Fri.Jan 12, 2018

SkySpecs Snags $8M to Expand Drone-Powered Turbine Inspection Service

Xconomy

Drone startup SkySpecs announced this week that it has raised an $8 million Series B funding round. The investment in the Ann Arbor, MI-based company was co-led by Germany’s Statkraft Ventures , the Capital Midwest Fund , and UL Ventures , and also included contributions from returning investors such as Huron River Ventures and Venture Investors. A lot has happened since we last caught up with Danny Ellis , SkySpec’s co-founder and CEO, in 2015.

Internet Brands Acquires Avvo

socalTECH

Los Angeles-based Internet Brands said on Thursday that it has agreed to acquire Avvo , which operates an online legal marketplace where consumers can connect with lawyers. Financial terms of the deal were not announced. According to Internet Brands, Avvo will become part of its Legal vertical. Avvo was founded in 2006, and was venture backed by Benchmark Capital, Coatue Management, DAG Ventures, Ignition Partners, Technology Crossover Ventures, and Vulcan Capital.

Silicon Beach Report Jan. 12: Snapchat’s Big Redesign Rated Negatively by 83% of Reviews

L.A. Business Journal

Snapchat’s big redesign rated negatively by 83 percent of reviews; Pentagon refuses to answer questions about failed $1 billion Zuma satellite launch; and The IMDb Show launched

Southern California Edison Plans New EV Transportation Pilots

socalTECH

Southern California Edison said late Thursday afternoon that it has received approval to launch four new, electric vehicle transportation pilots, which will help expand the adoption of electric vehicles. According to Edison,the four pilot projects--worth around $4M each--were approved by the California Public Utilities Commission, and are part of a much larger effort to expand the electrification of cars, buses, medium- and heavy-duty trucks, and industrial vehicles and equipment.

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Acorns Gets Investment From TPG

socalTECH

Irvine-based micro-investing app developer Acorns said this morning that it has received an investment from private equity investor TPG, via TPG's The Rise Fund, which is focused on companies in the social and environmental area. According to Acorns, the investment by TPG's Rise Fund is the first in a fintech company. Size of the investment was not announced by the company.

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