Coronavirus Updates: Newsom Talks Businesses Opening; Wave Hosts Virtual Concerts; Film Release Rumblings

Coronavirus Updates: Newsom Talks Businesses Opening; Wave Hosts Virtual Concerts; Film Release Rumblings
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Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

  • Newsom eyeing how to reopen businesses -- at least in parts of the state
  • No concerts? No problem. Wave to host virtual performance series with avatars
  • Trolls scores $100 million in revenue from streaming, bypassing shuttered theaters; AMC lashes out

    Newsom says eyeing how to reopen businesses -- at least in parts of the state

    live.staticflickr.com

    Los Angeles startups like Bird, ZipRecruiter, Shipsi and Tender Greens have been slammed in the fallout of the COVID-19 pandemic, being forced to layoff and furlough vast portions of their workforce. There was a glimmer of hope Tuesday that perhaps some businesses are getting closer to getting back to work. Gov. Gavin Newsom said Tuesday that he believes the state is "weeks, not months, away from making meaningful modifications" to its current shelter-at-home restrictions.

    However, Newsom's announcement of a four-phase plan did not mention any specific dates in which non-essential business can open their doors. He said the state is examining data, and that additional progress needs to be made. During the same press conference, he said California education and health officials are examining even opening up school districts in certain parts of the state in late July or August. However, he is leaving many of the major decisions to regions of the state. Los Angeles County announced it surpassed 1,000 deaths on Tuesday from the coronavirus.

    No concerts? No problem. Wave to host virtual performance series with avatars 

    Wave

    Wave, an L.A.-based entertainment technology company, announced it will host a series of virtual concerts throughout the spring and summer. Performers will include John Legend, Tinashe, and Galantis, the last of whom will kick off the "One Wave" series on Thursday, April 30. "Through our proprietary technology and core gaming capabilities," said Wave CEO Adam Arrigo in a statement, "Wave can go beyond the traditional live streaming concerts and create artist avatars, virtual environments and interactive experiences that truly immerse audiences at the nexus of gaming and entertainment."

    "Performances will stream across various social media and gaming platforms, so fans can socialize and interact with the artists as they perform, cheer as part of a global avatar audience, voting on key show moments, play mini games, and socialize with each other," the statement continued. Wave, founded in 2016, claims that up to 500,000 fans have tuned in to its past virtual concerts. Proceeds from the One Wave series will go to non-profit organizations that could use a hand during the coronavirus pandemic, the company said.

    Trolls scores $100 million in revenue from streaming, bypassing shuttered theaters

    upload.wikimedia.org

    Universal Pictures' Trolls World Tour earned nearly $100 million in revenue over three weeks via streaming, The Wall Street Journal reported today. The sequel reportedly has already earned more revenue than the original Trolls film did over the five months of its traditional-style theatrical release. Theater owners have long fought for exclusive exhibition windows at the beginning of a film's release cycle, but with venues shuttered due to the coronavirus, studios have begun to look at streaming as an option to circumvent this entrenched arrangement.

    The encouraging figures (which may have been boosted by circumstances) could add momentum to the theater-window paradigm's further unraveling. But not if the theater owners have their say. AMC, the nation's largest theater chain, already threw down the gauntlet pledging to boycott all Universal movies: "Effectively (sic) immediately AMC will no longer play any Universal movies in any of our theatres in the United States, Europe or the Middle East," AMC CEO and President Adam Aron said in a statement. "This policy affects any and all Universal movies per se, goes into effect today and as our theatres reopen, and is not some hollow or ill-considered threat."

    Forget Traffic: Air Taxis Are Coming to LA28

    🔦 Spotlight

    Hello Los Angeles,

    The future just got a flight plan, and it includes skipping traffic for the 2028 Olympics.

