Monday, March 18, 2024

Fisker Automotive Pauses Production As It Seeks Funding

Monday, March 18, 2024

Los Angeles-based electric vehicle maker Fisker Automotive says it has paused all ofits production for six weeks to "align inventory levels and progress strategic and financing initiatives", as the company runs low on cash. The pause comes as Fisker is attempting to raise funding to continue operations. The company said it is "continuing negotiation with a large automaker" for a potential investment.

 
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Bitbrand Gets $500K For Blockchain Apple Watch Graphics

Monday, March 18, 2024

Los Angeles-based Bitbrand announced this morning that it has raised $500K in its first funding round. The company said the funding came from Hustle Fund, Side Door Ventures, GFR Fund and others, including others blockchain and luxury investors. The company offers up "Blockchain-based" watch faces for the Apple Watch.

 
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Friday, March 15, 2024

VeVe Launches Digital Comics Service

Friday, March 15, 2024

Los Angeles and Auckland, New Zealand-based VeVe, a provider of "digital collectibles, comics, and artwork" said it is launching a new "digital comic" service called VeVe Comics. According to the company, the service brings non-subscription access to premium, licensed digital comic books. The company says it is debuting with access to Marvel Comics. VeVe is led by CEO and co-founder David Yu.

 
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Group Dangles $16M For Hydrogen Infrastructure

Friday, March 15, 2024

The Energy Infrastructure Incentives for Zero-Emission Commercial Vehicles (EnergIIZE) says it is awarding up to $16M in incentives to grow hydrogen infrastructure in California, in an effort funded by the California Energy Commission (CEC) and administered by CALSTART. According to the grant provider, they are covering up to 50 percent of eligiable equipment and software costs for projects, of up to $3M per project, to install hydrogen infrastructure in California.

 
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Thursday, March 14, 2024

MDpanel Adds To Board

Thursday, March 14, 2024

Los Angeles-based MDpanel said this week that Dr. Sonu Ahluwalia has joined the company's board of directors. The company said that Dr. Ahluwalia is Vice Chair and Medical Director in the Department of Orthopaedic Surgery and a member of the Cedars-Sinai Medical Center Board of Directors. Ahluwalia provides expert medical opinions from medical professionals.

 
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Activision's Kotick Among Possible Buyers For TikTok

Thursday, March 14, 2024

Bobby Kotick, the CEO of Santa Monica-based Activision, is among the possible buyers for TikTok, according to a report from the Wall Street Journal. The rumors come as US lawmakers are focused on possibly banning TikTok or forcing its sale.

 
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Wednesday, March 13, 2024

Kajabi Ties Into Adobe Express For Generative AI

Wednesday, March 13, 2024

Irvine-based Kajabi, which offers up an e-commerce platform aimed at creators, says it has linked its tools into Adobe Express. The company said its product is Creator Studio, a generative AI tool which helps turn a single video into more than 40 other pieces of content. The company said the tool is designed to "create the most optimal marketing campaigns, quickly and easily for creators." Pricing on the tool was not announced.

 
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From Idea to IPO - KPMG’s Emerging Growth Practice

KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at ryouhan@KPMG.com.

Tuesday, March 12, 2024

Liquid Death Gets $67M, Joins Unicorns

Tuesday, March 12, 2024

Los Angeles-based Liquid Death, the maker of a heavily branded, flavored sparkling water, has raised $67M in a financing round, the company said this week. The company said the funding came from strategic partners, plus new investors, including SuRo Capital; follow-on investors Live Nation, Science, Inc., and Gray’s Creek Capital Partners, plus actor Josh Brolin, NFL All-Pro and entrepreneur DeAndre Hopkins, The Chapelle Show co-creator Neal Brennan, Brazil’s largest metal band Sepultura’s Derrick Green, and Australian comedian Jim Jefferies. The company said the deal gave it a $1.4 billion valuation. Liquid Death is led by founder and CEo Mike Cessario.

 
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Zeitview Adds To Board

Tuesday, March 12, 2024

Los Angeles-based software company Zeitview announced today that it has added Scott G. Stephenson to its board of directors. According to the company, Stephenson is the former CEO of Verisk and founder of SGS Capital. Zeitview says it develops software that helps renewable energy and sustainable infrastructure owners manage maintenance and assets, covering solar, wind, commercial real estate, telecom, and utility assets. Zeitview's CEO is Dan Burton.

 
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BoatBot Applies AI To Boat Maintenance

Tuesday, March 12, 2024

Can conversational AI help you maintain your boat? Newport Beach-based BoatBot says it has launched a new service, which uses AI to help people deal with maintenance and ownership of boats. According to the company, it is using "AI-powered technology' for boat management and service provisioning. The startup is led by David and Maryann Johndrow, who describe themselves as "avid boaters". The company says its platform "facilitates real-time communication, simplified service scheduling, predictive maintenance, and a comprehensive digital service record".

