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

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow 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

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

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.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

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.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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