    Image Source: Archer

    This week, Santa Clara-based Archer Aviation made headlines (and history) by being named the official air taxi provider for the LA28 Olympic and Paralympic Games and Team USA. Yes, that means electric vertical takeoff and landing (eVTOL) aircraft will be soaring above the gridlocked freeways, whisking athletes, officials, and perhaps a few lucky spectators through LA’s famously congested skies.

    This isn’t just a flashy PR stunt (although, let’s be honest, it is peak LA). It’s a strategic move to redefine how we move around the city, especially during one of the largest global events ever to hit Southern California. In partnership with the LA28 Organizing Committee, Archer plans to deploy its Midnight aircraft, an all-electric air taxi that promises ultra-quiet, zero-emission rides from point A to point OMG-I’m-not-in-traffic.

    While Archer is headquartered in Santa Clara, it has deep ties to the LA tech ecosystem. United Airlines, one of its major partners, has previously announced plans to establish eVTOL routes between downtown and LAX. Pair that with this new Olympic milestone and we’re looking at LA as ground zero for what could become the world’s first large-scale urban air mobility network.

    Of course, there are still regulatory hurdles, infrastructure needs, and airspace coordination issues to iron out before we can book our sky ride to the Coliseum. But make no mistake, this announcement is a moonshot moment for LA tech, mobility, and the future of Olympic-scale transportation.

    We’ll be keeping our feet on the ground (for now), but we’ll definitely be watching the skies.

    Catch you next week ✈️✨

    🤝 Venture Deals

    LA Companies

    • Akido, a Los Angeles-based health tech company, has raised $60M in Series B funding led by Oak HC/FT to expand the reach of its AI-powered clinical tool, ScopeAI. The platform assists physicians by generating clinical questions, documenting patient responses, and drafting care plans in real time. The funding will help Akido scale its technology across its provider network and expand into new markets like New York City. - learn more
    • Reflect Orbital, a startup developing satellite-based sunlight delivery systems, has raised $20M in a Series A round led by Lux Capital. The company plans to use the funding to expand its team, scale operations, and prepare for its first satellite launch in Spring 2026. Reflect Orbital’s technology aims to reflect sunlight from space to Earth, enabling nighttime illumination for energy, remote operations, and civil infrastructure. - learn more
    • Rolli, an AI-powered platform designed to support fact-based journalism, has received an investment from the NYU Impact Investment Fund (NIIF). This marks NIIF's first investment in a media company, underscoring its commitment to backing ventures that enhance democratic institutions through innovation. Rolli's platform connects journalists with a diverse range of vetted experts, aiming to streamline news production and promote equitable representation in media. The funding will help Rolli expand its reach and further develop tools that empower journalists to produce accurate and impactful reporting. - learn more