 
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Banc of California, Venture Banking Group

Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, visit us at www.bancofcal.com.

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Monday, March 11, 2024

Stratolaunch Successfully Launches Test Vehicle

Monday, March 11, 2024

Mojave-based Stratolaunch, the developer of a massive airplane and hypersonic testing vehicle, says it has had its first, powered flight of its Talon-A test vehicle, the TA-1. According to the company, the company was able to have a safe safe air-launch release of the TA-1 vehicle, engine ignition, acceleration, sustained climb in altitude, and a controlled water landing of its TA-1 vehicle on March 9th. The company launched its massive airplane--the Roc--from Mojave Air and Space Port. Stratolaunch said, as part of its testing, that it has also begun modifying its new Boeing 747-400, the Spirit of Mojave, for another test vehicle, as well. That Boeing 747-400 was picked up for pennies on the dollar by Stratolaunch from Virgin Orbit's bankruptcy sale. Stratolaunch originally was founded by now deceased Microsoft co-founder Paul Allen, but has since been acquired by others and refocused on hypersonic aerospace testing, rather than the billionaire space race.

 
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Atomic Canyon Applies AI To Nuclear Reactors

Monday, March 11, 2024

San Luis Obispo-based Atomic Canyon said this morning that it has launched a new, AI-powered search platform based on an LLM which has been trained on millions of digitized documents from the U.S. Nuclear Regulatory Commission (NRC). According to the company, its AI engine is designed to "improve efficiency, modernize the regulatory approval process and streamline workflows". Atomic Canyon's CEO and founder is Trey Lauderdale.

 
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Causal IQ Links With Marketing Group

Monday, March 11, 2024

Los Angeles-based programmatic advertising company Causal IQ said this morning that it is partnering with The Philly Ad Club, a marketing organization that provides education, networking, professional development, and programming in a strategic partnership. According to the company, the deal will help with "advancing community impact and fostering innovation in the industry." The company did not say if there was any financial arrangement with the group, but said one of its Senior Account Executives apparently is taking a volunteer leadership role at the group, which is based in Philadelphia.

 
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Banc of California, Venture Banking Group

Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, visit us at www.bancofcal.com.

Friday, March 8, 2024

Faraday Future Recalls Eleven Vehicles

Friday, March 8, 2024

Los Angeles-based EV maker Faraday Future has had to issue its very first vehicle recall--for a grand total of eleven (11) vehicles. In a filing with the National Highway Traffic Safety Association (NHTSA), Faraday Future said certain FF91 2.0 Alliance vehicles have an issue with a module, which causes the air bag malfunction indicator light to not illuminate. The company said all of the FF91 2.0 Alliance Edition vehicles built between 3/2023 and 12/2023, are affected--a whopping eleven vehicles.

 
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Rivian Pauses Georgia EV Plant Efforts

Friday, March 8, 2024

Irvine-based EV maker Rivian has paused work on a $5 billion EV plant it had been working on in Georgia, as it looks to cut costs at the auto maker. Rivian said it intends to produce its R2 at its existing, Normal, Illinois manufacturing plant instead of Georgia, saving $2.5 billion for the company. Rivian said that its Georgia plant "remains an extremely important part of its strategy to scale production of R2 and R3" but did not give any timing on when it might resume work in Georgia.

 
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From Idea to IPO - KPMG’s Emerging Growth Practice

KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at ryouhan@KPMG.com.

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Thursday, March 7, 2024

SpaceX Sued Over Sexual Harassment, Gender Discrimination

Thursday, March 7, 2024

Hawthorne-based SpaceX has been sued by an ex-employee, who accuses the company of supporting a supervisor who "pressured her into having sexual relations with him". The lawsuit claims the company fostered serial sexual abuse. The lawsuits are not the first for the company, which was sued by five former SpaceX employees in 2021; another Musk company, Tesla, has also faced similar lawsuits.

 
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Rakuten Medical Gets $119M In Series E

Thursday, March 7, 2024

Rakuten medical, a company developing precision therapies for treating cancer, has raised $119M in a Series E funding round. The company said the new funding came from Hikma, a global pharmaceutical company, and Mizuho Bank and Dai-ichi Life, plus SBI Group, Rakuten Group and its Chairman and CEO, Mickey Mikitani. The company said it will use it to support development of its pipeline. As part of the funding, the company said it has added Mazen Darwazah of Hikma to its board. The company has its U.S. headquarters in San Diego, but is based in Japan.

