Tue.Jul 20, 2021

LA Techstar Class Includes Local Startups

L.A. Business Journal

Several local startups are among the 2021 class for Techstars' Los Angeles Accelerator

Class 130

Moonshots Capital Raises $36M In Second Fund

socalTECH

Los Angeles-based venture capital investor Moonshots Capital announced on Tuesday morning that it has raised $36M in its second fund, Moonshots Fund II. The venture investment firm--led by Kelly Perdew and Craig Cummings--said the new fund will continue to go to late Seed and Series A investments.

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Wugen Takes $172M For Tumor Treatments

socalTECH

San Diego-based Wugen, a biotechnology company which is developing treatments for solid tumors, recently annoucned a $172M, Series B funding round. The company--which says it licensed its technology from Washington University in St.

Platinum Equity Acquires Unical Aviation

socalTECH

Los Angeles-based private equity investor Platinum Equity said this week that it has signed a definitive agreement to acquire Unical Aviation, a provider of aircraft parts and components to the global commercial aerospace market. Financial terms of the acquisition were not announced. Platinum Equity acquired Unical Aviation from that firm's founders. The companies said the deal includes Unical Aviation, Unical MRO, Unical 145 and Unical Aero, but does not include Unical Defense Inc.,

Equity 109

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.

Qmerit Scores Investment From GIC For EV Charging Efforts

socalTECH

Irvine-based Qmerit, which installed electric vehicle charging stations in residential and fleet environments, has scored an investment from GIC, Singapore's sovereign wealth fund, according to Qmerit. Size of the investment was not announced. According to Qmerit, the investment by GIC came alongside an investment from earlier investors Lime Rock New Energy and Schneider Electric. Qmerit spun out of ABM in 2016.

Invest 109

MSBAI Snags $1M Contract From USAF

socalTECH

Los Angeles-based startup MSBAI, which is developing artificial intelligence tools for assisting in engineering reports it has received a $1M US Air Force grant. The company said it was selected for an AFWERX Small Business Innovation Research (SBIR) Phase 2 contract, which will go towards adapting its GURU cognitive AI assistant to support the Air Force. MSBAI was part of the Air Force Techstars 2020 program.