      LA Venture Funds

      • CIV and Wonder Ventures participated in The Nuclear Company’s $46.3M Series A round to support its plan to develop large-scale nuclear reactor sites across the U.S. CIV co-founder Patrick Maloney also co-founded the company, which is taking a “design-once, build-many” approach to modernize nuclear construction. The funding will help meet rising energy demands from sectors like AI and data centers. - learn more
      • WndrCo participated in Cartwheel's recent $10M funding round. Cartwheel is an AI-driven 3D animation startup that enables creators to generate rigged animations from text prompts and videos. The funding will support Cartwheel's efforts to simplify and democratize 3D animation production. - learn more
      • Crosscut Ventures participated in Solestial's $17M Series A funding round, which aims to scale the company's production of radiation-hardened, self-healing silicon solar panels for space applications. Solestial plans to increase its manufacturing capacity to 1 megawatt per year, matching the combined annual output of all U.S. and EU III-V space solar companies. This investment supports the growing demand for cost-effective, high-performance power systems in the expanding space industry. - learn more
      • Upfront Ventures participated in Tern's $13M Series A funding round, adding to its earlier $4M seed investment in the travel tech startup. Tern offers an all-in-one platform for travel advisors, streamlining itinerary building, CRM, and commission tracking. The new funding will help Tern enhance its product offerings and expand support for its growing user base. - learn more
      • Dangerous Ventures participated in Verdi's $6.5M seed funding round, supporting the Vancouver-based agtech startup's mission to modernize farm irrigation systems through AI-powered automation. Verdi's technology retrofits existing infrastructure, enabling precise, row-level control of irrigation, which helps farmers reduce water usage and labor costs. The investment aligns with Dangerous Ventures' focus on climate resilience and sustainable food systems. - learn more
      • Pinegrove Capital Partners participated in Saildrone's recent $60M funding round, supporting the company's expansion of its autonomous maritime surveillance technology into Europe. The investment will aid in deploying Saildrone's uncrewed surface vehicles for enhanced maritime security and defense applications across European waters. - learn more
      • Starburst Ventures participated in a €2 million seed funding round for French defense tech startup Alta Ares, which specializes in embedded AI and MLOps solutions for military applications. Alta Ares' technologies, including the Gamma platform for real-time video analysis and the Ulixes platform for managing operational data lifecycles, operate autonomously without the need for internet or cloud connectivity. This funding will support the industrialization of these solutions and expand their deployment across European armed forces and NATO allies. - learn more
      • Nomad Ventures participated in Stackpack’s recent $6.3M seed funding round, supporting the company's mission to streamline vendor management for modern businesses. Stackpack offers an AI-driven platform that provides finance and IT teams with a centralized system to oversee third-party vendors, manage renewals, and mitigate compliance risks. The investment will enable Stackpack to expand its operations, enhance its platform, and introduce new features like the "Requests & Approvals" tool, aimed at simplifying vendor onboarding and procurement processes. - learn more
      • Tachyon Ventures participated in Stylus Medicine's $85M Series A funding round, supporting the biotech company's development of in vivo genetic medicines. Stylus aims to simplify gene editing by enabling precise, durable CAR-T therapies delivered directly inside the body, potentially transforming treatment for various diseases. - learn more
      • Up.Partners led a $28M Series A funding round for WakeCap, a construction tech startup that uses sensor-powered platforms to deliver real-time workforce visibility and site intelligence. WakeCap’s system tracks labor hours, safety, and productivity across large-scale projects, with over 150 million labor hours already monitored. The new funding will help the company expand globally, enhance product features, and grow its engineering and customer success teams. - learn more


        LA Exits

        • MediaPlatform, a leading provider of enterprise video solutions, has been acquired by Brandlive, a company renowned for bringing the magic of television to business communications. This strategic acquisition aims to enhance Brandlive's capabilities in delivering high-scale, reliable CEO town halls and global corporate broadcasts. By integrating MediaPlatform's robust infrastructure with Brandlive's creative video tools and production services, the combined entity seeks to offer more engaging and authentic internal content experiences for enterprise clients. - learn more
        • RHQ Creative, a studio renowned for its competitive Fortnite training maps, has been acquired by JOGO, the game development company founded by popular creator Typical Gamer (Andre Rebelo). This acquisition aims to bolster JOGO's expansion into the competitive gaming arena by integrating RHQ's expertise in skill-building and training map design. RHQ Creative, co-founded by Fortnite pro Quinn Gannon (RichHomieQuinn) and Sean Lugo, has achieved over 20 million map visits and 200 million hours of playtime. The deal includes full ownership of RHQ's map catalog and the addition of its team to JOGO, enhancing the company's capabilities in developing high-quality, competitive gaming experiences. - learn more

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            This LA Startup Wants to Make It Rain and Just Raised $25M to Do It

            🔦 Spotlight

            Hello LA!

            While most tech headlines are busy chasing AI chatbots and flying taxis, one startup in El Segundo is aiming a little higher. Literally.

            Rainmaker just secured$25 million in Series A funding to expand its cloud-seeding drone technology. The round was led by Lowercarbon Capital, with participation from Starship Ventures, 1517 Fund, Long Journey Ventures, Naval Ravikant, and others.

