Tue.Aug 07, 2018

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Cal Net Acquired by Nexus Technologies

L.A. Business Journal

Chatsworth-based Cal Net Technology Group was acquired by ABRY Partners subsidiary Nexus Technologies Inc. (which does business as NexusTek) Aug. 6. Cal Net provides managed IT solutions and will now operate as a NexusTek entity.

.Net 113
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Sagewise Secures $1.25M

socalTECH

Los Angeles-based Sagewise , a startup developing tools and infrastructure for managing disputes and contracts, has raised $1.25M in a seed funding round. The funding was led by Wavemaker Genesis, and also included affiliates of Ari Paul (Blocktower Capital), Miko Matsumura (Gumi Cryptos), Youbi Capital, Maja Vujinovic (Cipher Principles), Jordan Clifford (Scalar Capital), Terrence Yang (Yang Ventures) and James Sowers.

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Silicon Beach Report Aug. 7: Katzenberg’s NewTV Raises $1 Billion

L.A. Business Journal

Katzenberg’s short-form video project raises $1 billion; SpaceX hosting mars landing conference; Nexus Technologies acquires Cal Net

.Net 133
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Samumed Raises $438M

socalTECH

San Diego-based Samumed , a biopharmaceuticals firm focused on treatments for Alzheimer's and other diseases, has raised a huge, $438M funding round, the company said on Monday. Source of the funding was not announced. Samumed says it has now raised $650M in total equity. The pre-money valuation for the funding round was $12 billion, accoridng to the company.

San Diego 100
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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

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.

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Semtech Launches New Product for IoT Market

socalTECH

Camarillo-based Semtech has announced a new product aimed at the automated building systems market, the company said on Monday. Semtech said it has lauched a new solid state relay, the New-Iso Solid State Relay (SSR), which it says is targeted at use in the Internet of Things, including in use in fire alarms, siren drivers, smoke detectors, laser barriers, sensors for automatic doors, and safety and intercom systems.

Product 100
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Virtium Expands Board

socalTECH

Rancho Santa Margarita-based Virtium , which develops solid state drives and other memory products, said today that it has named Steve Litchfield to its Board of Directors. Litchfield is currently CFO and Chief Corporate Strategy Officer at MaxLinear. Litchfield also previously served as an executive at Microsemi Corp., and had been on Microsemi's board, in addition to positions at Banc of America Securities and Toyota Motor Corp.

Product 100

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SpaceX Delivers Indonesian Satellite Into Orbit

socalTECH

Hawthorne-based SpaceX successfully delivered the Merah Putih, an Indonesian communications satellite, into orbit at 1:18 a.m. EDT on Tuesday. According to SpaceX, it delivered the Merah Putih satellite into Geostationary Transfer Orbit (GTO) from Space Launch Complex 40 at Cape Canaveral Air Force Station, using the same Falcon 9 first stage that it used for the prior Bangbandhu Satellite-1 mission in May.

SpaceX 100
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Inseego Raises $19.7M In PIPE

socalTECH

San Diego-based mobility products developer Inseego announced on Monday that it has raised $19.7M in a private placement. The funding came from Tavistock Group, and also included North Sound Partners, one of the company's existing shareholders. As part of the funding, the company said that current CEO Dan Mondor becomes Chairman of its board of directors, replacing Phil Falcone.

San Diego 100
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WndrCo Raises $1 Billion For New Startup

socalTECH

Los Angeles-based WndrCo , the investment firm founded by Jeffrey Katzenberg, said this morning that it has closed on $1 billion in a funding round for a new startup called NewTV. The new startup, being led by Meg Whitman and Jeffrey Katzenberg, said it is creating an entertainment platform that "brings together the best of Silicon Valley and Hollywood".

Startup 100