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XE3 is Back, and LA Stands to Make Up for Lost Millions
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
E3 will return to the Los Angeles Convention Center next year, bringing with it tens of millions in much-needed revenue for the city.
After canceling the show in 2020 because of COVID, going online-only in 2021, then again canceling the entire event this year, E3 is finally coming back to Los Angeles in-person next year and this time it is betting that a new event company, ReedPop, can help the struggling show ascend back to the peak of pop culture.
ReedPop has experience running blockbuster events like New York Comic-Con and the annual Star Wars Celebration hosted by Lucasfilm in Anaheim, and that focus on fandom could help reel in more people willing to shell out up to nearly $1,000 for E3 passes.
Started by the Entertainment Software Association in 1995, the in-person E3 conference has been held in Downtown L.A. consistently since 2008. Originally E3 was created to be a trade show event, but over the years it's morphed into more of a fan service, with publishers spending millions on flashy show booths and swag to entice fans into pre-ordering or buying their latest title.
It’s not just locals who are expected to pour in and stimulate the local economy–there’s a sizable contingent of fans who travel from other states or internationally to post up in Los Angeles for the week of E3, plus higher-spending executives from overseas gaming firms with big bankrolls.
Some 65,000 E3 attendees booked over 29,000 hotel rooms during the last in-person conference in 2019. That plus food, transit costs and other spending brought in over $83 million for the city, Los Angeles City Tourism Department Executive Director Doane Liu told dot.LA earlier this year.
After taking a beating during the early years of the pandemic, L.A.’s hotel occupancy was at 54% in the fourth quarter of 2021, according to data from the Downtown Center Business Improvement District. That’s slightly up from the 49% occupancy rate in 2020 reported by the City Tourism Department, but still nowhere near full.
Liu told dot.LA in January that the city collects a tax on hotel rooms booked, which helps boost the city’s overall budget. It also will “practically give away the Convention Center” if organizers book a specific number of rooms, Liu said, which is part of a plan to entice business travelers to come to L.A.
Until next year, though, the L.A. Live district Downtown that was completed in 2009 to cater to event-goers will remain eerily quiet. E3 is one of the Convention Center’s biggest events, though it did just see “tens of thousands” of anime fans descend on Downtown for the annual Anime Expo in June.
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
🔦 Spotlight
Courtney Reum boasts quite the assortment of descriptors: 45-year-old American venture capitalist, Paris Hilton’s brother- in-law, entrepreneur, best-selling author, former Goldman Sachs investment banker, and now, professional soccer player. The former D1 soccer player at Columbia University, embarked on an unlikely journey to join a soccer team, Länk FC Vilaverdense, in Portugal's second division. With the help of Corey Woolfolk, a biotech executive and ex-pro player, Reum pursued his dream of playing professional soccer, targeting clubs in Turkey, Scandinavia, and Portugal. Vilaverdense took a chance on Reum, enticed not only by his sports skills but also by a substantial loan he offered to ease the club's financial strain, along with potential future investments and access to his business network.
To prepare for his debut, Reum invested heavily in a 10-week crash course involving intensive training, coaching, and medical care. Despite already being in good shape, he underwent specialized soccer-oriented strength and conditioning, overcoming injuries and utilizing services like cold plunges and body vibration therapy. Training was rigorous, with former pros guiding him as he balanced his venture capital duties, scaling back some hours at his LA-based firm, M13. On Sunday, May 5th, Reum was brought onto the field at minute 86 for his pro debut during the match against Torreense. Though his future involvement with the team remains uncertain, he will stay in Portugal until the end of the season.
