Sat.Jan 01, 2022 - Fri.Jan 07, 2022

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

VC investors: Don’t be greedy even if you can.

Berkonomics

First, the marginal exit event: Sometimes the end game or sale of the company is not a happy event for the early investors, including the entrepreneur or the founders.

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Insiders

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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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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.

FAQ 165

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.

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

6 Strategies For Luring Investors To Your New Venture

Startup Professionals Musings

Fundraising is brutal. Actually, according to Paul Graham of Y-Combinator fame, “Raising money is the second hardest part of starting a startup. The hardest part is making something people want.” More startups may fail for that reason, but a close second is the difficulty of raising money.

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More Trending

Curling Center Reflects Vernon’s Push to Grow Beyond Industrial Reputation

L.A. Business Journal

Peter Dohm’s list of top places to build an ice curling facility in 2019 did not include Vernon

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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

5 Keys To Establishing A Caring Culture In Your Team

Startup Professionals Musings

It’s easy to say to people on your team that they must be accountable for their actions, but it’s not so easy to tell them how to do it. It’s even harder to give them the mindset of wanting to be accountable.

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.

6 Signs That Your Startup Could Be The Next Exception

Startup Professionals Musings

I tell entrepreneurs that Google was an “exception” to all the investment and startup rules, but I’ve always wondered what it takes to be an exception. Since every business is built by unique individuals, I’m totally convinced that exceptional people are the key to an exceptional company.

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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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

8 Reasons To Forge Ahead Now With Your Next Startup

Startup Professionals Musings

According to most authoritative sources , the global economy has been severely impacted by the current pandemic.

Symplr Acquires Midas Health Analytics Solutions

socalTECH

Enterprise healthcare company Symplr, which is owned by Santa Monica-based private equity investor Clearlake Capital Group, said this morning that it has acquired Midas Health Analytics Solutions from Conduent Incorporated. symplr merger acquisition midas health analytics solutions clearlake healthcare software

Chronos Tech Names CEO

socalTECH

San Diego-based Chronos Tech said this week that it has named Ali Farhang as CEO of the company. Farhang also will join the company's board of directors. Farhang was most recently Corporate Vice President at Micron Technology, and also served 26 years at Intel. Chronos Tech is developing technology for systems-on-a-chip (SoC) in the cloud computing, AI, mobile, automotive, and other areas. chronos tech semiconductor farhang executive intel micron

Alteryx Acquires Trifacta

socalTECH

Irvine-based Alteryx, which develops analytics software, said Thursday afternoon that it has agreed to acquire Trifacta, a developer of data management and machine learning software. Alteryx said it will pay $400M in cash for Trifacta, and also will establish a retention pool of $75 million for former employees of Trifacta. The company said it expects to close the first quarter of 2022. Alteryx was advised by Goldman Sachs and Fenwick & West, with Trifacta advised by J.P.

TuSimple To Tap NVIDIA For Autonomous Trucking Effort

socalTECH

San Diego-based autonomous driving systems developer TuSimple--which is developing technology to enable autonomous trucks--said this week that it has selected NVIDIA's DRIVE Orin systems-on-a-chip (SoC) for its Level 4 autonomous trucking efforts. NVIDIA is best known for its GPUs. According to TuSimple, NVIDIA' Drive Orin SoC delivers 254 TOPS (trillion operations per second) of performance and is the central computer for intelligent vehicles-powering safe autonomous driving capabilities.

LogicMonitor Names New CEO

socalTECH

Santa Barbara-based software developer LogicMonitor says it has named Christina Kosmowski as the company's new CEO, succeeding former CEO Kevin McGibben. McGibben is shifting to become Executive Chairman of the company. Kosmowski was most recently President of the firm. According to LogicMonitor, it saw more than $150M in annual, recurring revenues and 50 percent year-over-year growth in 2021.

VeriCheck Acquires ACHWorks

socalTECH

Los Angeles-based ACH payments provider VeriCheck announced this morning that it has acquired Applied Payments, LLC, which operates as ACHWorks. Financial terms of the acquisition were not announced. VCI said it will integrate the team and technology of ACHWorks to further its offerings. VeriCheck is led by CEO Don Singer, and says it has locations both in Los Angeles and Atlanta. banking payments fintech acquisition merger achworks vericheck

Labrador Systems Raises $3.1M For Assistive Robots

socalTECH

Calabasas-based Labrador Systems, a startup developing assistive robots for the disabled, has raised $3.1M in a seed funding, the company said this week. The funding was led by Amazon's Alexa Fund and iRobot Ventures, and also included SOV and Grep VC. The company said it has launched a new type of personal robot called the "Labrador Retriever" which it says helps individuals to live more independently.

