'It Felt Like a Black Mirror Episode' The Inside Account of How Bird Laid off 406 People in Two Minutes via a Zoom Webinar

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

'It Felt Like a Black Mirror Episode' The Inside Account of How Bird Laid off 406 People in Two Minutes via a Zoom Webinar

Last Friday morning, 406 Bird employees – who had been working from home for two weeks because of the coronavirus and bleary-eyed from putting in longer than usual days in an unprecedented effort to rapidly wind down global operations in cities around the world – received a generic-sounding Zoom webinar invitation titled "COVID-19 Update."

Travis VanderZanden, 41, a former top Uber executive who founded Bird only three years ago, had abruptly cancelled the previous Thursday's regular biweekly all-hands meeting, referred to internally as Birdfams. He had not addressed Bird's thousand-plus employees since they were forced to leave their offices, so most employees assumed he was giving an update on the company's response to the worsening global pandemic.

But some grew suspicious when they noticed the guest list and host were hidden and they learned only some colleagues were included. It was also unusual they were being invited to a Zoom webinar, allowing no participation, rather than the free-flowing meeting function the company normally uses. Over the next hour, employees traded frantic messages on Slack and searched coworkers' calendars to see who was unfortunate enough to be invited.

"It should go down as a poster child of how not to lay people off, especially at a time like this," said one employee.


Before the novel coronavirus brought the world to a halt, Bird had been on an exceptionally meteoric rise, even by the frothy standards of what now seems like a bygone era of venture capital that brought ever-ballooning valuations to all manner of companies. In 2018, Bird became the fastest company in history to reach unicorn status. Shortly after that, it achieved a $2 billion valuation in less than a year and announced it had expanded to 100 cities with 10 million scooter rides.

In late January, Bird raised another $75 million of Series D2 funding at a $2.77 billion valuation. But less than two months later, the company suddenly found itself mostly shuttered at the worst possible time during the crucial post-winter months when it counts on earning most of its revenue after bringing scooters out of what employees refer to as "hibernation." During a pandemic the last thing people want to do is touch a shared scooter, if they're going anywhere at all.

Employees say the company has swiftly responded to by far the biggest crisis in its short history more severely than it has publicly let on, suspending operations in every market and slashing its workforce by 40%, a figure based on the global Slack channel all employees are required to join that includes about 1,060 employees. (A Bird spokeswoman declined to comment on the figure and referred to an earlier TechCrunch article that put the percentage at "around 30%.")

It Felt Like a Black Mirror Episode;' The Inside Account of how Bird Laid off 406 People in Two Minutes via a Dystopian Zoom Webinarassets.rebelmouse.io

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Bird's Santa Monica headquarters has been particularly hard hit. Whenever the office is able to reopen, there will be fewer than half as many workers as before Coronavirus.

This account, which includes many previously unreported details, is based on a review of internal memos and a recording of the now infamous Zoom meeting obtained by dot.LA as well as extensive conversations with more than half a dozen Bird employees at all levels of the company who were laid off. Most requested anonymity so as not to jeopardize their severance or future job prospects.

Bird declined to make anyone available for an interview or even fully answer a list of written questions, instead sending a statement to dot.LA: "Layoffs are never easy or comfortable to do and COVID-19 has impacted the way they are done in at least the near term...We are eternally grateful to the impacted individuals and wish that the entire situation could have been avoided."

Employees describe being thrilled to join such a fast-growing startup brimming with talent that had a lofty mission to forever change the way people are transported all around the world. Last year, LinkedIn named Bird as one of the hottest startups to work for in the U.S.

The now sadly common occurrence of reducing headcount, as employers like to call it, during coronavirus is challenging when face-to-face meetings are not possible. However, Bird employees say they are disheartened by how coldly Bird handled the reductions.

"Lots of companies have to lay people off right now," said Jenny Alvauaje, a 23-year-old Bird data scientist who was dismissed after a year and half at the company. "People will recognize the companies who did it well and the ones that didn't. I hope Bird is the one that is remembered as one who did it poorly."

"It felt like a Black Mirror episode"

At 10:30 a.m., employees logged onto Zoom but were greeted only by a cracking silence. Meetings at Bird are usually always punctual and more frenzied Slack messages followed.

