This Week in ‘Raises’: Acorns Lands $300M, Griffin Gaming Partners Seals $750M Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

​A person using the Acorns fintech app.
Courtesy of Acorns

Raises is dot.LA’s weekly feature highlighting venture capital funding news across Southern California’s tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).


Venture Capital

Irvine-based fintech app Acorns raised $300 million in a Series F funding round led by private equity firm TPG.

Menlo Microsystems, an Irvine-based manufacturer of electronic switches, raised $150 million in Series C funding led by Vertical Venture Partners and Future Shape.

Slingshot Aerospace, an El Segundo-based space data and analytics startup, raised $25 million in Series A-1 funding led by Draper Associates and ATX Venture Partners.

A-Frame Brands, an L.A.-based developer of celebrity-led personal care brands, raised $11.2 million in seed funding led by Forerunner Ventures and Initialized Capital.

Gumball, an L.A.-based adtech platform connecting podcasts and advertisers, raised $10 million in Series A funding led by Union Square Ventures and Good Friends.

Immerse, an Irvine-based virtual reality language teaching and learning platform, raised $9 million in Series B funding led by Eagle Venture Fund and Mustang Creek Capital.

Kicks Crew, an L.A.- and Hong Kong-based ecommerce platform for sneakers, raised $6 million in Series A funding led by Gobi Partners, Pacific Century Group and DL Securities.

L.A.-based nutrition startup Uplifting Results Labs raised $6 million in funding, according to an SEC filing.

AI-powered job board Rolebot, based in L.A., raised $4.8 million in funding, according to an SEC filing.

Postcard Game Studio, an Irvine-based independent video game developer and publisher, received a $3.5 million seed investment from South Korean video game company Smilegate.

Freightpay, an L.A.-based payment platform for logistics and freight forwarders, raised $2 million in funding led by Defy.vc and Better Tomorrow Ventures.

Funds

Griffin Gaming Partners, a Santa Monica-based venture firm focused on the video game industry, closed a $750 million fund.

JPEG Fund, a South Pasadena-based Web3 investment fund, raised $15 million in funding from a solitary investor, according to an SEC filing.

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Cadence

Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
Courtesy of Rivian.

Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

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