LA Tech Updates: LA's Largest VC is Now a Public Benefit Corp; Treehouse Games Raises $2.6M

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • LA's Largest VC is Now a Public Benefit Corp
  • Treehouse Games Raises $2.6M

        'Collaborative' Game-Maker Treehouse Games Raises $2.6M

        Treehouse Games, founded by former Riot Games product lead Michael Chu and indie games studio veteran Ryan Sullivan, has raised $2.6 million in seed funding. The studio will focus on making collaborative games "to serve a growing, global audience of millions of people who use games as their favorite way to hang out," the company said in a statement.

        London Venture Partners (LVP) led the funding round. Bay Area-based Transcend Fund and Super Evil Megacorp CEO Kristian Segestrale also participated.

        Chu and Sullivan told dot.LA that "it's too early to go into specifics about the game, but our team is hard at work building an innovative cooperative game to bring friends and family together."

        "We want to create games that give you that feeling of camaraderie during a road trip, or the sense of generosity you get when buying your friend a cup of coffee," the founders said.

        Fifth Wall Venture Firm Is Now a B Corporation

        fifthwall.com

        Fifth Wall announced this week it is now a Certified B Corporation or "B Corp," which means it is legally required to consider the impact of its decisions on workers, customers, suppliers, community, and the environment.

        Fifth Wall is the largest venture capital firm focused on real estate tech, known as proptech. It announced the close of its second real estate technology fund last year, with $503 million in dry powder, making it the largest VC fund in Los Angeles.

        "It is incumbent upon all of us to take actionable steps towards building a more equitable and sustainable society," said Brendan Wallace, co-founder and managing partner at Fifth Wall. "We're grateful to the resources and community offered by B Lab to help our firm as we continue to educate ourselves and make changes within our own organization."

        Fifth Wall is now part of a cohort of 3,939 other B-Corps that include names like Ben & Jerry's, Allbirds, and Patagonia.

        The real estate industry accounts for 40% of the world's consumption of energy and Fifth Wall says it is ready to help make construction more sustainable. Earlier this year, the firm announced a new carbon impact fund.

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        🤫 The Secret to Staying Fit at Your Desk: 6 Essential Under-Desk Exercise Machines

        Health experts are sounding the alarm: our sedentary jobs are slowly killing us, yet we can't abandon our desks if we want to keep the lights on. It feels like we're caught between a rock and a hard place. Enter under-desk exercise machines – the overlooked heroes (albeit kind of goofy looking) of the modern workspace. These devices let tech professionals stay active, enhance their health, and increase their productivity, all without stepping away from their screens. Here are 6 fantastic options that will enhance the way you work and workout simultaneously.

        DeskCycle Under Desk Bike Pedal Exerciser

        This bike has nearly ten thousand five-star reviews on amazon. It works with nearly any desk/chair setup. It is quiet, sturdy and allows up to 40 pounds of resistance. If you are looking for an under-desk bike this is a fantastic option.

        Type: Under-Desk Bike

        Price: $180 - $200


        Sunny Health & Fitness Dual Function Under Desk Pedal Exerciser

        This under-desk bike is extremely quiet due to the magnetic resistance making it an ideal option if you work in a shared space. It doesn’t slip, has eight levels of resistance, and the option to work legs and arms. It’s about half the price of the DeskCycle bike making it a solid mid-range option for those looking to increase their daily activity.

        Type: Under-Desk Bike

        Price: $100 - $110


        Sunny Health & Fitness Sitting Under Desk Elliptical

        This under-desk elliptical comes in multiple colors if you really want to underscore that you are a quirky individual, in case an under-desk elliptical isn’t enough. This model is a bit heavy (very sturdy), has eight different resistance levels, and has more than nine thousand 5-star reviews.

        Type: Under-Desk Elliptical

        Price: $120 - $230


        DeskCycle Ellipse Leg Exerciser

        This under-desk elliptical is another great option. It is a bit pricey but it’s quiet, well-made and has eight resistance levels. It also syncs with your apple watch or fitbit which is a very large perk for those office-wide “step” challenges. Get ready to win.

        Type: Under-Desk Elliptical

        Price: $220 - $230


        Daeyegim Quiet LED Remote Treadmill

        If you have a standing desk and are looking to walk and work this is a fantastic option. This walking-only treadmill allows you to walk between 0.5 to 5 mph (or jog unless you have the stride length of an NBA forward). It is very quiet, which is perfect if you want to use it near others or during a meeting. You can’t change the incline or fold it in half but it is great for simply getting in some extra steps during the work day.