"Is there audio? Why can't i hear anything?" Alvauaje messaged her colleagues.

"We never start late," another employee remembers thinking. "This is strange. Something feels off."

For the next five minutes, employees stared at a sparse slide with a dark grey background that said only "COVID-19."

"It was not our brand color or font, which frankly was unsettling in a way I couldn't articulate," Alvauaje said.

Thinking there were technical difficulties, some employees logged-off and were never able to return to the meeting. Then, after five minutes of dead air that seemed like an eternity, a robotic-sounding, disembodied voice came on the line.

The woman began by acknowledging "this is a suboptimal way to deliver this message." Then she cut to the chase: "COVID-19 has also had a massive impact on our business, one that has forced our leadership team and our board of directors to make extremely difficult and painful decisions. One of those decisions is to eliminate a number of roles at the company. Unfortunately your role is impacted by this decision."

The meeting was scheduled to last half an hour but ended up going for only two minutes. Towards the end of the monologue, as the woman started talking about the future of Bird, she sounded like she was getting choked up and was trying to hold back tears.

"It felt like a Black Mirror episode," Alvauaje said. "This ominous voice came over and told us we were losing our jobs."

Almost no one recognized the voice, and there remains disagreement about who had the unfortunate job of delivering the message. But this much is clear: It was not VanderZanden or a top executive.

"It was a cowardly move," said a Bird manager. "Travis did not want to deliver the news."

"It sounded like a recording and it was very strange and ominous," said an operations employee.

VanderZanden, who Tweets sparingly and has been silent on the messaging service since late January, defended the meeting Saturday in a reply to a recounting of the meeting that had gone viral: "We did NOT let employees go via a pre-recording. It was via a live zoom mtg (not ideal either) b/c we're all WFH during COVID. Video was turned off which we thought was more humane. In retrospect, we should've made 1on1 calls to the 100s impacted over the course of a few days."

VanderZanden's defensive replies and an internal memo have been his only comments about the layoffs. In its statement, the company said, "we purposefully and intentionally did not have any video on to protect privacy as we delivered the news live to individuals. A live speaker delivered the news in real time over the web-based call and a slide was projected outlining additional information including four weeks of pay, three months of medical coverage and an extended timeframe to exercise options."

Most employees dot.LA spoke with still believe the call was pre-recorded. They say it's hard to otherwise explain how the message could be delivered so robotically, but some also say at this point the distinction is moot.

"It might as well have been a recording given the lack of human interaction," said one staffer.

Making it more surreal, some people were logged out while the brief speech was still underway. As the voice on the line was speaking, employees stared at their computer and began to take in the news that they were losing their jobs. Then their screens suddenly went dark and their company issued MacBooks restarted. By 10:40 a.m, everyone was locked out, just as employees were frantically trying to exchange personal numbers and emails on Slack and take screenshots of their contacts. They wondered why they were being cut off then since they had just been told their last day was not until April 3rd.

Bird Layoffs: An Audio Recordingwww.youtube.com

A month earlier, someone in Bird's IT department had been tasked by his superiors to write a script that would allow the company to instantly shut down all of a user's accounts – computer, email, Slack – with the click of a single button, according to an employee. He was told the script would be used for general off-boarding rather than the mass layoff that he ended up being included in. Last Friday, the script seems to have been activated early.

Some employees, who had the day off or were working a later shift, did not understand why their computers were restarting and why they could not log back in. Others tried in vain to join the webinar and got a message saying it was full, likely because Bird's webinar license didn't accommodate enough attendees. Some employees did not realize what was going on until they saw a brief TechCrunch article posted at 11:26 a.m.

According to Bird's statement, "HR representatives, managers, and/or executives personally reached out to all individuals directly as a follow up." But few employees have seen any follow-up. It did not help that many managers were included in the layoffs and had no idea who on their team had been cut. Some resorted to messaging their reports on LinkedIn to see if they still worked at the company.

The next day, one employee received what seemed like a heartfelt note of gratitude from his boss's boss thanking him for what he had contributed during his 18 months at Bird, but he soon discovered he had gotten a form letter. "Seven of my contemporaries said they had received the exact same message," the employee said. "I realized he had just copy and pasted it."

