los angeles tech news

🌴 LA Firms Weigh In on California's Groundbreaking VC Diversity Law

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

🌴 LA Firms Weigh In on California's Groundbreaking VC Diversity Law
Cedric Letsch

Good Morning Los Angeles,

We want to acknowledge that it has been a long difficult week for many and we hope that everyone is taking care of themselves.

🔦 Spotlight

California Governor Gavin Newsom signed Senate Bill 54, the first U.S. law targeting diversity in venture capital. Starting March 1, 2025, VC firms operating in the state must annually report founder diversity. 📝🌍🤝

The law pertains to the following venture capital firms:

  • Headquartered in CA
  • With operations in CA
  • That have invested in companies that operate or are based in CA
  • That have received investments from residents of CA

They are required to annually report demographic data of the founders they support, including race, disability status, and sexual orientation. This information will be aggregated and made public, fostering transparency and accountability within the industry. The bill has been met with enthusiasm from tech policy advocates, who hope it will lead to increased funding for startups led by women, Black, and Latinx founders, addressing historical disparities in venture capital allocation.

In Los Angeles, pioneering firms such as M13 and Slauson & Co. are at the forefront of embracing the groundbreaking Senate Bill 54. Anna Barber, a Partner at M13 and Chair of the Pledge LA Advisory Committee, is dedicated to expanding access to capital for underrepresented founders and fund managers. M13, in fact, voluntarily tracks the diversity of their portfolio founders, understanding the pivotal role that data and accountability play in this pursuit. For Pledge LA, Senate Bill 54 represents a potential milestone towards achieving heightened transparency and uniform diversity across portfolios in California's venture ecosystem.

Slauson & Co.’s venture capital approach has been rooted in transparency and inclusivity from the very beginning based on a deep-seated belief in the untapped potential within historically underrepresented communities. They emphasize that transparency around inclusivity, far from being limiting, has exceeded expectations and has led to founders from diverse backgrounds approaching them with innovative ideas and businesses. Find out more about Slauson & Co.’s journey of transparency and diversity here.

Some organizations have expressed initial concerns about the law and potential unintended consequences and even Governor Newsom acknowledged the need to refine the bill's language for effective implementation and plans to address any problematic provisions in the 2024-2025 Governor's Budget. Moving forward, advocates aim to push for similar legislation in other states and countries, with the ultimate goal of fostering greater inclusivity and equity in venture capital investments. 👥💸📈

🎉 Don’t forget about our referral contest this month! 🎉

The contest is simple: whoever refers the most friends to dot.LA using our referral program by October 31st will get a coffee and conversation with Zillow, Pacaso, and dot.LA co-founder Spencer Rascoff, where you can pitch him, get business advice, or just shoot the breeze. This is a great opportunity for any current or future entrepreneur, so good luck referring! ☕️☕️☕️

P.S. If you’re not based in LA, you can hop on a Zoom instead 💻

🤝 Venture Deals

LA Startups

  • Machina Labs, a manufacturing robotics startup, raised a $32M Series B co-led by NVentures, NVIDIA’s venture capital arm, and Innovation Endeavors. - learn more
  • Commons Clinic, a startup that provides in-person and virtual orthopedic care to patients, raised a $19.5M Series A led by RA Capital Management, with participation from Time BioVentures and previous investors Floating Point and Courtside Ventures. - learn more
  • SuperOps.ai, a startup that creates cloud-native tools for managed service providers, raised a $12.4M Series B round co-led by Addition and March Capital, with participation from Matrix Partners. - learn more
  • Kino Studios, a startup that provides filmmakers with tools to create, engage, and monetize their target audience before distribution, raised a $2M+ Pre-Seed Round from Sequoia Capital's scout program, Slow Ventures, Metaweb Ventures, Genius Ventures, The Near Protocol, and Blockchain Founders Fund. -learn more
  • Sotai, a startup that aims to streamline the modeling of AI and machine learning applications, resulting in models that are easy to train, constrain, and comprehend, raised a $2M Seed Round led by Four Rivers. -learn more
  • Auriga Space, a startup developing ground-breaking electromagnetic technology for responsive, lower-cost, and sustainable space launches raised a $5M Funding Round led by Tucks Ventures with participation from Unlock Venture Partners. -learn more
  • Proteus Space, a satellite design and manufacturing startup, raised a $4.2M Seed Round led by Moonshots Capital with participation from Lavrock Ventures, The Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory and Industrious Ventures. -learn more

