Southern California's startup scene set a new record in the first half of this year with $330 million in seed deals, according to data from Amplify's latest LA Seed Report. When compared to the first half of 2020, seed deal volume in the city spiked 35% in 2021. Among the big winners in Southern California were ecommerce and consumer-focused startups.
By sector, software-as-a-service (SaaS) startups continue to absorb the most seed dollars in L.A. They raised $121.2 million across 44 companies in the first half of the year. Take our Twitter poll and tell us, what type of startup you'd back if you were an early-stage VC.
LA Startups To Watch 👀
🎮 A new L.A. gaming startup founded by two Riot Games alums is getting backing from VC heavyweights Andreessen Horowitz and Galaxy Interactive. Elodie Games this week announced it raised $32.5 million in a Series A round.
👜 Tracy DiNunzio wants to kill fast fashion. And her peer-to-peer online fashion marketplace Tradesy is winning the hearts of investors by focusing on environmentally conscious fashion.
🤓 Geek ecommerce app Whatnot reached a $1.5 billion valuation after its latest round of funding. But can it compete with GOAT, the high-flying Los Angeles-based sneaker shop valued at $3.7 billion?#TechLA's Movers & Shakers This Week 📢
🔎 CreatorIQ uses artificial intelligence to determine how engaged social media stars are and with which audiences. This week, it raised $40 million to build out its brand and influencer software.
💸 Charity fundraising platform Omaze, which offers celebrity meet-and-greets and other fundraising experiences, landed its most high profile client this year: billionaire Richard Branson. It's hoping to take off with the backing of celebrity backers including Bono, Tom Brady, Kerry Washington and others.
🌭 Appetize, a Playa Vista-based mobile ordering service that delivers food at Dodgers games and other large venues, was gobbled up for $415 million by SpotOn.
🏠 Pacaso wants to sell you a stake in a top-tier second home, and it just raised $125 million to do so — that is, if you're among the minority of homeowners who can afford one.
LA Tech and Venture Capital News 🗞
💰 A new influx of funds to VC firm Fifth Wall's Early-Stage Climate Technology Fund is helping it gain on its goal of $200 million.
🚚 San Francisco-based autonomous trucking company Embark is is partnering on a new pilot program in Los Angeles with computer hardware giant HP Inc.
🪑 Outer is expanding to furnish hotels, shopping malls and other business with its throw pillows and outdoor couches. The company announced on Thursday that it raised $50 million in a Series B round.
🕶 Virtual reality is for more than just gaming. A recent study found children who used VR during procedures felt less pain and anxiety, opening the door to a new role for the technology in pain management.Listen Up 🎙
Need a podcast recommendation this weekend? Here are some new pods we have for you:
🎙 Threshold Ventures' Chirag Chotalia talks about his journey in the venture capital world on this episode of LA Venture. Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.
🎙 Logan Hollowell grew up in North Carolina's Outer Banks, moved to California at 17 and is now the founder and CEO of a fast-growing jewelry startup. Hollowell talks about how her humble background helped spur her to success on this week's episode of Behind Her Empire. Listen on Stitcher, Apple Podcasts, Spotify, iHeart Radio or wherever you get your podcasts.🚨 EXTRA EXTRA 🚨
🗳 Gov. Gavin Newsom beat the recall this week. His victory suggests the state's cozy ties to the tech industry will go uninterrupted — at least until voters flock to polls again to select a governor on November 8, 2022.
🛰 The defense industry soared in the years since 9/11. We look at six ways Southern California companies grew during the war years.
💉 This week, L.A. County set new requirements for indoor venues including clubs, bars and wineries by requiring proof of vaccination.
⚡️ The upcoming LA Auto Show will be all about electric vehicles and a rapidly changing automotive industry. Here's a preview.
LA Tech and Venture Capital Events 💬
Check out these upcoming Southern California events in the tech and startup scene in October:
- Event: CannMed 2021: Sept. 29 - Oct 1
- Event: 2021 Equity Crowdfunding Week: Oct 4-8
- Event: Space Tech Expo USA 2021: Oct 7-8
- Event: AI LA Life Summit 2021: Oct 21
- Event: Wonder Women Tech 2021: Oct 26-29
- Event: MedTech Innovation Forum 2021: Oct 28-29
Is your organization having an event? Let us feature it in our newsletter! Email luis@dot.la.
Am I doing this right? 🤔
Throw me feedback, compliments or questions on this newsletter at luis@dot.la or on Twitter at @rungomez.