Workers were told they would be receiving three months of healthcare benefits but when they looked into it, they discovered the company is actually only providing coverage until April 30th. After that employees have the option of enrolling in COBRA, according to an off boarding memo obtained by dot.LA.

"I can't pay the $600 out of pocket for that," said one employee. "I'm just going to go on MediCal." (A Bird spokeswoman clarified Wednesday: "All impacted employees will receive three months health coverage paid for by Bird. Ensuring these individuals were taken care of through June during the global pandemic was key and we wanted to go beyond the industry standard.")

Employees say Bird seems primarily concerned about getting their now locked laptops back, which are mostly MacBook Pro's for older employees and the cheaper MacBook Air's for newer staffers, who joined in an era when the company became more focused on cutting costs.

"IT will send a box with a return shipping label to retrieve company assets (e.g., Laptops, chargers, and badge)," the company stated in its off boarding memo. "All items should be put in the box and mailed back to us by April 15."

The company has been less specific about how employees will get back the items they left at their desks when they walked out of the office for what turned out to be the last time nearly three weeks ago. It is a sad fact of the COVID-19 era that laid off employees do not even get to clean out their own desks.

"They said any personal items would be sent back to us 'eventually,'" said one staffer. "There's a lot of stuff on desks and monitors that belong to employees of the company."

live.staticflickr.com

A workforce decimated

Almost no division was spared from wrenching cuts, from engineering to data to government partnerships to legal.

"Pretty much everybody I worked with was let go," said one operations employee. "They eradicated whole teams."

Several employees noted that the cuts included some viewed internally as superstars. They also noticed that the layoffs will result in a much less diverse company.

"It seems like they got rid of the majority of women and people of color," said one staffer. "In engineering they got rid of the only women in significant leadership."

"As far as I know, the folks that are left from my immediate team consist of all men, most of whom are white," Alvauaje wrote in a Medium blog post. She said her data team was reduced from around 50 to just five people. "When your C-Suite looks the way Bird's does (the way many do, in tech and otherwise) and your data team follows suit, you cannot best serve the communities you pretend to care about," she wrote.

Laid off employees have joined an ex-Bird Slack group to share job leads and try to process what happened. "There's a lot of dark humor being passed around," said one employee.

"This could not have happened at a worse time"

When the coronavirus hit, many Bird employees were busy coordinating taking scooters out of "hibernation" for the busy spring and summer months, a period known as "Spring Push." The company brings in little revenue in the winter, banking on ridership to return in warmer months.

"This could not have happened at a worse time for the company so that's why this happened so quickly," said one employee.

Bird's biggest competitor, Lime, announced March 21st that it was "winding down and pausing" service in all markets except for South Korea. Bird did not follow suit, at least publicly. Its last announcement about COVID-19 came on March 12th - which seems like a lifetime ago in this rapidly changing environment. The blog post said only that the company would be cleaning scooters more frequently.

"The only cleaning I was aware of was when they were putting them away," said a Bird operations employee. "They have been rapidly removing scooters from marketplaces and putting them in sleep mode. Externally they were not telling customers that. They weren't telling people they were removing everything."

Bird would not directly address whether the company has suspended operations in all markets. "Our decision to temporarily pause or reduce our fleet in some cities is very fluid as the response to and recommendations regarding COVID-19 evolve," a spokeswoman said Wednesday afternoon in an e-mail to dot.LA. "Our actions are in line with voluntary, as well as mandatory measures set by governments for businesses. We will continue our close dialogue with local officials in each of the cities we provide our service and will again offer full fleets of our safe, clean transportation alternative as soon as possible."

The last weeks at Bird were particularly frantic for many employees because the company was doing something no rapidly growing unicorn ever wants to do: scaling back its operations as quickly as possible.

"My sole focus the last weeks of my employment was reducing operational spend as much as I could," said a manager. "My department had quite a bit of spending. I was told to get it to zero."

This manager was part of a team of about two dozen employees responsible for planning Bird's response to the novel coronavirus.

"I thought cuts were likely coming at some point," said the manager. "But I did not expect to be cut in the first round."

Like others, he heard about the call when he logged onto the Zoom webinar. He wished he had at least had enough time to say goodbye to his team.

"The leadership at Bird handled this in an immature manner,' he said. "The world deserves to hear about it."