            Their idea is simple but urgent. Instead of relying on old-school aircraft to spray rain-making particles across the sky, Rainmaker uses AI-powered drones that find and seed clouds with pinpoint accuracy. It is faster, more affordable, and could reshape how regions fight back against droughts.

            California's ongoing water struggles have made it clear that simply "saving" water is not enough. Cities and entire economies need new tools to create it. Rainmaker plans to use the funding to grow its fleet, invest in atmospheric science, and expand commercial partnerships with utilities and governments searching for solutions.

            Bigger picture, Rainmaker is part of a growing shift in LA's tech ecosystem. While software remains dominant, more investors and founders are quietly betting on "hard tech" that addresses real-world problems like water, energy, and infrastructure.

            It is not just about apps anymore. It is about survival tech.

            With the skies getting hotter and the reservoirs getting lower, the next great tech export out of LA might not be entertainment or social media. It could be rain.

            Stay tuned…

            🤝 Venture Deals

            LA Companies

              • SimpleClosure, a Santa Monica-based startup that automates the business shutdown process, has raised a $15M Series A funding round led by TTV Capital. The company, which launched publicly in late 2023, helps startups and businesses navigate legal, regulatory, and compliance hurdles when closing down, using AI to streamline paperwork and communications. The new funding will support SimpleClosure’s platform growth and product expansion, as rising economic pressures create heightened demand for efficient dissolution solutions. - learn more

                LA Venture Funds

                • Alexandria Venture Investments participated in Haya Therapeutics’ $65M Series A funding round. Haya Therapeutics, which is developing precision RNA-guided medicines for chronic and age-related diseases, will use the capital to advance its lead therapeutic programs targeting heart failure and fibrosis. The company plans to expand its pipeline, invest in its discovery platform, and grow its team to accelerate clinical development. - learn more
                • Griffin Gaming Partners led a $7M funding round for Fuse Games, a gaming studio focused on developing new original IP. Fuse Games, founded by industry veterans with experience at major gaming companies, plans to use the funds to accelerate production of its first title and expand its team as it builds ambitious new gaming experiences. - learn more
                • Shamrock Capital has made a strategic growth investment in Neocol, a leading consulting platform that specializes in sales and AI-driven software solutions for subscription businesses. Neocol, which helps companies optimize revenue operations and digital transformations, plans to use the investment to accelerate its growth, expand its services, and further strengthen its leadership position in the Salesforce ecosystem. - learn more
                • Trust Fund participated in a $7.2M seed funding round for Agree.com, an all-in-one platform that combines e-signature and integrated payments, aiming to streamline and speed up service agreements. The company plans to use the new capital to grow its engineering team, expand integrations, and enhance payment capabilities to help service providers close deals faster. - learn more
                • Hyperlink Ventures participated in Orca AI’s $72.5M funding round. Orca AI, headquartered in London, develops AI-based navigation and collision-avoidance solutions to improve safety and efficiency for commercial shipping fleets. The funding will help Orca AI scale its autonomous shipping technologies, expand its team, and support global growth efforts. - learn more


                LA Exits

                • StoryFire, a social storytelling and video platform with over 2.5M users, has been acquired by Flashy Finance to launch a new platform called Flashy Social. The move aims to merge content creation with blockchain-powered financial tools, allowing creators to monetize through token incentives, streaming features, and community engagement. This acquisition supports Flashy Finance’s broader vision of building a cultural, creator-led financial ecosystem. - learn more
                • Jaanuu, Inc., a Los Angeles-based medical apparel brand known for its stylish and functional scrubs, has been acquired in an asset sale by VentureOn Management, LLC. The acquisition includes substantially all of Jaanuu's assets, encompassing its intellectual property, inventory, and customer relationships. VentureOn Management plans to continue Jaanuu's operations, focusing on delivering high-quality medical apparel to healthcare professionals. - learn more
                • Skechers has agreed to be acquired by 3G Capital in a deal valued at approximately $9.4 billion. Shareholders will receive either $63 per share in cash or $57 plus an equity unit in a new private parent company. Following the acquisition, Skechers will become privately held, maintain its Manhattan Beach headquarters, and continue to be led by its current management team. - learn more

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                  Biometrics, Crypto, and Comfort: New Tech Lands in LA

                  🔦 Spotlight

                  Happy Friday, Los Angeles!

