Mon.Jan 03, 2022

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Fintech Launches Crypto Bank Account for Hispanics

L.A. Business Journal

A West Hollywood-based fintech announced the launch of a banking program Dec. 20 aimed at building Hispanic wealth through stakes in the crypto sector.

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TuSimple Sends Fully Autonomous Semi 80 Miles, Without A Human On Board

socalTECH

San Diego-based autonomous driving company TuSimple reports that it has sent its first, fully autonomous semi--without even a safety driver in the truck--80 miles, going from Tucson, Arizona to Phoenix. According to TuSimple, its truck made its 80 mile run on December 22nd, traveling from a railyard in Tucson, navigating surface streets and a highway at night, and arrived at a high volume distribution center in Phoenix.

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Solar Energy Company Heliogen Set for New Year’s Eve Debut on NYSE

L.A. Business Journal

As the clock was running out on 2021, L.A. County was poised to get another publicly traded company: Pasadena-based solar technology firm Heliogen Inc.

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Seven Tech Startups To Watch Out For In 2022

Tech.Co

Well, another year has come and gone, and while we're yet to leave the pandemic behind, it has led to a record number of small businesses starting up. With all these businesses forming, it's possible that some future household names are finding their footing as we speak. Many of these businesses will take a while to gain some momentum, but there are already some fresh faces on the tech scene that are worth keeping your eyes on as the next year progresses.

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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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Clean Tech Startup Mote Unveils Plans for $100M Carbon Capture Plant

L.A. Business Journal

There’s a new local entrant in the global decarbonization race: Culver City-based cleantech startup Mote Inc.

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6 Hiring Principles To Grow The Best New Venture Team

Startup Professionals Musings

Startup investors tell me they invest in a new venture with a higher caliber of people, rather than the product or service, and I agree. In my role as a business advisor, I see successful businesses most often emerging from great teams rather than great products. Yet I find the people building teams are usually product experts, often with no experience in team building.

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ImmunityBio Links With Amyris On COVID-19 Vaccines

socalTECH

Culver City-based ImmunityBio and Emeryville-based Amyris said today that the two companies are in a joint venture to commercialize a COVID-19 vaccine. Financial details of the deal were not announced. The two said they will combine their vaccine technology and manufacturing capabilities, with the target of completing human trials and delivering vaccines in 2022.".

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RBB Bancorp Buys Gateway Bank for $23 Million

L.A. Business Journal

Westlake-based RBB Bancorp announced its entry into the San Francisco Bay Area Dec. 28 with the purchase of Gateway Bank F.S.B. in Oakland, a deal valued at approximately $22.9 million.

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CalAmp Shuffles Sales Head

socalTECH

Irvine-based CalAmp, which is best known for its LoJack line of automotive tracking products, but also has a number of other asset tracking products, said over the holidays that its SVP and Chief Revenue Officer (CRO), Arym Diamond, has left the company. The company said that Maurizio Iperti, President of EMEA for CalAmp will step into an interim role leading global sales operations, while it runs a search for a new sales head.

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Dave Inc. to Make Nasdaq Debut in January

L.A. Business Journal

Dave Inc., a West Hollywood-based fintech and banking app company aimed at “leveling the financial playing field,” will go public on the Nasdaq under the tickers DAVE and DAVEW in early 2022.

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EcoFlow Hits $200M In Sales

socalTECH

Los Angeles-based EcoFlow, the developer of portable power stations, says it reached $200M in annual revenues in 2021, up 275% from the year before. The company is backed by Sequoia's China Fund, Hillhouse, and CICC, and received $100M in a Series B investment back in June of 2021. The company said it more than tripled its sales in 2021, the second consecutive year for the growth.

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