Sat.Jul 17, 2021 - Fri.Jul 23, 2021

Scopely Invests $50 Million in European Gaming Studios

L.A. Business Journal

Culver City-based mobile gaming company Scopely Inc. invested a combined $50 million in three boutique European game studios, the company announced July 19

Are you willing to hire slowly but fire fast?

Berkonomics

Here’s a test of your patience and your willingness to suppress your tendency to avoid conflict or confrontation – all in the same insight.

Coach 156
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10 Startup Execution Steps Highlight The Finish Line

Startup Professionals Musings

Businesses always seem to take longer to succeed than an entrepreneur expects. Seth Godin once said that overnight success in startups takes about six years, and Seth is an optimist. Thus we all look for shortcuts.

Ideas 131

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.

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.

General Motors Invests $71 Million to Launch Pasadena Campus

L.A. Business Journal

Detroit-based General Motors Co. will invest more than $71 million in a 149,000 square-foot campus in Pasadena, the automotive giant announced July 13

Virtual Rocket Pitch + Power Networking

SoCal Tech Calendar

Thursday, July 29, 2021 --.

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Richie Knows Launching Social Network For Gamers In LA

socalTECH

A new startup, Richie Knows, says it is launching new, social network targeted at gamers, in Los Angeles. According to the company, the startup is looking to match up players with new friends and competitors as they travel. The company said it is launching a four-week Alpha test in the San Fernando Valley, as it attempts to help gamers build friendships and connect with fellow players in their local community. The startup was founded by Rich Melcombe.

LA Techstar Class Includes Local Startups

L.A. Business Journal

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

Class 207

Stamps.com to Be Acquired for $7 Billion

L.A. Business Journal

El Segundo-based ecommerce postage company Stamps.com Inc. will be acquired by Thoma Bravo, a Chicago-based private equity firm, for $6.6 billion in cash, the companies announced July 9

7 Accelerated Growth Strategies For Disruptive Change

Startup Professionals Musings

To build a startup, entrepreneurs need a laser focus on providing an innovative solution to a real problem. Once they achieve that initial traction, the focus needs to change for quicker growth.

5 Keys To Spending Your Time On The Right Work Items

Startup Professionals Musings

If you define your self-worth as an entrepreneur by how busy you are, it’s time to find another lifestyle. We all know people who are extraordinarily busy, but never seem to accomplish anything.

8 Principles For Better Delegation And Work Control

Startup Professionals Musings

In my role as a business advisor, a complaint I often hear from owners and professionals alike is that there is just not enough time to get everything done.

Coach 106

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.

Xponential Fitness Prices IPO, Starts Trading Today

socalTECH

Irvine-based fitness brand owner Xponential Fitness, which owns such fitness brands as Club Pilates, Pure Barre, and YogaSix, said last night that it has priced its initial public offering (IPO). The company said it is offering up 10,000,000 shares of its Class A stock at a price of $12.00 per share, and will start trading on the New York Stock Exchange today. The company is trading under the symbol XPOF.

Capsida Biotherapeutics Opens New Facility In Thousand Oaks

socalTECH

Thousand Oaks-based biotech company Capsida Biotherapeutics says it has opened up a new, 15,000 square-foot facility in Thousand Oaks for its gene therapy manufacturing efforts. The company is developing targeted adeno-associated virus (AAV) gene therapies for patients with debilitating and life-threatening genetic disorders. The company says that building its own manufacturing facility will help it eliminate dependence on ontract manufacturing.

Immix Biopharma Files For IPO

socalTECH

Los Angeles-based biopharmaceuticals startup Immix Biopharma said it has filed for an IPO, and has submitted a confidential draft registration statement/S-1 with the Securities and Exchange Commission. Details on that IPO have yet to be announced. Immix Biopharma is developing treatments for cancer. The company's investors include Mesa Verde Ventures.

Zevia Hits Market Via IPO

socalTECH

Los Angeles-based soda company Zevia has its IPO on Thursday, launching itself onto the public markets on the New York Stock Exchange at ZVIA. The company priced at $14.00 per share on Wednesday night, offering up 10,700,000 shares to buyers. The price was at the midpoint of its originally estimated $13.00 to $15.00 range. Zevia sells zero calorie soda to the consumer market, and uses stevia instead of sugar as a sweetener. The company is backed by Caisse de depot et placement du Quebec (CDPQ).

BayWa r.e. Launches New Brand For Acquired Company

socalTECH

Irvine-based BayWa r.e., a renewable energy developer and services provider, says it has launched a new brand, BayWa r.e. Power Solutions Inc. The new brand is a new name for Enable Energy Inc., which BayWa r.e. acquired in September. The new company is focused on solar and battery energy storage systems for the U.S. commercial, industrial, and utility sectors. BayWa r.e. Power Solutions is active in Hawaii, California, plus the Northeast U.S.