🤝 Venture Deals
LA Companies
- Kino, a digital movie platform provider, raised a $2.35M Pre-Seed Extension led by ARK Venture Fund. - learn more
- Restaurant365, a company that provides a software platform for restaurants to manage accounting, inventory, payroll, and employee scheduling, raised a $175M Funding Round at a $1+ billion up valuation led by ICONIQ Growth, with KKR and L Catterton also contributing. - learn more
LA Venture Funds
- Ankona Capital co-led a $35M Funding Round for Canopy, provider of accounting software. - learn more
- Type One Ventures participated in a $5.6M Pre-Seed Round for Active Surfaces, a developer of flexible solar panels. - learn more
- Starshot Capital, a climate-focused VC firm based, raised $35m for Starshot Fund I for companies working toward ambitious decarbonization goals. - learn more
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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.
🛡️Meet the Defense Unicorn That Just Raised $250M to Stop Drone Swarms
11:19 AM | March 07, 2025
🔦 Spotlight
Hello, Happy Friday!
For this week's spotlight story, we're turning our attention to a monumental leap in defense technology achieved by Epirus, a dynamic startup based in Torrance that specializes in groundbreaking anti-drone systems. Recently, Epirus successfully secured a whopping $250 million in Series D funding, raising its total capital to over $550 million and solidifying its status as a unicorn in the defense tech sector.
Image Source: Epirus
At the heart of Epirus’s arsenal is Leonidas, a solid-state, directed energy system named after the fierce Spartan king. As formidable as its namesake suggests, Leonidas stands out by neutralizing unmanned systems and other electronic threats with unmatched precision—a vital capability in today’s digital battlefield where drones are increasingly common. Offering a high-tech shield against potential threats, Leonidas has established Epirus as a key player in modern warfare technology, underscored by significant contracts such as a notable $66 million deal with the U.S. Army in 2023.
Founded in 2018 by a visionary team including Joe Lonsdale, Bo Marr, Max Mednik, Nathan Mintz, Grant Verstandig, and John Tenet, Epirus combines expertise across technology, strategy, and security to push the boundaries of defense innovation. The collective experience and strategic foresight of its founders have propelled the company's rapid growth and technological advancements.
Looking to the future, Epirus plans to utilize this influx of capital to broaden its reach into international and commercial markets, enhance its team, fortify its supply chain, and establish a new training center in Oklahoma to further military preparedness.
This latest round of funding was led by 8VC and Washington Harbour Partners LP, accompanied by a diverse group of new and returning investors, including strategic defense partner General Dynamics Land Systems and seasoned investors like StepStone Group and T. Rowe Price Investment Management, Inc. New stakeholders such as Oppenheimer's Private Market Opportunities Vista VI Fund, NightDragon, Manhattan Venture Partners, Centaurus Capital LP, and Center15 Capital also joined, reflecting robust market confidence in Epirus’s innovative approach and future potential.
Keep an eye on Epirus as it navigates this exciting phase of growth and innovation. With its advanced technologies and strategic expansions, Epirus is not just responding to the challenges of today’s digital battlefield but is also setting the pace for tomorrow’s defense landscape.