LA Funds

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✨Featured Event (11/9)✨

RECURRING REVENUE CONFERENCE on November 9th in Culver City

Southern California's premier SaaS and Subscription conference, this one-day event draws 600+ top founders, executives, investors, and Cloud experts. Experience a dynamic program with 20+ sessions, including keynotes, fireside chats, breakout sessions, and roundtable discussions. This year's insights span AI, metrics that matter, scaling strategies, making a pivot, and more. Keynotes include ChowNow and HackerOne CEOs. Attendees will enjoy plenty of networking time during breakfast, lunch, coffee cart breaks, and cocktails on the patio. Join us on November 9th at the Culver City Hilton to learn from industry leaders in the SaaS and subscription ecosystem.

Learn more and register using code DOTLA229 for a discounted ticket rate of $229. Register here.

If you're an early-stage founder, apply here for a $59 ticket.


📅 LA Tech Calendar

Monday, October 16th

  • Sharehouse E-commerce Dinner - Apply to join this invite only event which is bringing together top e-commerce founders and leaders. Join ShareHouse for a vibrant evening of networking and incredible food!

Tuesday, October 17th

Wednesday, October 18th

  • Global Growth Open Mic Night - Join Grow Big for a riveting afternoon event in Marina Del Rey where top brands and industry leaders take the stage, one after the other, to spill the beans on their electrifying journeys to digital global success.
  • Entrepreneur's Dinner - Santa Monica - Entrepreneur dinner to get together, share ideas and support one another. Entrepreneurs of all levels are welcome. Most attendees are full time business owners. New business owners and people running a businesses on the side are also welcome.
  • South Bay Tech & Aerospace Happy Hour - Join Startup Coil and Starburst’s tech and aerospace happy hour in El Segundo on Wednesday evening.

Thursday, October 19th

Thursday, October 26th

  • Expert DOJO Fall 2023 Cohort Demo Day! - Join Expert Dojo’s fall demo day to learn about the investment opportunities in their 10 newest investments! Sectors vary from artificial intelligence to gaming!

🌍 Around The Internet

Los Angeles Secures 4th Spot in PitchBook’s Global VC Ecosystem Rankings

Los Angeles' prominent position is due to its high development score, which takes into account factors such as deal value, deal count, exit value, exit count, fund value, and fund count from Q3 2017 to Q2 2023. Notably, Los Angeles lags behind the other leading VC developed ecosystems (San Francisco, New York, Beijing, and Shanghai) in terms of fund count. The average number of funds in the other ecosystems exceeds that of LA by over 200%. Despite this substantial difference in funds, both deal count and exit counts for these top VC developed ecosystems were only moderately higher than those in LA, with averages of 30% and 24% respectively shining light on the the substantial startup scene in Los Angeles. Find the full report here.

Source: Pitchbook as of June 30, 2023

📙 What We’re Reading

  • Waymo starts free robotaxi tour in LA neighborhoods. - read more
  • Discover how the streaming landscape is evolving as Los Angeles-based services face rising subscription costs, shedding light on the industry's shift towards on-demand content and its impact on consumers' wallets in an era of economic uncertainty. - read more
los angeles tech news
los angeles tech news

Standing Together Through the Flames

Grace Lee
Standing Together Through the Flames

🔦 Spotlight

To our Los Angeles family,

This week’s wildfires have brought immense pain and hardship to our beloved city. Many of our friends, neighbors, and colleagues have faced evacuations, power outages, and the devastating loss of homes and livelihoods. Our hearts go out to everyone affected by this tragedy.