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The LA Startup Taking on One of Parenting’s Most Frustrating Problems

🔦 Spotlight

Hello Los Angeles,

Every parent knows the feeling of becoming an overnight expert in something they never wanted to learn.

For families navigating developmental delays, behavioral health needs, autism, speech therapy, occupational therapy or pediatric mental health support, that learning curve can become a full-time job. Finding the right specialist is hard enough. Getting those specialists, pediatricians, insurers and families to actually coordinate with each other? That’s often where the system breaks.

That’s the problem Los Angeles-based Village is trying to solve.

The specialty pediatrics startup raised $9.5 million in seed funding this week, led by Upfront Ventures, with participation from Bling Capital, GTMFund and Perceptive Ventures.

Its AI-powered platform is designed to bring families, providers, pediatricians and payers into one coordinated care system for children with developmental, behavioral and mental health needs.

The company was born out of co-founder Brandon Terry’s personal experience navigating care for his daughter after she was diagnosed with a rare genetic condition. Like many parents, his family faced long waitlists, high out-of-pocket costs and a fragmented web of specialists who were not necessarily working from the same playbook.

The pitch is not simply “find a provider faster.” Village wants to coordinate the entire team around a child, including occupational therapists, speech-language pathologists, behavioral therapists and pediatricians. Its AI agent, Vera, is designed to help with the administrative drag that often slows pediatric practices down: scheduling, documentation, billing and care coordination.

The company’s raise also points to a less flashy, but deeply consequential corner of health tech: making complex care easier to navigate. In specialty pediatrics, the pain point is not always the quality of care itself. It is the space between appointments, referrals, insurance approvals and provider communication where families are often left to connect the dots themselves.

So far, Village says it has built a network of more than 400 independent pediatric specialty providers in Southern California and has contracts with major commercial insurers including Blue Cross & Blue Shield, Cigna and UnitedHealthcare. The new funding will help the company expand across Southern California, into other parts of California and eventually into new states.

In other words, the next wave of healthcare infrastructure may not look like one giant hospital system. It may look more like a connected network built around the people who have been holding the system together all along: families.

And yes, in this case, it really does take a Village.

Venture deals follow below.👇


🤝 Venture Deals

    LA Companies

    • MOSH, the brain health nutrition brand co-founded by Maria Shriver and Patrick Schwarzenegger, raised a $13M Series A led by Main Street Advisors to expand nationally across grocery retailers and accelerate product innovation. The Los Angeles-based company plans to use the funding to grow its retail footprint, including an upcoming Target launch, while expanding its lineup of brain-focused nutrition products with new high-protein bars designed to support both cognitive and physical performance. - learn more
    • Spring Labs raised $5M to expand its AI-native compliance platform for banks and fintechs, with the funding led by BankTech Ventures and Haymaker Ventures. The Marina del Rey-based company is building AI agents that automate complaint handling, dispute resolution, and other compliance workflows, helping regulated financial institutions scale operations more efficiently while maintaining oversight and auditability. - learn more
    • FlowPrompt.ai secured a strategic seed investment from ART Fund SP, part of ChainBLX SPC, as the company expands its AI orchestration platform designed to help developers build and manage complex AI workflows through a visual interface. Alongside the investment, the companies also launched a global AI hackathon and builder program that will give selected founders access to funding opportunities, platform tools, and a live investor pitch event in Los Angeles later this summer. - learn more
    • Chance Studios raised $3.2M to build a unified platform for trading card game collectors, aiming to bring inventory management, marketplace activity, and community features into a single ecosystem. The round was co-led by Makers Fund and Hashed, with participation from Arbitrum Gaming Ventures, GAM3GIRL VC, and others, as the company looks to modernize how collectors buy, track, and interact around physical and digital TCG assets. - learn more

