Tue.Feb 23, 2021

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Archer Aviation Plans Electric Air Taxis in LA by 2024

L.A. Business Journal

Bay Area company Archer Aviation is developing electric aircraft for L.A.'s Urban Air Mobility Partnership.

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AeroVironment Completes $405M Arcturus UAV Acquisition

socalTECH

Simi Valley-based Aerovironment said yesterday that it has completed the $405M acquisition of Arcturus UAV, a designer and manufacturer of high performance, unmanned aircraft systems (UAS). The deal had originally been announced on January 13th. Arcturus UAV supplies its unmanned vehicles to such customers as the United States Special Operations Command (USSOCOM)--the US Special Forces--including being one of six companies being considered for a big, $975M contract for unmanned aircraft systems

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Archer Aviation Plans Electric Air Taxis In L.A. By 2024

L.A. Business Journal

Bay Area company Archer Aviation is developing electric aircraft for L.A.'s Urban Air Mobility Partnership.

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SpaceX Inks $850M Funding

socalTECH

Hawthorne-based SpaceX confirmed a $850M fundraising in a regulatory filing on Tuesday, in an equity funding round which included 69 investors. The fundraising had been rumored to have been in process for the last month or so. The filing said the effort started on February 16th. The round reportedly values the company at $74 billion.

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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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Farm Tech Startup Future Acres Launches

L.A. Business Journal

Future Acres, Inc., a Santa Monica-based food technology company, launched on Feb. 23 with the goal of raising $3 million in a seed funding round.

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DivX Files Another Lawsuit Against Hulu

socalTECH

San Diego-based video software developer DivX has just filed another lawsuit against Los Angeles-based Hulu, alleging patent infringement for its video-streaming and playback technologies. DivX filed the lawsuit in the Ninth Circuit of the California Central District Court. The lawsuit was filed by Robins Kaplan and Brown Rudnick. DivX has at least one existing lawsuit it had filed against Hulu.

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DDN Reports $400M In Revenues In 2020

socalTECH

Chatsworth-based DDN, which develops high performance computing storage and artificial intelligence and data management software, says it had record breaking annual revenues of $400M and "highest ever profitability" in 2020. The company said it saw 52 percent revenue growth from 2018 to 2020. The company specifically said the boost in revenues came as a result of science and research facilities deploying its products as part of the effort to eradicate COVID-19.

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How to Overcome Common Enterprise Network Challenges

Southern California Edison Blog

Enterprises face several network-related challenges that can affect their competitiveness and ability to grow and serve customers. Challenges such as costly network investments, low performance, and tedious management plagues many organizations. However, with the right strategies and expert guidance, enterprises can quickly overcome them and focus on achieving their business goals.

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Zefr Names New Board Member

socalTECH

Los Angeles-based Zefr, which helps marketers measure brand impact and advertising on such platforms as YouTube and Facebook, said this week that it has named a current Bed, Bath, and Beyond exec to its board of directors. The company said that Kristi Argyilan, current SVP of Brand Innovation at Bed, Bath and Beyond and former Target executive, will join its board of directors.

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Archer Aviation aims to launch network of urban air taxis in Los Angeles by 2024

TechCrunch LA

Archer Aviation, the electric aircraft startup that recently announced a deal to go public via a merger with a blank-check company, plans to launch a network of its urban air taxis in Los Angeles by 2024. The announcement comes two months after the formation of the Urban Air Mobility Partnership, a one-year initiative between Los Angeles Mayor Eric Garcetti’s office, the Los Angeles Department of Transportation and Urban Movement Labs to develop a plan for how to integrate urban aircraft i

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Future Acres Targets Agricultural Robotics, Seeks $3M

socalTECH

A new, Santa Monica-based startup, Future Acres, is announcing this morning that it is targeting the agriculture industry with a new robot. The startup--which is crowdfunding its efforts--claims it is developing an agricultural robot which will "optimize workforce efficiency and safety". The company is backed by Wavemaker Partners, and is led by CEO Suma Reddy.

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HONK Signs New Partnership With Driver Technologies

socalTECH

Los Angeles-based HONK, the roadside assistance provider led by Corey Brundage, says it is providing a new, co-branded roadside assistance program for Driver Technologies.