🤝 Venture Deals
LA Companies
- Zeitview, a Los Angeles-based leader in AI-powered infrastructure inspections, has raised a $60M funding round led by Climate Investment, with participation from Upfront Ventures and others. The funds will be used to accelerate the development of its Visual AI technology and enhance its Insights software platform, supporting infrastructure sectors such as solar, wind, utilities, properties, and telecom throughout the asset lifecycle. - learn more
- Nervonik, a medical device company specializing in peripheral nerve stimulation for chronic pain relief, has raised a $13M Series A funding round led by U.S. Venture Partners (USVP). The funds will be used to advance the development of its next-generation nerve stimulation technology, aiming to provide effective, non-opioid pain management solutions. - learn more
- Mote, a company specializing in carbon-negative energy production, has secured $7M in the initial close of its Series A funding round. The investment was co-led by Nella Next and Preston-Werner Ventures. Mote converts agricultural and forestry waste into clean hydrogen through its Biomass Carbon Removal and Storage (BiCRS) technology, which also sequesters carbon dioxide. The funds will be used to advance its first commercial-scale facility, expand engineering capabilities, and accelerate strategic partnerships in the hydrogen and energy sectors. - learn more
- FastLane Labs, a developer of Maximal Extractable Value (MEV) infrastructure, has raised a $6M funding round led by Figment Capital and DBA. The funds will be used to develop a comprehensive liquid staking token on the Monad blockchain, aiming to build a sustainable MEV ecosystem that benefits users, decentralized applications (dApps), and stakers. - learn more
- Supergut, a company specializing in gut health products like powders, bars, and shakes containing resistant starches and prebiotic fibers, has secured a significant growth equity investment led by Full Frame Growth Partners, with participation from Alpha Edison, Rocana Venture Partners, Strand Equity Partners, and others. The funds will support new product innovation, retail expansion, and new hires. Additionally, Supergut has appointed Tracey Warner Halama, former CEO of Vital Proteins, as its new CEO to lead this next phase of growth. The company has experienced a 172% sales increase in 2024, driven by its 'GLP-1 booster' product. - learn more
- FairPlay, a Fairness-as-a-Service company, has raised a $10M funding round from Infinity Ventures, JPMorgan Chase, and Nyca Partners. FairPlay specializes in developing tools that help organizations identify and correct biases in their AI-driven decision-making processes, aiming to promote fairness and compliance in sectors like financial services and insurance. The company plans to use the funds to expand its operations and enhance its product offerings, furthering its mission to build fairness infrastructure for the internet and ensure safer AI adoption. - learn more
- ACID Labs, a leader in instant social gaming on messaging platforms, has raised $8M in funding led by a16z GAMES Speedrun and NFX, with participation from Fusion. The funds will be used to accelerate its mission of building viral instant games where people already connect, focusing on creating seamless, social-first gaming experiences. - learn more
- MelodAI, a company specializing in AI-generated content (AIGC) and multimodal AI agent services, has secured a new round of funding led by LF Labs. The funds will be used to advance product development and expand market presence in the Web3 and AI entertainment sectors, enhancing MelodAI's competitiveness in the global AIGC and AI agent service industries. - learn more
LA Venture Funds
- Fika Ventures led a $4.7M Seed funding round for Outmarket AI, a San Francisco-based intelligence platform designed to transform commercial insurance through AI-powered insights and automation. The funds will be used to accelerate platform innovation, expand the team, and establish strategic partnerships with leading brokers and carriers. - learn more
- FirstLook Partners participated in a $25M equity funding round for Flex, a Miami-based fintech company that provides an all-in-one finance platform for business owners. Flex offers services such as business banking, expense management, credit cards, and accounts payable automation. The company plans to use the funds to enhance its AI-driven accounts payable automation and expand its personal finance management services for business owners. - learn more
- B Capital led a $96M equity investment in Odeko, a New York-based all-in-one operations and technology partner for local coffee shops, cafes, and other food and beverage businesses. Including a $30M credit facility from Banc of California, the total funding amounts to $126M. Odeko plans to use the funds to fuel growth through new services and cost savings for customers, acquire businesses to extend its market reach and product offerings, and build out its leadership team. - learn more
- Presight Capital participated in a $2.2M Seed funding round for Needle, an AI-powered search and agent development platform based in San Francisco and Berlin. Needle enables organizations to access and manage data across various internal systems, integrating with tools like Confluence, Slack, Gmail, and Dropbox. The funds will be used to expand the engineering team, enhance core technology, and accelerate go-to-market initiatives. - learn more
- Village Global participated in a $2.8M Pre-seed funding round for Orpheus Ocean, a New Bedford, Massachusetts-based company specializing in deep-sea robotics. Orpheus Ocean develops autonomous underwater vehicles (AUVs) designed to enhance deep ocean and seafloor data collection. The funds will be used to conduct the first commercial demonstrations of their AUV technology, expand their technical team, and grow their fleet to support increased deployments in the coming year. - learn more
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