At dot.LA, we want to express our deepest sympathy to those suffering in this moment. We see your resilience and stand with you during this challenging time. This community has always been defined by its strength and compassion, and now is the time to come together in support.

If You or Someone You Know Has Been Impacted, Resources Are Available:

Evacuation Shelters:

  • Calvary Community Church: 5495 Via Rocas, Westlake Village, CA 91362
  • Ritchie Valens Recreation Center: 10736 Laurel Canyon Blvd., Pacoima, CA 91331
  • Pan Pacific Recreational Center: 7600 Beverly Blvd., Los Angeles, CA 90036
  • Westwood Recreation Center: 1350 Sepulveda Blvd., Los Angeles, CA 90025
  • Pasadena Civic Auditorium: 300 East Green Street, Pasadena, CA 91101
  • Pomona Fairplex: 1101 W McKinley Ave, Pomona, CA 91768
  • Stoner Recreation Center: 1835 Stoner Ave, Los Angeles, CA 90025

Animal Shelters:

Small Animals:

  • Agoura Animal Care Center: 29525 Agoura Rd, Agoura Hills, CA 91301
  • Baldwin Park Animal Care Center: 4275 Elton St, Baldwin Park, CA 91706
  • Carson Animal Care Center: 216 W Victoria St, Gardena, CA 90248
  • Downey Animal Care Center: 11258 Garfield Ave, Downey, CA 90242
  • Lancaster Animal Care Center: 5210 W Ave I, Lancaster, CA 93536
  • Palmdale Animal Care Center: 38550 Sierra Hwy, Palmdale, CA 93550

Large Animals:

  • Pomona Fairplex: 1101 W McKinley Ave, Pomona
  • Industry Hills Expo: 16200 Temple Ave, City of Industry, CA 91744
  • Antelope Valley Fair: 2551 W Avenue H, Lancaster, CA 93536
  • Los Angeles Equestrian Center: 480 W Riverside Dr, Burbank, CA 91506
  • Pierce College Equestrian Center: 7100 El Rancho Dr, Woodland Hills, CA 91371

Disaster Relief Information:

  • LA County Assessor: Information for property owners and FAQs about disaster relief.

Mental Health Support:

  • Los Angeles County Department of Mental Health: Crisis counseling and support for those affected. Access services through their website or call their hotline at (800) 854-7771.

Temporary Housing Support:

  • Airbnb: In partnership with 211 LA, offering free temporary housing for displaced residents. Spaces are limited; complete the form to be notified of availability.

Transportation Support:

  • Uber: Use promo code WILDFIRE25 for 2 free rides up to $40 each to/from active shelters.
  • Lyft: Code CAFIRERELIEF25 offers 2 rides up to $25 each for up to 500 riders, valid until 1/15.
  • Metro: Fare collection is suspended systemwide.

Staying Informed:

  • Watch Duty App: Provides real-time wildfire tracking, evacuation warnings, and updates.
  • Los Angeles Fire Department Alerts: Visit their website for the latest information on fire status and safety guidelines.

Safety Precautions:

  • Ready, Set, Go!: Personal Wildfire Action Plan by the Los Angeles County Fire Department.

To those in our community who are volunteering, donating, or offering aid in any form—thank you. Your efforts embody the spirit of LA: strong, compassionate, and unstoppable.

At dot.LA, we’re committed to amplifying stories of resilience and support. If you’ve seen inspiring acts of kindness or have resources to share, please let us know. Together, we can shine a light on the incredible ways this community is stepping up during these trying times.

In the days ahead, let’s hold tight to the bonds that unite us and remember that we are stronger together. The fires may scar the land, but they cannot dim the collective spirit of Los Angeles.

We’re here for you, and we’re with you.

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    A Strong Finish to 2024 for LA Tech: Crosscut Ventures Leads the Way

    Grace Lee
    A Strong Finish to 2024 for LA Tech: Crosscut Ventures Leads the Way

    🔦 Spotlight

    Happy Friday LA!