                  This week, it's all eyes, quite literally, on LA's latest tech headlines.

                  Image Source: World

                  First up, World has officially touched down in the U.S., launching its ambitious biometric crypto project in six cities, including right here in Los Angeles. Cofounded by OpenAI CEO Sam Altman, World is betting big on a future where proving you're human is just a blink away. Their tool? An orb-shaped device that scans your eyes to create a "World ID," a decentralized digital passport built for the AI era. Verified users can then claim Worldcoin, a cryptocurrency aiming to become the first truly global digital currency. To tie it all together, World has rolled out the World App, a wallet to manage your ID and crypto and World Chain, a new blockchain designed to prioritize real people over bots. The ambition is bold. The stakes are high. And the question still lingers: How much privacy are we willing to trade for convenience?

                  Image Source: Lyft

                  Meanwhile, Lyft is rolling out the red carpet, or perhaps a comfortable seat cushion, for LA’s senior citizens. The rideshare giant just launched Lyft Silver in Los Angeles, offering older adults personalized support, live phone assistance, and specially trained drivers. It's a savvy play into an often-overlooked demographic, combining technology and empathy to serve a growing market of tech-savvy seniors. Will Lyft’s new approach give them an edge in LA’s competitive rideshare market? Stay tuned, and maybe text your grandma… she just might become Lyft’s latest power user.


                  🤝 Venture Deals

                  LA Companies

                    • True Classic, a Los Angeles-based apparel brand known for its better-fitting basics, has received its first institutional investment from 1686 Partners. This strategic partnership aims to accelerate True Classic's global expansion and diversify its product offerings to include women's and children's lines. The investment will also support enhancements in supply chain, logistics, and omnichannel retail operations, positioning the brand for continued growth in the global market. - learn more
                    • Chaos Industries, a Los Angeles-based defense technology startup, raised $275M in a Series C round led by Accel and New Enterprise Associates, valuing the company at $2N. The company develops advanced detection, monitoring, and communication systems for defense and commercial sectors. The funds will be used to expand product development, grow the team, and scale manufacturing operations. - learn more
                    • Apex, a Los Angeles-based spacecraft manufacturer, raised $200M in Series C funding to scale production of its productized satellite bus platforms. The company will use the funds to expand operations at its 50,000-square-foot facility and increase manufacturing capacity to meet demand from government and commercial customers. Apex aims to accelerate delivery timelines and support national security initiatives like the U.S. Department of Defense’s Golden Dome program. - learn more
                    • Deferred, a technology-driven Qualified Intermediary, has raised $3.6M in seed funding to modernize and democratize 1031 exchanges for everyday real estate investors. The funding round was led by B Capital and Fika Ventures, with participation from strategic investors. Deferred's platform offers AI-driven compliance, robust fund security, and a no-fee exchange model, aiming to make tax-deferred real estate transactions more accessible, secure, and efficient. The funds will be used to expand access to 1031 exchanges, ensuring that every investor, not just institutional players, can leverage this powerful wealth-building tool. - learn more

