Sat.Feb 08, 2020 - Fri.Feb 14, 2020

Hyundai taps EV startup Canoo to develop electric vehicles

TechCrunch LA

Hyundai Motor Group said it will jointly develop an electric vehicle platform with Los Angeles-based startup Canoo, the latest startup tapped by the automaker as part of an $87 billion push to invest in electrification and other future technologies.

Warning: Contractors must really be independent!

Berkonomics

Our challenge is getting more difficult. How many of us have “hired” independent contractors over the years, a bit worried over the gray area between employee and contractor as defined by the IRS? Or separately the State of California?

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10 Manageable Risks That An Entrepreneur Should Take

Startup Professionals Musings

There is an old saying that good lawyers run away from risk, while good businessmen run towards risk. Entrepreneurs see “no risk” as meaning “no reward.” In reality, all risks are not the same.

Seqster Gets Investment From Takeda

socalTECH

San Diego-based Seqster , which develops software used f[link] health data management, said today that it has received an investment from Takeda Pharmaceuticals. Size of the investment was not announced. According to Seqster, it will use the new funding to accelerate adoption of its technology, which is used for managing clinical trials and patient engagement. Seqster is led by Ardy Arianpour.

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Max Q: A SpaceX spin-out sounds great

TechCrunch LA

Max Q is a new weekly newsletter all about space. Sign up here to receive it weekly on Sundays in your inbox. Two rocket launches were set to take off Sunday , including one from Wallops Island in Virginia and another from Cape Canaveral in Florida.

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Star Gazer

L.A. Business Journal

Steve Isakowitz is president and chief executive of Aerospace Corp., the nation’s only federally funded research and development center focused on aerospace

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AdQuick Finds $6M For Out Of Home Advertising

socalTECH

Los Angeles-based AdQuick , a new startup which is developing software tools to help enable out of home (OOH) advertising, has raised $6M in its Series A, the company said this week. The funding was led by Initialized Capital, and also included WndrCo, Shrug Capital, The Todd & Rahul Angel Fund and Michael Kassan's MediaLink.

Los Angeles-based ‘deep tech’ investment firm Riot Ventures is raising a $75M fund

TechCrunch LA

Riot Ventures , the Los Angeles-based, early-stage and deep technology investment firm is going out to market to raise a $75 million second fund to finance the development of startups in LA and beyond, according to fundraising documents viewed by TechCrunch.

Tinder Boosts Earnings for Parent Match Group

L.A. Business Journal

Dating app owner Match Group reported an estimated 16% annual increase in net income in fiscal 2019, due largely to Tinder, its highest-performing subsidiary

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6 Team Members Who Will Make Your New Venture Robust

Startup Professionals Musings

In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. That’s why investors say they invest in people (bet on the jockey, not the horse), rather than the idea.

Amazon's Bezos Spends $165M For Beverly Hills Mansion

socalTECH

In the latest move by a tech billionaire into the neighborhood, Jeff Bezos , the founder of Amazon , has paid a record $165M for a mansion in Beverly Hills. The mansion had previously been owned by David Geffen, who had owned the property since 1990.

4 Things That Could Help Make Your Startup Business a Success

AllTopStartups

Perhaps you have dreams of starting your own business, or maybe you have recently set up and want to ensure that your business is heading in the right direction. From… The post 4 Things That Could Help Make Your Startup Business a Success appeared first on AllTopStartups.

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GumGum Gains $22 Million

L.A. Business Journal

Artificial intelligence and advertising firm GumGum raised a $22 million Series D funding round from existing investors

5 Strategies For Startup Partnering To Win Long Term

Startup Professionals Musings

Business partnerships have traditionally been agreements to drive more transactions than either company could do alone.

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Semtech Gets Design Win In Taiwan

socalTECH

Camarillo-based Semtech , a developer of analog and mixed signal semiconductors, reported a design win today, with Taiwanese company YUAN High-Tech Development Co., According to Semtech, YUAN has integrated its technology into a new line of Software Defined Video over Ethernet (SDVoE) products. Semtech did not announce shipment volumes and financial impact of that win. The new products are used in creating video walls and other AV display applications. READ MORE>>.

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4 Benefits of Using a Managed Network Services Provider

Southern California Edison Blog

It can be a significant time and financial investment to run and maintain a network.

Eli Lilly, Roche Drugs Fail to Move Needle in Genetically Driven Alzheimer’s

Xconomy

Two experimental drugs from Eli Lilly and Roche have failed a clinical trial testing them as treatments for a form of Alzheimer’s disease caused by certain genetic mutations, the companies reported Monday.

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7 Business Leadership Keys To A Thriving New Venture

Startup Professionals Musings

One of the realities of being an entrepreneur is that you have to keep learning and changing to survive. Everyone on the startup team knows there is no buffer, and no personal isolation from impact based on your job description that can save you.