    As we close the book on 2024, Los Angeles has had a remarkable year in tech and venture capital. From groundbreaking funding rounds to industry-defining innovations, the city’s tech ecosystem has showcased its ability to adapt and thrive. Among the year’s final highlights was the announcement that Crosscut Ventures, one of LA’s premier early-stage venture capital firms, has added Jon Ylvisaker as its newest Partner.

    Crosscut Ventures’ Bold New Direction

    Announced in late December, Jon Ylvisaker’s appointment reflects Crosscut Ventures’ commitment to advancing its focus on the energy transition. Ylvisaker brings decades of experience in driving investments in energy technologies and digital infrastructure. As the founding partner and managing director of Yield Capital Partners, he led investments in startups and established companies shaping the future of sustainability. At Wolfacre Global Management, a Tiger Management hedge fund, he further honed his expertise in supporting impactful climate-focused solutions.

    Brian Garrett, Managing Director and Co-Founder of Crosscut Ventures, said, “Jon's extensive experience in climate and digital infrastructure investments, coupled with his impressive track record of bringing groundbreaking technologies to market, makes him the ideal partner to help lead our focus.”

    Since its founding in 2008, Crosscut has played a key role in shaping LA’s tech landscape. Ylvisaker’s addition reinforces the firm’s commitment to addressing global challenges like energy transition and sustainability, further solidifying its leadership in venture capital innovation.

    What’s Next for LA Tech in 2025

    The momentum from 2024 has set the stage for an even bigger year ahead. Entrepreneurs, investors, and innovators in LA are poised to take on new challenges and create meaningful change across industries.

    As we step into 2025, we want to thank everyone who helped make 2024 such a standout year. Here’s to another year of progress, innovation, and success. From all of us at dot.LA, Happy New Year!

    🤝 Venture Deals

    LA Companies

    • First Resonance, a company specializing in digital manufacturing software through its ION Factory OS, has raised a $20M funding round led by Third Prime with participation from Blue Bear Capital and others. This brings its total funding to $36M and will be used to accelerate product development, grow its customer base, and enhance support for advanced manufacturing sectors like aerospace, robotics, and clean energy. - learn more
    LA Venture Funds
    • Finality Capital Partners led a $17M Seed funding round for ChainOpera AI, a California-based company developing blockchain networks for AI-powered agents and applications, to accelerate product development, expand its team and enhance its blockchain and AI integration capabilities. - learn more

    LA Exits

    • Thirteen Lune, an inclusive beauty e-commerce platform, has been acquired by SNR Capital, marking a significant milestone in the platform's mission to amplify underrepresented beauty brands while fueling its next stage of growth. - learn more
    • Ergobaby, a leading brand in juvenile products known for its high-quality baby carriers, has been acquired by Highlander Partners. The acquisition aims to bolster Ergobaby’s growth, expand its product offerings, and strengthen its position in the parenting solutions market. - learn more

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    Salt AI’s $3M Bet, Snapchat’s Creator Cash, Rivian’s EV Tech, and ŌURA’s $200M Win

    Grace Lee
    Salt AI’s $3M Bet, Snapchat’s Creator Cash, Rivian’s EV Tech, and ŌURA’s $200M Win

    🔦 Spotlight

    Happy Friday, LA - let’s dive right in to this week’s highlights:

    Salt AI, a forward-thinking AI startup based in Los Angeles, has secured a $3 million seed funding round led by Morpheus Ventures with participation from Struck Capital, among others, to tackle the complexity of managing workflows.Salt AI's blog details how its platform centralizes tools like CRM systems, project management software, and data trackers into one interface, eliminating inefficiencies and freeing up teams to focus on meaningful work. With new funding in hand, Salt plans to scale its platform and expand its reach, a move that underscores how AI can solve everyday business challenges.

    Image Source: Salt AI - Aber Whitcomb

    While Salt AI focuses on the workplace, Snapchat is doubling down on creators, with its latest updates introducing revenue-sharing opportunities and direct monetization features. The company’snewsroom update outlines how enhanced analytics will help creators better understand their audiences and sustain their work. The platform's latest updates introduce revenue-sharing opportunities and direct monetization features, along with analytics that give creators deeper insights into their audience. By making it easier for creators to grow and sustain their work, Snapchat positions itself as a key player in the creator economy, offering features that rival platforms like YouTube and TikTok.

