Sat.May 29, 2021 - Fri.Jun 04, 2021

Can you stretch the truth to make your point?

Berkonomics

How easily it happens…. Sometimes it is easy for someone to make a statement that, in the enthusiasm of the moment or to make a point, crosses the line between fact and fiction. Sometimes it seems to you to be just an unimportant little stretch of the facts.

Red 6 Raises $30 Million For AR Military Training

L.A. Business Journal

Aerospace company Red 6 raises $30 million in a Series A round to fund its augmented reality military training technology

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7 Ways Academic Connections Can Assist A New Venture

Startup Professionals Musings

An underutilized, but valuable resource, every startup should investigate is a formal or informal connection to your alma mater, including any local university.

Red 6 Lands $30M In Series A Funding

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Santa Monica-based Red 6, which is developing augmented reality (AR) technology used to provide air combat training, said today that it has raised $30M in its Series A funding round. The company said the funding gives it a $130M post-cap valuation. The funding was led by Snowpoint Ventures, an existing investor in Red 6. According to Red 6, Snowpoint contributed $25M of the round, with an additional $5M from other investors. Red 6 is led by founder and CEO Daniel Robinson.

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.

Boingo Wireless Acquisition Is Completed

L.A. Business Journal

Digital Colony Management has completed its acquisition of wireless internet provider Boingo Wireless Inc

Boingo Wireless Acquisition Is Completed

L.A. Business Journal

The acquisition of wireless internet provider Boingo Wireless has been completed by Digital Colony Management

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Whatnot Raises $50 Million

L.A. Business Journal

Marina Del Rey-based Whatnot Inc. raised $50 million in Series B funding to grow its staff and expand its marketplace of collectible fan memorabilia

LA500 Q&A: Activision’s Bobby Kotick on Pandemic Moves and the Power of Franchises

L.A. Business Journal

Amid a global pandemic, Activision Blizzard shifted to a remote work model to facilitate the release of new games and the operation of two esports leagues

8 Keys To Developing Exciting Business Relationships

Startup Professionals Musings

As an advisor to new businesses, I’m a strong believer that no one succeeds alone in business.

Linksys Names New CEO

socalTECH

Los Angeles-based Linksys said on Friday that it has named a new CEO. According to the company, Harry Dewhirst, who had been Vice President at the company overseeing product and business development, will step into the role. Dewhirst was previously co-founder of advertising technology company Amobee, and also served as President of Blis, and once was a venture investor, running Ballpark Ventures.

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Whiplash Expands In Ohio

socalTECH

Los Angeles-based omnichannel logistics provider Whiplash, which provides fulfillment, warehouse, and other services to the e-commerce and other industries, says it is expanding with a second fulfillment center, in Columbus, Ohio. The company said the new, 261,400 square foot facility was opened due to a surge in consumers pivoting towards home delivery offerings.

Triller Gets Broadcast Rights With New Sports League

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Los Angeles-based social media app developer Triller says it has inked a deal with a new sports league, BIG3, the creator of the FIREBALL3 sport. According to Triller, it will join CBS Sports and an official media partner for BIG3's fourth season, and will air games on its streaming platform. The company said the deal covers airing 30 hours of exclusive live games. Financial details of the deal were not announced. Triller operates a social media app which competes against TikTok.

ImaginAB Gets $12.8M

socalTECH

Los Angeles-based ImaginAb, a biotechnology company which is developing radiopharmaceutical imaging and therapy agents, has raised $12.8M in a funding round, the company said on Thursday. According to the company, the funding was led by Adage Capital and Cycad Group and also included new investors Norgine Ventures and Theravance Respiratory Company, along with current investor Jim Pallotta of the Raptor Group. ImaginAb is led by CEO Ian Wilson.

NEOGOV Finds Funding From Carlyle, Warburg Pincus

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El Segundo-based human capital and policy management software developer NEOGOV, which is led by Shane Evangelist, has scored a round of funding from private equity giants The Carlyle Group and Warburg Pincus. The size of the investment--described as "significant"--was not announced. Warburg Pincus had an existing stake in NEOGOV.