SPORTS.TV Aims At Sports Fans With Streaming Service

socalTECH

A new, free-streaming service, SPORTS.TV, has been launched by Allen Media Group, which said today its new app-based consumer video streaming service is free, and aggregates sports, news, movies, documentaries, and entertainment networks, as well as local broadcast television stations. The company said its app runs on Apple iOS/iPhone/iPad, Android, Fire TV, and Android TV, and is also available on the worldwide web.

Classy: More Than $1.1 Billion Raised For Nonprofits

socalTECH

San Diego-based nonprofit fundraising software developer Classy says that more than $1.1 billion was raised by its nonprofit customers on its platform in 2021. The company--which helps nonprofits reach out to donors--said about $30.8 million of that was in recurring donations on its platform. The company has been developing tools to help nonprofits move donors to give on a recurring basis--more like a subscription--rather than just provide on-time donations. The company said it saw $19.9

ONK Therapeutics Snags $21.5M for NK Cell Therapies

socalTECH

San Diego- and Galway, Ireland-based ONK Therapeutics announced today that it has raised $21.5M in its Series A funding. The funding was led by Acorn Bioventures and ALSHC, plus Cormorant Asset Management. The startup says it is developing optimally engineered natural killer (NK) cell therapies. ONK said the new funding will go to drive multiple, pre-clinical programs through IND-enabling studies, and also go towards GMP manufacturing capability. The company's CEO is Chris Nowers.

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Upfront Summit Delayed Due To COVID-19 Surge

socalTECH

The Upfront Summit, the high tech and venture capital company run by Upfront Ventures, has been delayed, the latest victim of resurging COVID-19 numbers and the Omicron variant. According to conference organizers, in an email to ticket holders, the summit has been postponed for at least five weeks, to March 1st and 2nd, rather than its original event dates of January 26th and 27th. The invite-only event had been scheduled to be held at the Banc of California Stadium in Expo Park.

Dave Gets Approval On SPAC, To Start Trading Thursday

socalTECH

Los Angeles-based banking app developer Dave will start trading on the Nasdaq Global Market as DAVE, starting Thursday, January 6th, after stockholders of VPC Impact Acquisition Holdings III approved the deal to merge with Dave in a SPAC deal. The acquisition by a special purpose acquisition company (SPAC) is the latest in a long line of transactions which have taken technology companies to the public markets, without the traditional initial public offering (IPO).

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Aypa Power Buys Battery Storage Project In Downtown LA

socalTECH

Aypa Power, an energy storage company owned by private equity firm Blackstone, said it is acquiring a 120MW standalone battery energy storage project in downtown Los Angeles. Financial details of the deal were not announced. According to Aypa Power, the deal was with Eolus Project Holdings LLC. Aypa Power said the Cald battery energy storage system (BESS), which is currently in the development stage, will be up to 120 MW in size and located adjacent to the Calden substation.

ServiceTitan Acquires FieldRoutes

socalTECH

Los Angeles-based software developer ServiceTitan, which develops software used by contractors and the trades to manage their businesses, says it has acquired FieldRoutes, a developer of cloud-based software for the pest control and lawn care industry. Financial details of the acquisition were not announced. FieldRoutes was previously known as PestRoutes and Lobster Marketing. FieldRoutes is based in McKinney, Texas.

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Fifth Wall Rakes In $1.1B In Funds In 2021

socalTECH

Los Angeles-based real estate technology investor Fifth Wall said Tuesday afternoon that it raised a total of $1.1 billion across its funds in 2021.

MeetKai Aims At Metaverse

socalTECH

Los Angeles-based MeetKai, a new virtual reality startup, says it is taking aim at the "Metaverse" with a new set of artificial intelligence-powered offerings. According to the company, it has created its own "lifestyle VR world" called the MeetKai Metaverse. The company says it offers a series of AI-powered VR experiences, including everything from museum tours and personalized meditations to private boxing lessons and safari tours.

Brainbase Gets Win With Nissan

socalTECH

Los Angeles-based Brainbase, which develops software to help licensing teams manage partnerships and contracts, said it has inked a deal with Nissan Motor Corporation. Financial details of the win were not announced. According to Brianbase, Nissan will unify its global licensing operations on Brainbase's platform. Brainbase is backed by Bessemer Venture Partners and Nosara Capital, and also included Alpha Edison, Struck Capital, Bonfire Ventures, FJ Labs, and others.

Liquid Death Scores $75M More

socalTECH

Los Angeles-based canned water brand Liquid Death has raised $75M in a Series C funding round at a valuation of $525M. The funding was led by startup studio Science, and also included Live Nation, PowerPlant Partners, Access Capital, and Nomad Ventures. According to an interview with CEO Mike Cessario, the company had nearly $45M in revenues in 2021. The company has now raised $125M in total funding. consumer water canned capital venture death liquid

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.". immunitybio covid19 vaccines vaccination amyris joint venture pandemic

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. CalAmp did not say why its CRO decided to depart the company.

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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. The company has benefited from an interest in its batteries for disaster preparedness.

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