    LA Venture Funds
    • Rebel Fund participated in Moritz’s $9M seed round, backing the AI-native law firm as it looks to automate large portions of routine corporate legal work. The company combines software with experienced attorneys to speed up contract drafting and review, and says it has already handled more than $2 billion worth of contracts across over 100 companies since launching earlier this year. - learn more
    • Rebel Fund participated in Corvera’s $4.2M seed round, backing the AI-native supply chain platform as it automates back-office operations for consumer packaged goods brands. The Y Combinator-backed startup is building AI agents that can handle workflows like order processing, invoicing, and demand planning across fragmented enterprise systems, helping brands scale operations without significantly increasing headcount. - learn more
    • Chaac Ventures participated in Astrocade’s $5.6M funding round, backing the gaming startup as it builds a social gaming platform centered around community-created interactive experiences. The company is focused on blending gaming, streaming, and creator tools into a more collaborative entertainment platform, and plans to use the funding to expand development and grow its creator ecosystem. - learn more
    • Fusion VC participated in MSICS Pharma’s $3.6M funding round, backing the biotech company as it advances psilocybin-based treatments for PTSD, depression, and OCD. The company is developing medical-grade psychedelic compounds and plans to use the funding to expand production, accelerate clinical trials, and prepare for broader commercialization as interest in psychedelic therapies continues to grow. - learn more
    • JAM Fund participated in Fun’s $72M Series A, backing the payments infrastructure startup as it scales its platform for moving money across fintech and digital asset applications. The round was co-led by Multicoin Capital and SignalFire, and the company plans to use the funding to expand internationally, pursue acquisitions, and deepen its infrastructure stack as demand grows for faster global payment systems. - learn more

    LA Exits

    • Tapin2 was acquired by Greater Sum Ventures, joining MyVenue as part of GSV’s expanded point-of-sale technology platform for stadiums, arenas and live entertainment venues. Tapin2 provides self-service, suite catering and mobile ordering technology for high-volume sports and entertainment venues, while MyVenue offers cloud-native POS software across concessions, premium seating, retail, in-seat ordering and other venue operations. Together, the companies say their technology is used in more than 70% of MLB and NFL stadiums. Terms of the transaction were not disclosed. - learn more
    • Motiv Space Systems signed a definitive agreement to be acquired by Rocket Lab, bringing its space robotics, motion control systems and precision spacecraft mechanisms into Rocket Lab’s growing space systems business. Motiv’s technology has supported major missions including NASA’s Mars Perseverance rover and lunar rover programs, and the company will be rebranded as Rocket Lab Robotics after the deal closes, which is expected in the second quarter of 2026. - learn more
    • Robyn was acquired by Los Angeles-based Tot Squad, bringing its AI-powered doula tool into Tot Squad’s broader support platform for expecting and new moms. Robyn’s AI was trained on more than 70,000 de-identified messages between parents and doulas, and the acquisition will help Tot Squad offer free, around-the-clock pregnancy and early motherhood guidance alongside access to human experts like doulas, lactation consultants and sleep coaches. Terms of the deal were not disclosed. - learn more

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      Match Goes Niche With $100M Move

      🔦 Spotlight

      Hello Los Angeles,

      It’s May, and LA is about to have one of its more important weeks.

      The Milken Institute Global Conference 2026 returns to Beverly Hills next week, bringing together thousands of investors, operators, policymakers, and executives. It’s one of the few places where public markets, private capital, and tech actually overlap in the same rooms, and where you can usually get an early read on what capital is leaning into before it fully shows up in the data.

      This year, one theme is already starting to surface. Platforms are getting more specific, not more broad.

      This week’s news is a good example.

      Match Group is investing $100 million into Sniffies, a fast-growing, location-based platform built for gay, bi, trans, and queer men. It’s a notable move for a company best known for mainstream dating apps like Tinder and Hinge, and it signals a deeper push into more niche, community-driven platforms.

      Sniffies operates very differently from traditional dating apps. It’s more real-time, more map-based, and more focused on immediacy than long-term matching. In other words, it’s built around behavior, not profiles.

      And that’s what makes the investment interesting.

      For years, the dominant strategy in consumer platforms was scale, build one product that works for everyone. But what we’re seeing now is the opposite. The platforms that are gaining traction tend to be the ones that understand a specific audience deeply and build for how that group actually behaves.

      Match leaning into that shift isn’t just about expanding its portfolio. It’s a recognition that growth is coming from focus.

      And in a city like Los Angeles, that’s usually where things start.

