumer habits shift, many AI and subscription model startups have been enjoying rapid growth. Source: runwayml.com In June, Runway raised $141 million in funding, nudging its market valuation to an envy-inducing $1.5 Organic milk formula product Bobbie.

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All The Questions You Wanted Answered about Bird Scooters and Their Recent $300 Million Funding

Both Sides of the Table

While this reaction to such a valuation is understandable, to anybody who has seen the meteoric rise in consumer demand and actual revenue the valuation is much less surprising and may turn out to be quite conservative. This is why so many great LA funds like Upfront, Greycroft and B Capital Global have all backed Bird.

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Relativity, a new star in the space race, raises $140 million for its 3-D printed rockets

TechCrunch LA

Manufacturing can be done within 60 days, according to the company’s claims, and its vehicles have a payload capacity of up to 1250 kilograms ( SpaceX’s largest rockets will have roughly 100 times that payload capacity). space industry. . “We’re really really truly focused on the rockets for now,” says Ellis.

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As Groupon Files For IPO, What SoCal Firms Might Be Next?

socalTECH

Southern California has had its own share of IPOs over the last year, including Demand Media, Active Network, and Boingo Wireless. SpaceX [ profile ]. Backers: Elon Musk, Founders Fund. Why: Interest in electric cars at a high; successful IPO at Tesla (see SpaceX) might have been driving these rumors. Those firms are: 1.

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What Is xAI? Elon Musk Reveals New Startup To Rival OpenAI

Tech.Co

The billionaire SpaceX chief certainly knows how to build an AI company, having co-founded ChatGPT owner OpenAI back in 2015, only to sell his stake three years due to a perceived conflict of interest with his electric vehicle company Tesla. Corp” in Nevada, according to business records seen by the Financial Times.

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LA's Innovators Get Spotlight, But Investors Cautious

socalTECH

More than one attendee expressed worries about seed level startups having issues getting more funding; seeing too many "me-too" startups; and the importance of proving out viable business models. and who, as Sky Dayton aptly states --know that the one trait that all entrepreneurs must have: perseverance. READ MORE>>.

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