 
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Wednesday, March 6, 2024

Sendlane Rolls Out New Tool

Wednesday, March 6, 2024

San Diego-based Sendlane, which develops retention marketing software for the e-commerce industry, says it has rolled out an update to its email and SMS marketing product. According to the company, it has launched "Forms", a tool which helps its customer grow their email and SMS lists. The company says the tool is available at no cost to its existing customers.

 
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From Idea to IPO - KPMG’s Emerging Growth Practice

KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at ryouhan@KPMG.com.

Monday, March 4, 2024

A Look At Plug In South LA

Monday, March 4, 2024

What is Plug In South LA? Techcrunch looks at the accelerator program, which is aimed at helping accelerate startups based in South Los Angeles, and bolsters "Black & Brown early-stage entrepreneurs", who have historically had a very difficult time getting venture capital money. Plug In South LA is led by Derek Smith.

 
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Funraise Applies AI to Nonprofit Fundraising Tool

Monday, March 4, 2024

Los Angeles-based Funraise, which develops on online platform that helps nonprofits raise funding, says it has launched new AI features within its products. According to the company, it has added ""AI forecasting, AI data explanations, and AI natural language queries" using technology from Sisense. Funraise is led by CEO and co-founder Justin Wheeler.

 
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REC Solar Names CEO

Monday, March 4, 2024

San Luis Obispo-based REC Solar, which develops on-site and community solar and storage projects, says it has named a new CEO. According to the company, it has appointed Robb Jetty--most recently, Chief Operating Officer at Distributed Solar Development (DSD)--to the CEO position. Jetty previously also served as Vice President of Business Development for C&I and EPC Markets at EDF Renewable Energy as well as Executive Vice President at Onyx Renewable Partners, LP and M+W Group.

 
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Banc of California, Venture Banking Group

Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, visit us at www.bancofcal.com.

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Patents. Trademarks. Copyrights. Trade Secrets. IP Filings. IP Strategy. IP Litigation. IP Transactions. US and Worldwide. Offices in Westlake Village and Santa Barbara. info@socalip.com www.socalip.com

Friday, March 1, 2024

Fisker Cut 15 Percent, Pauses Work On New Models

Friday, March 1, 2024

In a ominous sign for Los Angeles-based electric vehicle (EV) maker Fisker Automotive has cut 15 percent of its staff--200 people--and will pause new work on its new EV models, as a result of a shift to a new "Dealer Partner" model. Fisker announced the cuts as part of its quarterly results--and also said it is in "negotiations with" an un-named large automaker that might include an investment in Fisker, joint development of one or more electric vehicle platforms, and North American manufacturing. The pause and cuts come as Fisker produced 10,193 Oceans, but only delivered 4,929 vehicles.

 
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Zest AI Launches New Product

Friday, March 1, 2024

Los Angeles-based Zest AI said this week that it has launched a new, generative AI product, which it calls "LuLu". According to the company, the customized generative AI tools will allow its customers to "instantly capture strategic industry insights, decisioning and portfolio performance metrics, and quickly access their unique Zest AI product knowledge base." Zest develops AI lending technology aimed at financial providers.

 
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MixMode Gets Win In Dallas

Friday, March 1, 2024

Santa Barbara-based AI cybersecurity developer MixMode said this week that it has scored a win with the City of Dallas. According to the company, Dallas will use its cybersecurity platform to bolster its cybersecurity defenses. Financial impacts of the customer win were not announced.

 
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Thursday, February 29, 2024

Jam Uses AI For Family Calendars

Thursday, February 29, 2024

Los Angeles-based Jam said this week that it has launched a new, AI-enabled family calendar and organization app, which it says is aimed at "alleviating the mental load burden faced by busy families." According to the company, the product was specifically designed to help streamline household logistics, particularly for working mothers. The company said it is using OpenSource AI to power the calendar system. Jam is led by CEO and co-founder Koosed Etting.

 
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Restaurant365 Adds Tip Automation Features

Thursday, February 29, 2024

Irvine-based restaurant enterprise management software developer Restaurant365 said it has launched a "tip automation tool" which helps restaurants manage distribution and accounting of tips. The company said the software helps replace "nonstandard processes" how restaurants manage how they account for and distribute tips.

 
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Tuesday, February 27, 2024

SimpleClosure Sees $4M Seed To Automate Business Shutdowns

Tuesday, February 27, 2024

Santa Monica-based SimpleClosure, a startup which says it has created an automated platform to help people shut down their businesses, has raised $4M in a seed funding round. According to the company, the new funding was led by Infinite Ventures, and also included Anthemis Group and Foxe Capital, along with angels. The company said the new funding comes shortly after a pre-seed round. SimpleClosure cited a "challenging" venture capital environment for its service, which it says is a "founder-friendly" business shutdown service. The CEO and founder of SimpleClosure is Dori Yona.