      Below are this week’s venture deals and fund announcements across LA 👇


      🤝 Venture Deals

        LA Companies

        • Illuminant Surgical raised an $8.4M seed round to accelerate the rollout of its real-time anatomical projection platform, which aims to give surgeons enhanced visibility during procedures. The company’s “Skylight” system is designed to project internal imaging directly onto the patient, improving precision and reducing risk, and the funding will support product development and early commercialization efforts. - learn more
        • Jupid raised $840K in early funding to support its AI-native accounting platform, which is designed to automate bookkeeping, tax filing, and compliance for small businesses directly within banking platforms. The company is building what it describes as an embedded “AI accountant” that integrates with financial institutions to streamline operations for entrepreneurs, and plans to use the funding to expand partnerships and accelerate product development as demand grows for automated financial tools. - learn more
        • Lumicup raised a $4.38M Series A to expand its product line and scale manufacturing as it looks to meet growing demand for its consumer health and wellness products. The company plans to use the funding to increase production capacity, invest in new product development, and strengthen its distribution as it continues to grow its footprint in the market. - learn more
        • Counterpart raised a $50M Series C to expand its AI-driven “agentic insurance” platform, which helps small businesses manage growing legal and employment risks tied to AI adoption. The round was led by Valor Equity Partners with participation from existing investor Vy Capital, bringing the company’s total funding to $106M, and the capital will be used to launch new insurance products, expand risk management capabilities, and scale its underwriting platform. - learn more
        • Nervonik raised a $52.5M Series B to advance its next-generation peripheral nerve stimulation technology, which aims to deliver more precise, personalized treatment for chronic pain. The round was led by Amzak Health with participation from Elevage Medical Technologies, U.S. Venture Partners, Lumira Ventures, Foothill Ventures, and Shangbay Capital, and the company plans to use the funding to accelerate clinical programs and move toward commercialization. - learn more
        • LighthouseAI raised an $8M Series A to expand its AI-powered platform that helps pharmaceutical companies manage state licensing and regulatory compliance. The round was led by Boxcars Ventures with participation from TGVP and existing investors, and the company plans to use the funding to enhance product development, improve service delivery, and support continued growth as it scales across the pharma supply chain. - learn more

        LA Venture Funds
        • MANTIS Venture Capital participated in Rogo’s $75M Series C, backing the AI platform as it builds autonomous financial agents designed to streamline complex workflows for banks and investment firms. The round was led by Sequoia Capital and included a mix of major financial institutions and venture firms, signaling strong demand for AI tools that can augment decision-making across high-stakes finance. - learn more
        • M13 participated in Chord’s $7M funding round, backing the AI commerce platform as it builds a “context layer” designed to unify fragmented data, tools, and workflows for retail brands. The round was led by Equal Ventures with participation from Chingona Ventures and CEAS Investments, and the company aims to help operators move beyond dashboards toward systems that can make real-time decisions and automate actions across the business. - learn more
        • Fika Ventures participated in Lumian’s funding round, backing the startup as it launches an AI-native Amazon agency designed to automate and optimize how brands operate on the marketplace. The company is focused on replacing traditional agency workflows with AI-driven systems that can manage everything from advertising to operations in real time, reflecting a broader shift toward automation in e-commerce. - learn more
        • Riot Ventures co-led True Anomaly’s $650M Series D, backing the defense space startup as it scales spacecraft, software, and autonomous systems designed for national security missions in orbit. The round values the company at around $2.2 billion and brings total funding to over $1 billion since its 2022 founding, and the company plans to use the capital to accelerate mission deployments, expand manufacturing, and grow its workforce as demand increases for space-based defense capabilities. - learn more
        • Clocktower Technology Ventures participated in Clarasight’s $11.5M Series A, backing the AI-powered travel and expense platform as it works to unify fragmented enterprise data into a single system. The round was led by AlleyCorp with participation from several travel and fintech-focused investors, and the company plans to use the funding to expand product development and scale go-to-market efforts as demand grows for AI-driven efficiency in corporate travel. - learn more
        • Halogen Ventures and Mucker Capital participated in SkyfireAI’s $11M seed round, backing the startup as it builds an AI-native platform for coordinating autonomous, multi-drone operations. The company’s software is designed for public safety and defense use cases, helping teams deploy and manage fleets of drones with greater speed and efficiency without increasing staffing, and it plans to use the funding to accelerate product development, expand its team, and scale deployments with government and mission-critical customers as demand grows for autonomous drone systems. - learn more
        • Matter Venture Partners led OpenLight’s $50M Series A-1, with participation from Acclimate Ventures, Catapult Ventures, and existing investors, backing the photonics company as it scales its next-generation chip platform for AI infrastructure. The funding brings total capital raised to $84M and will be used to accelerate global deployment of its silicon photonics technology across data centers, telecom, and other high-bandwidth applications. - learn more
        • Alexandria Venture Investments participated in Fathom Therapeutics’ $47M Series A, backing the biotech startup as it applies quantum chemistry and AI to design next-generation small molecule drugs. The oversubscribed round was led by Sutter Hill Ventures with participation from Chemistry and other investors, and the company plans to advance its platform, which simulates protein behavior inside living cells to accelerate drug discovery. - learn more