    Image Source: Snap

    On the roads, Rivian is redefining what it means to drive an electric vehicle. The company’s latest software update includes advanced route planning, energy management tools, and customization options that make every trip more intuitive and efficient. Additionally, Rivian has introduced new entertainment features, including Google Cast, YouTube, and SiriusXM, as featured in Rivian’ssoftware spotlight, enhancing the in-cabin experience for drivers and passengers alike. This isn’t just about convenience; Rivian is showing how thoughtful software design can elevate the entire EV experience, blending practicality with sophistication.

    Image Source: Rivian

    ŌURA is making headlines with a fresh $200 million Series D funding round, with participation from Fidelity Management & Research Company and Dexcom, which now values the company at $2.55 billion. This investment, as reported byBusiness Wire, highlights the growing demand for wearable health technology and positions ŌURA as a leader in the space. With its sleek design and emphasis on actionable health insights, the funding will enable ŌURA to expand its reach and further integrate wearables into daily health management, strengthening its position in the competitive health tech market. With this funding, ŌURA aims to reach more users and expand its capabilities, further embedding wearables into daily health management.

    Image Source: ŌURA

    Stay tuned as Salt AI, Snapchat, Rivian, and ŌURA continue to evolve, offering us new ways to work, connect, and live better.

    🤝 Venture Deals

      LA Venture Funds
        • Undeterred Capital participated in a $7M Seed funding round for Portal, a Watertown, Mass.-based biotech company specializing in advanced intracellular delivery technology to drive innovations in biological research and cellular therapeutics. - learn more
        • Vamos Ventures participated in a $7.9M Series A funding round for Culina Health, a Hoboken, NJ-based company that provides personalized, science-based virtual nutrition care by connecting patients with registered dietitians, with plans to use the funds to expand its offerings for dietitians and patients, implement AI-driven tools to enhance care efficiency, and strengthen its leadership team through key hires. - learn more
        • Humans Ventures participated in a $3.8M Seed funding round for Hamming.ai, a San Francisco-based company specializing in automated tools for testing and optimizing voice agents, with plans to expand its platform, enhance reliability and perform, and accelerate product development. - learn more
        • Fifth Wall led, with participation from Starshot Capital and others, in a $9.5M Series A funding round for Mojave, a Sunnyvale, CA-based company developing energy-efficient commercial air conditioning technology. The funds will be used to accelerate the adoption of its innovative systems and reduce energy consumption in the cooling industry. - learn more
        • ReMY Investors participated in a $17M Series B funding round for Scripta Insights, a company that leverages data analytics to help employers and healthy plans reduce prescription drug costs, with the funds aimed at expanding its platform and scaling operations. - learn more
        • Mantis VC participated in a $16.5M funding round for Nuon, a company specializing in Bring Your Own Cloud (BYOC) solutions that streamline AI, data, and infrastructure software deployment. The funds will support product development, readiness for general availability in 2025, and efforts to expand customer acquisition. - learn more
        • B Capital participated in a $102M Series C funding round for Precision, a company developing minimally invasive brain-computer interfaces to treat neurological disorders, with plans to use the funds to expand its team, advance clinical research, and refine its AI-powered brain implant for helping users with severe paralysis operate digital devices using their thoughts. - learn more
        • The Games Fund led a $3M Seed funding round for Dark Passenger, a Poland-based game studio founded by veterans of The Witcher 3 and Cyberpunk 2077, to create an unannounced, innovative, first-person multiplayer PvPvE stealth-action game set in a distinctive universe inspired by feudal Japan and martial arts cinema. - learn more

            LA Exits

            • Calliope Networks, a generative AI company providing licensed media content like movies, TV shows, and news, has been acquired by Protege to strengthen its platform’s capabilities in advancing AI development. - learn more

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