Broadvoice Acquires GoContact

socalTECH

Los Angeles-based voice, unified communications, and SIP trunking provider Broadvoice said on Tuesday that it has acquired GoContact, a Portugese provider of contact center services. Financial terms of the acquisition were not announced. Broadvoice says that GoContact has sales and service operations in Portugal, Spain, Morocco, Angola and Colombia. The deal will expand the company's operations in Europe, Africa, and Latin America. Broadvoice is led by CEO Jim Murphy.

Faraday Future Hits Public Markets Via SPAC

socalTECH

Los Angeles-based Faraday Future is now a publicly traded company, after a successful acquisition by a special purpose acquisition company (SPAC) called Property Solutions Acquisiton Corp., the company said on Wednesday afternoon. Faraday Future will begin trading today under the ticker symbols FFIE and FFIE.WS.

Sketchy Names New Exec, Advisors

socalTECH

Los Angeles-based education technology startup Sketchy is ramping up its hiring efforts, saying today that it has added a number of new executives and advisors to the company.

Coach 109

Bonfire Ventures Extends Network With Angel, Seed Investment Effort

socalTECH

Los Angeles-based venture capital investment fund Bonfire Ventures is looking to extend its network--and make more angel, pre-seed, and seed investments--through a new program is is calling Bonfire Firestarters. According to Bonfire, it has partnered with six individuals and five early-stage fund managers who the firm will be using to make investments for the fund.

Invest 109

MemComputing Lands SBIR Contract

socalTECH

San Diego-based high performance computing technology developer MemComputing says it has scored a Phase I Small Business Innovation Research (SBIR) contract from the National Aeronautics and Space Administration (NASA). Size of that SBIR contract was not nnounced. According to the company, the contract will go towards identifying applications where the company's technology can be used to accelerate NASA's supercomputing workloads for large-scale numerical simulation.

Fabric8Labs Gets $19.3M

socalTECH

San Diego-based Fabri8Labs, a company developing metal additive manufacturing technology, said it has raised $19.3M in a Series A funding round. The funding was led by Intel Capital, and also included Lam Capital, TDK Ventures, SE Ventures, imec.xpand, Stanley Ventures, and Mark Cuban. According to the company, it is developing a process which fabricates complex metal parts at the atomic level.

HMBradley Switches Accounts To Invite Only

socalTECH

Santa Monica-based fintech startup HMBradley, which offers up an online-online checking account which pays up to 3.50% annual percentage yield (APY), says it is switching its accounts to be "invite only", and is now looking for additional banking partners. According to the company, it has now amassed more than $375M in deposits in the 15 months since it launched.

FloQast Raises $110M

socalTECH

Los Angeles-based accounting software developer FloQast said this morning that it has raised $110M in its Series D funding round, with its latest valuation putting the company into unicorn territory, at $1.2 billion. The funding was led by Meritech Capital, and also included Insight Partners, Redpoint Ventures, Sapphire Ventures, Coupa Ventures, Polaris Partners, and Norwest Venture Partners. The company develops financial close management software, used for financial reporting.

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

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

Techstars LA Draws International Companies For 2021 Class

socalTECH

Techstars LA, the startup accelerator headed up by Matt Kozlov, announced its 2021 class this week, drawing an international group of twelve new companies to its startup accelerator in Culver City.

Class 109

Halo Technology Buys ARIA Technologies And Solid Optics

socalTECH

Irvine-based Halo Technology Group, a manufacturer of fiber optic transceivers and high speed cabling, said last week that it acquired two companies, Aria Technologies and Solid Optics. halo technology merger acquisitio aria technologies solid optics hardware networking

HyperX Renews Sponsorship With Female Gaming, Esports Streamer Valkyrae

socalTECH

Fountain Valley-based HyperX says it has renewed an existing sponsorship deal it has with Valkyrae, a female gaming streamer. Rachell "Valkyrae" Hofstetter will serve as a brand ambassador and HyperX Hero. Financial details of the sponsorship renewal were not announced. Valkyrae apparently has been full time streamer since 2016, and is on Twitch and YouTube. HyperX has a number of sponsorships with athletes, e-sports celebrities, gaming streamers, and others.

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Kite Sells Facility In MD To BioNTech

socalTECH

Santa Monica-based Kite, which is now owned by Gilean Company, says it has sold its R&D and manufacturing facility in Gaithersburg, MD, to. kite pharmaceuticals biontech manufacturing biotech lifescience

Faraday Future Launches App For Future Car Buyers

socalTECH

Los Angeles-based Faraday Future, the developer of electric vehicles, said it has launhed a new app, which it says it will eventually let users control the vehicle systems of its upcoming vehicles. In the meantime, the app allows users to configure and reserve the company's upcoming, first vehicle, the FF 91. The company said the app runs on both iOS and Android.