Ring Tightens Privacy Over Law Enforcement Requests

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Santa Monica, California-based Ring, which is part of Amazon, is significantly tightening how it shares videos from its users with law enforcement, in a move which should please privacy advocates. According to Ring, it will change it will now require a valid case number and department contact information on requests, with specific law enforcement requests coming through Ring's Neighbors app, meaning that Ring users in the US will not receive direct emails from police and fire departments.

Kofax Acquires PSIGEN

socalTECH

Irvine-based document automation systems provider Kofax said this week that it has acquired PSIGEN Software, a developer of document capture, content management and workflow automation software. Financial details of the transaction were not announced. According to Kofax, the deal will add to its existing document capture software and solutions. PSIGEN's flagship software is PSIcapture, used for document capture in such areas as quote-to-cash, accounts payable and accounts receivable.

EnGenius Links Guest Wireless, Facebook or Instagram

socalTECH

Costa Mesa-based wireless networking hardware provider EnGenius says it has launched a new feature for its products, which allows small- and medium-sized businesses to extend their existing Wi-Fi to its customers, via a link with Facebook or Instagram. According to EnGenius, the link allows businesses to integrate their Facebook page and Instagram profile when customers connect to a businesses's Wi-Fi network. engenius guest wireless wifi facebook instagram integration

DRINKS Names Execs

socalTECH

Los Angeles-based DRINKS, a startup which is developing software which helps companies sell alcoholic beverages online via e-commerce, has named two executives, according to the company. According to the company, it has named Amber Roberts as Vice President of Enterprise, and Blake Hunter as Senior Director of Data Science. Roberts was most recently Head of Marketplace at Kroger, where the company said she spearheaded the establishment of its digital marketplace model.

Boingo Wireless Now Owned By Digital Colony

socalTECH

Los Angeles-based Wi-Fi network and distributed antenna systems provider Boingo Wireless is now officially owned by private equity investor Digital Colony, the two said on Wednesday. The deal valued Boingo at approximately $854M. Digital Colony paid $14.00 in cash per share of Boingo common stock. The deal takes Boingo off the public markets, where it had been trading as WIFI on the NASDAQ.

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Specular Theory Snags $4.5M For VR Training For Air Force

socalTECH

Venice Beach-based Specular Theory, a developer of virtual reality training software for the U.S. Air Force, says it has received $4.5M in a Small Business Innovation Research (SBIR) Phase III contract. According to the company, the funding will go towards expanding its immersive training products supporting U.S. Air Force B-52, C-17 and KC-135 aircrew training over the next three years. The company's VR software is used for training crews on performing air refueling operations.

NEXT Energy Technologies Snags $13.4M In Series C

socalTECH

Santa Barbara-based NEXT Energy Technologies, a developer of a transparent, photovoltaic coating which turns commercial windows into energy producing solar panels, has raised $13.4M in a Series C funding. The funding was led by Alon Blue Square Israel, Ltd. and also included GEAR Innovation Network, and Viracon, an architectural glass fabricator, as well as family office Rincon Advisors. Daniel Emmett is CEO of NEXT. panel solar coating photovoltaic transparent technologies energy next

Rocket Lab Approved To Resume Launches Again

socalTECH

Long Beach-based Rocket Lab has been approved to resume launching its rockets into space, after a brief pause following a failed launch three weeks ago. Accordign to Rocket Lab, the Federal Aviation Administration (FAA) has given it permission to resume launches. Rocket Lab says it is continuing a "rigorous internal review" into what it calls "the anomaly" which caused the loss of the rocket and payload on May 15th. The launch would have been its 20th launch.

URB-E, Packit Fresh Link On Refrigerated Delivery

socalTECH

Los Angeles-based URB-E, which is developing a delivery network based on compact containers delivered via small, electric vehicles, says it has linked with PackIt Fresh, a developer of reusable, freezable totes that keep food at safe temperatures for up to 24 hours. Financial details of the relationship were not announced.

iLife Lands $4M For Life Insurance Sales

socalTECH

Playa Vista-based iLife, a startup which is developing tools to help life insurance agents set up their own, branded "digital insurance agency", has raised $4M in a seed funding round, according to the company. iLife said the funding was led by Foundation Capital, and also include AME Cloud Ventures and Cherubic Ventures. iLife was founded and is led by CEO Nelson Lee.

