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University of California Plans $250M Venture Capital Fund

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Startups related to the many University of California campuses in Southern California may soon have a new source of funding: The University of California itself, via a new, $250M venture capital. The fund would come from the UC endowment, and no tuition or state funding will be used, according to the UC system.

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Groups Join To Promote Innovation, Entrepreneurship in Riverside County

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A trio of local groups have teamed together to promote innovation and entrepreneurship in Riverside County, and received approval Tuesday from the Riverside County Supervisors for the effort. The groups have not outlined their agenda for the effort yet.

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Helicoid Industries Finds $2.4M

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Helicoid is a spinout of the University of California Riverside. UC Riverside licensed out the technology for Helicoid in March of 2019, to commercialize their bio-inspired patented helicoid architecture for use in composite materials.

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FarmSense Harvests $2.2M In SBIR Funding

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Riverside-based FarmSense, a developer of "smart sensors" for the agriculture market, has raised $2.2M in Small Business Innovation Research (SBIR) funding. According to the company, the funding will go to ongoing biosecurity research, including the impact of Japanese Beetles and Gypsy Moths as invasive species.

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WurkNow Gets $10M

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Riverside, California-based WurkNow, a developer of a digital staffing and workforce management software product, has raised $10M in a Series A funding, according to the company. The company said the round was led by Newport Hayseed Group, which is based in Newport Beach.

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Soothe Score $31M For On Demand Massages, But Moves To Vegas

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According to the company, the funding came from The Riverside Company. Soothe , which provides on-demand access to certified massage therapists, has raised $31M in a new funding, the company said on Wednesday, but has shifted its headquarters out of Los Angeles and moved to Las Vegas. The company did not say why it moved to Las Vegas.

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Rustic Canyon Backs Social Shopping Site

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Los Angeles-based venture capital firm Rustic Canyon is the lead investor in a round of funding from a social shopping site out of Y Combinator. The round came from new investor Rustic Canyon Partners, and also included prior investors Blumberg Capital and Redpoint Ventures. in a Series A round. READ MORE>>.