Rideshare startup HopSkipDrive is emerging from the pandemic as a stronger company thanks to its raise of $25 million in new funding from a Series C cash infusion from four firms: Energy Impact Partners, Keyframe Capital, FirstMark Capital and 1776 Ventures. The company says it plans to use the new funds toward vehicle electrification and to "continue reshaping school transportation."
⬆️ Streaming revenues dominated the $15.7 billion spent on home entertainment for the first half of this year.
🛒 Amazon is continuing to expand in Southern California with the lease of a large delivery station in Moorpark.
🚙 Irvine-based EV automaker Rivian is in talks to build a $5 billion factory in Texas.
⚡️ L.A.-based EVgo Inc. said its revenue went up in this year's second quarter to $4.8 million, compared to $4.1 million in the first quarter.
📺 PBS is adding nearly 3,000 new episodes of programming to its streaming platform, PBS Passport, and its PBS Video app.
📝 CoinList is seeking applicants for its seed program for cryptocurrency developers and entrepreneurs by August 16.
📝 SaaS accelerator TinySeed is seeking applicants for its one-year program by August 22.
📝 Leap Venture is seeking applicants for its bootcamp academy for underrepresented pet care entrepreneurs working on an early-stage idea or company by August 15.
Rideshare Startup Experiences ‘Explosive Growth’
If you recall, HopSkipDrive laid off more than half of its workers exactly one year ago when the pandemic forced students to stay home, essentially halting the company's rideshare services. With schools back to in-class sessions this fall, HopSkipDrive is planning a comeback that expands its services from 16 to 30 markets.
Snap Alums Launch Trust, Raise $9 Million
Trust, a Santa Monica-based startup launched by a group of former Snap employees, has raised $9 million to make the advertising process friendlier to smaller ecommerce companies and direct-to-consumer brands.
The West Coast Electric Highway Gets an Upgrade
Arcadia-based Electric Vehicle Charging Stations, or EVCS, is revamping nearly four dozen stations along the West Coast Electric Highway, a corridor that extends from British Columbia through Southern California.
Motional's Self-Driving Cars Come to LA
Motional's self-driving cars are coming to Los Angeles. The company says it will start testing vehicles in the city as it gears up to offer driverless ride hailing cars in the next two years. As part of its West Coast expansion, the company also plans to double its staff.
Ecommerce Subscription Model Is the Future, Says Upscribe CEO
Los Angeles-based Upscribe, which is coming out of stealth after nearly two years, thinks the subscription model is the future of ecommerce. This week, the company secured a $4 million seed round led by Uncork Capital.
LA-Based Nanotech Energy Raises $64 Million
Los Angeles-based Nanotech Energy announced Tuesday it raised $64 million in Series D funding to help the company expand its graphene battery operation. The company has so far raised $94.9 million in total at a $550 million valuation, following a nearly $30 Series C round earlier this year.