socalTECH
DECEMBER 18, 2018
In a big exit for Southern California, Carlsbad-based Luxtera , a developer of optical semiconductors used in the high speed networking market, has been acquired by Cisco , in a deal worth $660M in cash and assumed equity options. According to Cisco, it will incorporate Luxtera's technology into its "intent-based" networking portfolio. Luxtera's semiconductors are used in optical transceivers, including 100GbE and 400GbE networks.
L.A. Business Journal
DECEMBER 18, 2018
OSI Systems Inc., an electronic security company based in Hawthorne, has been awarded a federal contract worth up to $450 million to monitor health care patients for the U.S. military.
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socalTECH
DECEMBER 18, 2018
EvoNexus , the non-profit startup technology incubator operator which has locations in both Irvine and San Diego, said today that it has added Bob Genthert, the co-founder of ecoATM, as a Managing Director at EvoNexus in Irvine. Genthert was a co-foudner of ecoATM, which was sold to Outerwall in 2013 for $350M. Genthert also has served at such companies as The Walt Disney Company, Disney Publishing Group, ESPN Magazine, The New Release, and Sky Mobilemedia.
Xconomy
DECEMBER 18, 2018
Seismic, an enterprise software company with ambitious growth plans, has raised $100 million in a Series E financing and added Microsoft chairman John W. Thompson to its board of directors. The venture investment, which the San Diego startup announced Tuesday, is one of only a few so-called mega-rounds—$100 million or more—recorded this year in the region.
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socalTECH
DECEMBER 18, 2018
UK-based augmented reality technology developer Blippar , which had been backed by Qualcomm Ventures, has gone into administration in the UK--their equivalent of bankruptcy--after failing to obtain new funding for the company. According to Blippar, it had been attempting to gain a "small amount of funding" as it was making a shift into the B2B market, but an un-named, existing investor "voted against the additional funding, effectively blocking the investment even if they were not asked to parti
L.A. Business Journal
DECEMBER 18, 2018
SpaceX plans Air Force satellite launch; Maple Media publishes “Skate Jam;” $8 million raised by TicketGuardian
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Xconomy
DECEMBER 18, 2018
A year after steering cancer drug developer Ignyta into a $1.7 billion sale to Roche , Jonathan Lim is back at it again. Ignyta’s former co-founder and head executive has co-founded another biotech in San Diego, Erasca, which also wants to make new cancer therapies. Erasca on Tuesday closed a $42 million Series A round led by Lim’s own investment firm, City Hill Ventures , and Boston-based Cormorant Asset Management.
socalTECH
DECEMBER 18, 2018
Santa Monica-based movie ticketing site Atom Tickets has rolled out its own Amazon Alexa skill, letting Alexa users purchase tickets using Amazon's popular voice assistant. According to Atom Tickets, the new skill lets consumers hear what new movies are playing near them, and also allows users to purchase tickets through integration with Amazon Pay.
Xconomy
DECEMBER 18, 2018
On Monday, Xconomy began our annual look ahead at clinical trials that could define biotech and have profound healthcare effects in the coming year. Today we’re circling back with the rest of the list, which includes studies of drugs for nonalcoholic steatohepatitis, cystic fibrosis, spinal muscular atrophy and more. Read on for the details. [ Editor’s note: Alex Lash, Corie Lok, and Frank Vinluan contributed to these reports. ] Disease area : Nonalcoholic steatohepatitis (NASH) Companies : Inte
socalTECH
DECEMBER 18, 2018
Los Angeles-based dating/hookup app developer Tinder has reportedly fired a number of employees who had joined in a lawsuit against the company , as well as parent company Match Group, over what that group had said was "deliberate lowering" of the valuation of Tinder in order to deprive them of stock options gains. The report, from The Verge, said that the fired employees include vice president of marketing and communications Rosette Pambakian, as well as other employees in the lawsuit.
Xconomy
DECEMBER 18, 2018
One of the leading contenders in the A.I. chip race, Graphcore , announced Thursday it pulled down $200 million in a Series D fundraising round that set its valuation at $1.7 billion. The Bristol, UK-based startup, founded in 2016, has now secured a total of more than $300 million in financing from venture capital firms and other investors including Microsoft and the corporate venture arms of BMW and Dell Technologies.
socalTECH
DECEMBER 18, 2018
Hawthorne-based SpaceX is in the midst of raising another $500M in funding, according to the WSJ, in a funding round to help it bring its constellation of Internet satellites to space. According to the report--citing "people familiar with the fundraising"--the new round values SpaceX at $30.5 billion. The funding reportedly is coming form Baillie Gifford & Co., along with its existing shareholders.
Xconomy
DECEMBER 18, 2018
Cisco has agreed to pay $660 million for Luxtera, a Caltech spinout that makes optical chips for data centers. The semiconductor company, founded in 2001, is based in Carlsbad, CA, a San Diego suburb. Cisco, the San Jose, CA-based tech giant (NASDAQ: CSCO ), said Tuesday that Luxtera’s advanced chips will help it offer its customers faster and better network service performance.
socalTECH
DECEMBER 18, 2018
Venice, California-based Snap is continuing to see turnover in its hardware unit, SnapLab, and has lost its VP of Hardware Development in charge of its Spectacles sunglasses product, the third head of that unit in the past six months. Sahil Sharma, VP of Hardware Development at SnapLab, had only been there since July, when he took over from former Vice President of Hardware Mark Randall.
socalTECH
DECEMBER 18, 2018
San Diego-based Seismic , a developer of sales and marketing software, has raised $100M more in a funding round, which values the company at $1 billion, the company said on Tuesday. The funding round came from Lightspeed Venture Partners, T. Rowe Price, plus General Atlantic, JMI Equity, and Jackson Square Ventures. The startup, led by CEO Doug Winter, develops software used to enable sales and marketing efforts in the enterprise.
socalTECH
DECEMBER 18, 2018
Los Angeles-based electric vehicle charging network operator EVgo has named two new executives to its business development team, the company said on Monday. According to the company, it has named Colin Murchie as Senior Director of Business Development, and Lars Peters as Director of Business Development. Murchie was previously in the solar energy industry, working at such companies as Sol Systems, SolarCity (now Tesla), SunEdison, and the Solar Energy Industries Association.
socalTECH
DECEMBER 18, 2018
San Diego-based Erasca , a biopharmaceuticals startup which says it intends to develop oncology drugs to not just treat, but cure, cancer, has raised $42M in a Series A funding round. The funding was led by City Hill Ventures and Cormorant Asset Management, along other, un-named institutional and individual investors. Erasca was founded by Jonathan E.
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