Skyworks Backs New Wi-Fi 6E Standard

socalTECH

Irvine-based analog semiconductor developer Skyworks Solutions says it will support the new, Wi-Fi 6 standard, the new next generation wireless technology being established by the Wi-Fi Alliance. According to Skyworks, it is working with the Wi-Fi Alliance to develop its own Wi-Fi 6E products. Those new products operate in the 5.925 to 7.125 GHz frequency range, and are in addition to the current use of 2.4Ghz and 5Ghz bands used for Wi-Fi today.

JenaValve Finds $50M Funding

socalTECH

Irvine-based JenaValve Technology , which develops aortic valve replacements, said last week that it has raised $50M in a financing round. The funding was led by Bain Capital Life Sciences, and also included existing investors Andera Partners, Gimv, Legend Capital, NeoMed Management, RMM, Valiance Life Sciences and VI Partners. As part of the funding, Bain Capital's Andrew Hack, MD, Ph.D., has joined the company's board of directors.

Virgin Galactic Moves Spacecraft To New Mexico

socalTECH

Virgin Galactic , which is developing vehicles designed to take tourists to space, has relocated its SpaceShipTwo Unity spacecraft to its new launch site, in New Mexico, as the next step along its path to being able to launch its spacecraft into space.

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Inseego Targets Businesses With 4G LTE Device

socalTECH

San Diego-based wireless device maker Inseego is targeting the business market with a new product, which uses 4G LTE to provide phone service to businesses, the company said on Thursday. According to Inseego, its new product, the BPC100, provides connectivity for voice and data and i ideal for mall and medium businesses, along with enterprise users. The new product is available from Verizon Enterprise Sales.

A Conversation With James Borow, Pepper Financial

socalTECH

Our interview this morning is with James Borow , the co-founder of Pepper Financial (www.trypepper.com), a startup which is creating a new set of tools to help businesses grow smarter. The companywhich is being very quiet about what it is working onwas founded by a group of former Snap executives, and is venture backed by Upfront Ventures, and which also included Lerer Hippeau, Manta Ray, and angels.

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Mavenlink Creates New Advisory Board

socalTECH

Irvine-based Mavenlink , which develops business process management software and related tools for services businesses, said on Thursday that it has created a new, Executive Advisory Board at the company. The board includes Keith Carlson (CEO of Growth Stage), Ed Marshall (Chief Product Officer, Ambra Health), and Walt Weisner (Chief Customer Officer of Customer Care, BlueJeans Network). MavenLink's backers include Carrick Capital Partners and Goldman Sachs Growth Equity. READ MORE>>.

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Soylent Swaps Out CEO

socalTECH

Los Angeles-based food replacement and nutrition products maker Soylent announced this week that it has swapped out its CEO, Bryan Crowley , and replaced him with its CFO, Demir Vangelov. According to Soylent, the move is part of an effort by the company to "re-focus on our core products" and to help it improve its current product line and bring "some truly innovative ideas off the shelf and into the market".

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GumGum Gets $22M More For Advertising AI Software

socalTECH

Santa Monica-based GumGum , which develops artificial intelligence software for the advertising and media market, has raised $22M more in a funding round, the company said on Thursday. According to the firm, the new $22M funding came from Morgan Stanley Expansion Capital, NewView Capital, and Upfront Ventures. All three of those investors are existing investors in the company. GumGum is led by CEO Phil Schaeder.

Smith Micro Buys Business From Circle Media Labs

socalTECH

Aliso Viejo-based Smith Micro Software says it has acquired the operator business of Circle Media Labs , a developer of parental control software. Smith Micro said the asset deal was worth approximately $13.5M in cash, and included customer contracts and a perpetual software license. The company says it the operator business is expected to report 2019 revenues of $4M. Circle Media Labs' operator business includes two key customers, T-Mobile USA and Sky, according to Smith Micro.

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Karma Automotive Chops 60 In Irvine

socalTECH

Irvine-based electric vehicle maker Karma Automotive is laying off 60 more workers in Irvine, as the startup continues to shed workers, according to a Worker Adjustment and Retraining Notification Act (WARN) report issued on Wednesday. The new cuts come on top of an earlier layoff involving 200 workers at the company. Karma said in a statement, that it was "necessary to realign resources in some business functions" saying it wants to go beyond "just creating and selling luxury electric vehicles."

Headspace Raises $93M In Series C For Mindfulness Tools

socalTECH

Santa Monica-based Headspace , which develops mindfulness and meditation software and tools, has raised $93M in a Series C funding, the company said on Wednesday morning. The company said the round was led by blisce/, and also included Waverly Capital, Times Bridge, The Chernin Group, Spectrum Equity and Advancit Capital. The company said the funding was split between $53M in equity, plus $40M in debt capital from Pacific Western Bank.

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Parchment Acquired By Brentwood Associates

socalTECH

Parchment , a company which provided records management, transcripts, grades, and other information for the K-12 and other markets--and which has its roots in the LA area--has been acquired by Brentwood Associates. Financial terms of the acquisition were not announced. Parchment got its start in Los Angeles as Docufide, a startup offering up handling of high school transcripts for colleges and university applications; Docufide was venture backed by the Tech Coast Angels and Pasadena Angels.