Tue.Sep 17, 2019

Fair Obtains $500 Million Credit Facility

L.A. Business Journal

Car leasing startup Fair secured a $500 million loan from Mizuho Bank in the company's third line of credit since July

Steereo Finds Funding For Ridesharing Music Discovery

socalTECH

Los Angeles-based Steereo , which pays ridesharing drivers to stream new music to their riders, has raised a round of funding, which came from Moonshots Capital, Halogen Ventures, Moving Capital, Quake Capital, AET Fund, Beresford Partners, Fall Creek Capital, and Hawke Ventures. Financial details of the funding were not announced. Steereo was co-founded by Anne Kavanaugh and Jennifer Cullen. Steereo's mobile music platform helps connect music fans with new music.

Amplyx Inks Novartis Deal for Another Compromised-Immune System Drug

Xconomy

Amplyx Pharmaceuticals, which is testing a new type of drug against life-threatening infections acquired by patients with compromised immune systems, has acquired the rights to another drug that could also be of use in treating those with limited ability to fight off sickness.

Citadel Defense Wins Contract From U.S. Air Force

socalTECH

San Diego-based Citadel Defense , which develops counter-drone technology for the military, government, and commercial market, reported today that it has scored a contract from the U.S. Air Force (USAF), where its technology will be used to detect and adaptively jam any drone swarms. Financial details of that contract were not announced. Citadel says its counter drone technology was "extensively validated" over 18 months by the The U.S. Department of Defense and Department of Homeland Security.

Automated Trucking Company TuSimple Adds $120M More From Investors

Xconomy

UPS, the global package delivery giant, took a minority stake this summer in TuSimple, a self-driving trucking company, but didn’t reveal financial details. On Tuesday, the San Diego startup revealed that investment was part of an extended Series D financing round that now totals $215 million. In February, the company said it had raised $95 million in a round led by Sina (NASDAQ: SINA ), the Chinese tech company that runs the social media site Weibo, which is analogous to Twitter.

Boingo To Power New Commercial Services For Citizen Broadband Radio Service

socalTECH

Los Angeles-based Boingo Wireless , which provides distributed antenna system (DAS), small cells and Wi-Fi services--including running its own network of Wi-Fi hotspots--says it is expanding its efforts to the new, Citizen Broadband Radio Services (CBRS). The new 3.5 Ghz radio service -- which runs at similar frequencies to new 5G wireless networking standards --was just approved by the FCC.

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VIZIO Adds Expanded Alexa Support On TV Line

socalTECH

Irvine-based HDTV maker VIZIO said today that it has added new support for Amazon's Alexa , across its line of VIZIO SmartCast TVs. According to VIZIO, it has bolstered the number of features using Alexa on its line of TVs, going from the ability to power TVs on and off and to change inputs, programs, and more--to also add ability to search for movies and shows by title, genre, or cast members. VIZIO said the new features will work even on existing TVs which date back to 2016.

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Latinx21 Aims At Video Sharing For Latino Community

socalTECH

A new, Los Angeles startup, Latin21 , said this morning that it has launched a new, online community dedicated to "celebrating and sharing the Latinx experience". According to the company, it will launch this weekend, and is hoping to become "the premiere network where bilingual, bicultural Latinx can engage online." The new startup is led by founder and Ceo DInah Perez.

Tips 109

Biproxi Gets $10M For Commercial Real Estate Data Startup

socalTECH

San Diego-based Biproxi , a new startup developing a commercial real estate data platform, has raised $10M in a seed funding, the company announced on Tuesday morning. According to Biproxi, the funding was led by Greycroft, and also included Newmark Knight Frank, RPM Ventures, and the National Association of Realtors.