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          Netflix Doubles Down on LA

          🔦 Spotlight

          Hey Los Angeles.

          Goodbye Coachella, hello Stagecoach. The desert doesn’t stay quiet for long, and neither does LA’s entertainment machine.

          This week, that momentum showed up in a more permanent way.

          Netflix is expanding its footprint in Los Angeles with a major move to take over and invest in Radford Studio Center, a historic production lot in Studio City. The company is planning a long-term transformation of the site, with upgrades to soundstages, production offices, and infrastructure designed to support the next generation of film and television production.

          It’s a notable shift in a moment when production has been under pressure in California, with studios increasingly looking outside the state for cost advantages. Netflix going deeper in LA, and specifically into a legacy studio lot, signals a different kind of commitment. Not just to content, but to where that content actually gets made.

          And it comes at a time when the streaming wars have matured. Growth is harder, budgets are tighter, and the focus has shifted from scale at all costs to efficiency and control. Owning or operating more of the production environment gives Netflix tighter control over timelines, costs, and output.

          For Los Angeles, it’s a reminder of what still anchors the city. Even as AI, defense tech, and infrastructure startups continue to rise, entertainment remains one of the few industries where LA isn’t just competitive, it’s foundational.

          Different headlines each week, but a consistent theme underneath them. Whether it’s power, autonomy, or content, the companies that matter are investing in the layers they don’t want to outsource.

          And in this case, that layer is Hollywood itself.

          Below are this week’s venture deals, fund announcements, and acquisitions across LA 👇


          🤝 Venture Deals

            LA Venture Funds

            • UP Partners and Calm Ventures participated in Reliable Robotics’ $160M funding round, backing the autonomous aviation company as it advances pilotless flight technology for cargo and passenger aircraft. The round included a mix of new and existing investors, and the company plans to use the capital to accelerate certification efforts and expand deployment of its autonomous systems across commercial aviation. - learn more
            • Blue Heron Ventures participated in Tava Health’s $40M Series C, backing the company as it expands its tech-enabled mental health platform into a more integrated, full-stack system for providers, employers, and health plans. The round was led by Centana Growth Partners with participation from existing investors, and the company plans to use the funding to roll out new AI-powered tools and broaden access to care while reducing administrative friction across the system. - learn more
            • Vamos Ventures participated in Zócalo Health’s $15M Series A, backing the company as it scales its tech-enabled, community-based primary care model focused on high-need and underserved populations. The round was led by .406 Ventures with participation from existing and new investors, and the company plans to use the funding to expand its clinics and deepen partnerships with Medicaid programs as demand for accessible care grows. - learn more

            LA Exits
            • Studio71 has been acquired by Fixated as part of a broader deal in which German media company ProSiebenSat.1 sold its North American creator business, giving Fixated a large-scale network of creators and podcast operations and significantly expanding its footprint as it continues an aggressive roll-up strategy in the creator economy. The move signals continued consolidation in the space, with Fixated building a more vertically integrated platform across talent management, content production, and distribution. - learn more
            • Bonsai Health has been acquired by ModMed, bringing its AI-powered patient engagement platform into a broader healthcare software ecosystem. The deal is aimed at integrating Bonsai’s “agentic AI” capabilities into ModMed’s platform to automate patient outreach, fill care gaps, and improve scheduling across a network of nearly 50,000 providers. - learn more

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