                    LA Venture Funds

                    • Village Global participated in Stately Bio's $12M seed funding round. Based in Palo Alto, Stately Bio is a biotech startup developing an AI-powered live-cell imaging platform that enables non-invasive, real-time analysis of cell behavior, enhancing regenerative medicine and cell therapy development. The funds will be used to scale the platform and expand its pipeline of stem cell-derived therapies. - learn more
                    • Riot Ventures participated in True Anomaly's recent $260M Series C funding round. Based in Centennial, Colorado, True Anomaly develops advanced spacecraft and software systems for U.S. national security missions, including its flagship Jackal vehicle designed for close-proximity operations in orbit. The funds will be used to support upcoming space missions, expand manufacturing capabilities, and grow the company's workforce. - learn more
                    • Navitas Capital led a $10.5M Series A funding round for Field Materials, a Charlotte, North Carolina-based startup that automates construction material and equipment procurement using AI. Field Materials' platform leverages proprietary large language models to process vendor quotes, delivery slips, and invoices, integrating the data into major construction accounting systems. This approach reduces purchase order and invoice processing time by 90%, improves margins, and helps construction companies secure volume pricing. The funds will be used to double Field Materials' team and triple its revenue in 2025, accelerating the delivery of AI capabilities to meet growing demand in the construction industry. - learn more
                    • Bold Capital Partners participated in Near Space Labs $20M Series B funding round. Based in Brooklyn, New York, Near Space Labs deploys helium balloon–lifted "Swift" robots to capture ultra-high-resolution aerial imagery from the stratosphere. The company plans to use the funds to expand its fleet and increase coverage, aiming to provide 7cm-resolution images to 80% of the U.S. population twice annually. - learn more
                    • Alexandria Venture Investments participated in a $15M Series A funding round for Hoofprint Biome, a Raleigh, North Carolina–based agtech startup. Hoofprint Biome develops enzyme-based feed additives aimed at reducing methane emissions from cattle while enhancing productivity. The company plans to use the funds to advance product development, conduct on-farm trials, and prepare for commercial launch. - learn more
                    • Finality Capital Partners participated in a $25M seed funding round for Miden, a privacy-focused blockchain protocol spun out of Polygon. Miden leverages zero-knowledge technology to offer fast, confidential transaction processing tailored for large institutions handling sensitive payment flows. The funding will support the development of Miden's ecosystem and developer tools, with plans to launch its main network by the end of the year. - learn more
                    • Overture VC participated in Glacier's $16M Series A funding round. Glacier, a San Francisco-based startup, develops AI-powered robotic systems designed to automate and enhance the efficiency of recycling processes at material recovery facilities (MRFs). The funds will be used to expand Glacier's operations, deploy its technology to more MRFs across the U.S., and further develop its AI and robotics capabilities to improve recycling rates and reduce environmental impact. - learn more
                    • Powerhouse Capital and Rideback participated in a $10M funding round for Cheehoo, a Los Angeles-based startup developing AI-powered tools to streamline 3D animation workflows. Cheehoo's platform integrates with industry-standard software like Maya and Unreal Engine, offering features such as AI-assisted character animation, speech-to-motion capabilities, and real-time collaboration tools. The company plans to use the funds to enhance its technology and expand its reach to a broader range of creators, from major studios to independent animators. - learn more
                    • Village Global participated in P-1 AI's recent $23M seed funding round. Based in Henderson, Nevada, P-1 AI is developing an artificial general intelligence (AGI) platform named Archie, designed to automate engineering tasks for physical systems. The company plans to use the funds to advance Archie's capabilities, starting with applications in data center cooling systems, and eventually expanding into sectors like industrial systems, automotive, and aerospace. - learn more
                    • TenOneTen Ventures led a $3.3M seed funding round for Domos, a startup developing an AI-powered workforce to streamline property management operations. Based in New York City, Domos' platform automates routine communications and workflows, enabling property managers to focus on higher-value tasks. The funds will be used to expand the company's engineering team and further develop its AI capabilities to enhance efficiency and resident experience. - learn more
                    • Leap Venture Studio participated in a $1M seed funding round for Buddy Bites, a Hong Kong-based dog food brand that donates to shelters with every order. The funds will support Buddy Bites' expansion in Hong Kong, Singapore, and the UK, with plans to enter Taiwan and launch new products later this year. Additionally, Buddy Bites joined Leap Venture Studio's 12-week accelerator program, gaining mentorship and access to a network of industry experts to further its mission of providing premium dog food while supporting animal shelters. - learn more

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