 
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Monday, February 26, 2024

mTab Snags $15M In Credit

Monday, February 26, 2024

Yorba Linda-based mTab, a developer of technology used for market insights and survey data, has raised $15M in a credit financing. According to the company, the credit financing came from Kayne Anderson Growth Capital. Terms of the financing were not announced. The company said it will use the funding to further accelerate its growth and global expansion. mTab says it provides technology for instant access to "insights on markets, industries and brands, supported by up-to-date data, analytics, reports and an expert community." The CEO of mTab is Mark Langsfeld.

 
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Friday, February 23, 2024

Santa Barbara Venture Partners Gets Exit At Jackpocket

Friday, February 23, 2024

Santa Barbara Venture Partners, the venture fund run by Dan Engel, has scored the second exit in its first fund, SBVP Fund I, in the acquisition of Jackpocket earlier this month. SBVP did not say how much of Jackpocket it owned. DraftKings said earlier this month that it would pay $750M for Jackpocket, the provider of digital lottery services, which allow people to purchase lottery tickets through an app.

 
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Enevate Expands To Korea

Friday, February 23, 2024

Irvine-based battery technology developer Enevate said this week that its technology has been deployed in Korea. According to the company JR Energy Solution (JR ES) has started a electrode foundary in Korea with capability to manufacture electrodes containing its technology. Enevate is developing battery tech which it says enabled "extreme fast charge with high energy density batteries" for electric vehicles (EVs) and other markets. Enevate claims its technology charges up to 10 times faster than traditional lithium-ion batteries and operates at lower temperatures.

 
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Inversion Art Aims At Fractional Art Ownership

Friday, February 23, 2024

Los Angeles-based Inversion Art says it is aiming to "revolutionize the contemporary art market", in an online auction with fractional sales platform aShareX. According to the company, the two will be running an online auction which will allow fractional bidders on contemporary art--with minimal fractional bids of just $500. Inversion Art calls itself "the Y Combinator of the art world".

 
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Rivian Cuts 10 Percent Of Workforce, Cites Interest Rate Pressures

Friday, February 23, 2024

Irvine-based Rivian said on Wednesday that it is cutting 10 percent of its work force, citing lower production expectations for the company. The layoff announcement came as part of its fourth quarter/full year 2023 financial results announcement, where the company said said it produced 57,232 vehicles for 2023, and delivered 50,122. The company said that it now expected to produce 57,000 vehicles in 2024--the same as 2023--due to "economic and geopolitical uncertainties and pressures" and specifically citing "historically high interest rates".

 
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Banc of California, Venture Banking Group

Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, visit us at www.bancofcal.com.

Thursday, February 22, 2024

Rocket Lab Returns Pharmaceuticals From Space

Thursday, February 22, 2024

Long Beach-based Rocket Lab says that it has successfully launched and brought back a spacecraft capsule which produced pharmaceuticals in space. According to Rocket Lab, it launched a capsule into space for Varda Space Industries, which manufactured a payload of pharmaceuticals crystals in space--the first space manufacturing mission conducted outside of the International Space Station. The company said that the Varda capsule returned to earth via parachute to the Utah Test and Training Range (UTTR) near Salt Lake City, Utah.

 
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NTWRK Acquires Complex

Thursday, February 22, 2024

Financial terms of the acquisition were not announced. NTWRK said that the venture is being backed by Main Street Advisors, Jimmy Iovine, Universal Music Group, and Goldman Sachs, with a strategic partnership with Universal Music Group. The company said the deal would be "marrying an e-commerce platform anchored in sneakers, streetwear, and collectibles with content and music" and create a "digital hub at the forefront of convergence culture."

 
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From Idea to IPO - KPMG’s Emerging Growth Practice

KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at ryouhan@KPMG.com.

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Wednesday, February 21, 2024

Thin Line Capital Raises Fund II

Wednesday, February 21, 2024

Pasadena-based cleantech investor Thin Line Capital has completed its second fund, Thin Line Capital Fund II, according to the firm. Size of the new fund was not announced. According to the firm--run by founder and managing partner Aaron Fyke--the firm also has made its final investment in Thin Line Capital Fund I. Fyke previously has worked as CEO of a number of Idealab companies, was a partner at Australian venture firm Starfish Ventures, along with other related experience; the firm's advisors include "Max" Nikias (former President of USC); Andy Wilson of the Alliance for SoCal Innovation; Eric Manlunas at Wavemaker partners, and Carl Sheldon at Bellnote Partners.

 
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