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FastSpring Expands Platform

socalTECH

Santa Barbara-based software developer FastSpring--best known for its e-commerce software tools--says it is expanding its offerings, and will offer up support to B2B, software-as-a-service and downloadable software companies with sales team. The company said the new expansion includes digital invoicing products, and other enhancements that allow companies consolidate their payments, subscription management, recurring billing, localized pricing, and account and order management into one place.

Mirati Therapeutics Gets $65M In Deal With China's Zai Lab

socalTECH

San Diego-based oncology therapeutics developer Mirati Therapeutics said this morning that it has received $65M in an upfront payment, as part of a deal with Chinese company Zai Lab. According to the to companies,t he two have entered into a collaboration to develop and commercialize Mirati's Adagrasib in Greater China. Mirati will receive $65M upfront, with up to approximately $273M in potential milestone payments and royalties. Charles M. Baum, M.D., Ph.D.,

Impervious.ai Finds Funding

socalTECH

Los Angeles-based Impervios Technologies, a developer of a software layer built on Bitcoin to enable "cryptographically secure, streaming, and censorship-resistant applications", said on Friday that it has raised a pre-seed financing. Size of the funding was not announced. The round was led by Trammell Venture partners, and also included Strategic Cyber Ventures, Ten-31, Deflation.vc, and Mike Doniger, Former Director of Research at Citadel Fundamental Strategies.

Amazon's New Sidewalk Shares Your Internet With Neighbors

socalTECH

A new effort by Amazon to extend the reach of the cameras, lights, motion sensors, and other devices created by Santa Monica-based Ring will share a portion of your Internet with neighbors, according to Amazon. Amazon said its new service, Amazon Sidewalk, is a shared network to help devices like Amazon Echo devices, Ring Security Cams, outdoor lights, motion sensors, and Tile trackers work better.

6 Key Rules To Stay Competitive In The Digital World

Startup Professionals Musings

In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global.

Search Engine Ranking Can Make Or Break Your Business

Startup Professionals Musings

Probably every one of you who has a business and a website have been approached through email or personal contact, and asked to spend money on paid search results (appear on the first page of search results, despite low SEO rank).

Master Ventures Announced $30M Blockchain VC Fund

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Los Angeles-based Master Ventures said today that it has launched a new, $30M venture capital fund, called the Master Ventures Polkadot VC Fund. According to the company, the funding will support and finance Blockchain and cryptocurrency projects which are related to the Polkadot Relay Chain and Kusama. The new fund is led by founder and CEO Kyle Chasse, who is based in Los Angeles, per his LinkedIn profile.

Mitek Acquires ID R&D

socalTECH

San Diego-based digital identity verification provider Mitek said on Monday that it has acquired ID R&D, a provider of artificial intelligence (AI)-based voice and face biometrics and liveness detection technology. According to Mitek, it will use the acquisition to help battle biometric identity fraud. The deal is worth $49M in stock and cash. According to Mitek, ID R&D's technology provides protection against deepfakes and synthetic voice augmentation. ID R&D is based in New York, NY.

Dogdrop Eyes New Dog Daycare Customers As Economy Opens Back Up

socalTECH

A new, Los Angeles-based dog care startup, Dogdrop, says it has started offering up one free week of doggy daycare services to new customers, as the economy begins to open up and people start going back to work. According to Dogdrop, it is looking to decrease the rate of dogs being returned to shelters by offering up reliable, affordable daycare services for dogs. The company's CEO and co-founder is Shaina Denny.

8 Challenges For Startups With A Neighborhood Focus

Startup Professionals Musings

Even though the world is getting smaller, due to easy global connectivity, people still feel alone if not well-connected locally.

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