        Type: Under-Desk Treadmill

        Price: $220 - $230


        Sunny Health & Fitness Foldable Manual Treadmill

        This under-desk treadmill isn’t the most premium model but it is affordable and has an impressive array of features. It is a manual treadmill meaning it doesn’t need to be plugged in; it is foldable and offers an incline up to 13%. I personally can’t imagine working and walking up a 13% incline but if that sounds like your cup of tea, then I truly respect the hustle.

        Type: Under-Desk Treadmill

        Price: $150 - $200




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        🤠Musk Picks Texas and 🔥Tinder AI Picks Your Profile Pictures

        🔦 Spotlight

        Tinder is altering dating profile creation with its new AI-powered Photo Selector feature, designed to help users choose their most appealing dating profile pictures. This innovative tool employs facial recognition technology to curate a set of up to 10 photos from the user's device, streamlining the often time-consuming process of profile setup. To use the feature, users simply take a selfie within the Tinder app and grant access to their camera roll. The AI then analyzes the photos based on factors like lighting and composition, drawing from Tinder's research on what makes an effective profile picture.

        The selection process occurs entirely on the user's device, ensuring privacy and data security. Tinder doesn't collect or store any biometric data or photos beyond those chosen for the profile, and the facial recognition data is deleted once the user exits the feature. This new tool addresses a common pain point for users, as Tinder's research shows that young singles typically spend about 25 to 33 minutes selecting a profile picture. By automating this process, Tinder aims to reduce profile creation time and allow users to focus more on making meaningful connections.

        In wholly unrelated news, Elon Musk has announced plans to relocate the headquarters of X (formerly Twitter) and SpaceX from California to Texas. SpaceX will move from Hawthorne to Starbase, while X will shift from San Francisco to Austin. Musk cited concerns about aggressive drug users near X's current headquarters and a new California law regarding gender identity notification in schools as reasons for the move. This decision follows Musk's previous relocation of Tesla's headquarters to Texas in 2021.

        🤝 Venture Deals

        LA Companies

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        • Penguin Random House agreed to acquire comic book publisher Boom! Studios from backers like Walt Disney Co. - learn more

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        Top LA Accelerators that Entrepreneurs Should Know About

        Los Angeles, has a thriving startup ecosystem with numerous accelerators, incubators, and programs designed to support and nurture new businesses. These programs provide a range of services, including funding, mentorship, workspace, networking opportunities, and strategic guidance to help entrepreneurs develop their ideas and scale their companies.


        Techstars Los Angeles

        Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of LA.

        Location: Culver City

        Type of Funding: Pre-seed, early stage

        Focus: Industry Agnostic

        Notable Past Companies: StokedPlastic, Zeno Power


        Grid110

        Grid110 offers no-cost, no-equity programs for entrepreneurs in Los Angeles, including a 12-week Residency accelerator for early-stage startups, an Idea to Launch Bootcamp for pre-launch entrepreneurs, and specialized programs like the PledgeLA Founders Fund and Friends & Family program, all aimed at providing essential skills, resources, and support to help founders develop and grow their businesses.

        Location: DTLA

        Type of Funding: Seed, early stage

        Focus: Industry Agnostic

        Notable Past Companies: Casetify, Flavors From Afar


        Idealab

        Idealab is a renowned startup studio and incubator based in Pasadena, California. Founded in 1996 by entrepreneur Bill Gross, Idealab has a long history of nurturing innovative technology companies, with over 150 startups launched and 45 successful IPOs and acquisitions, including notable successes like Coinbase and Tenor.

        Location: Pasadena

        Type of Funding: Stage agnostic

        Focus: Industry Agnostic, AI/Robotics, Consumer, Clean Energy

        Notable Past Companies: Lumin, Coinbase, Tenor


        Plug In South LA

        Plug In South LA is a tech accelerator program focused on supporting and empowering Black and Latinx entrepreneurs in the Los Angeles area. The 12-week intensive program provides early-stage founders with mentorship, workshops, strategic guidance, potential pilot partnerships, grant funding, and networking opportunities to help them scale their businesses and secure investment.

        Location: Los Angeles

        Type of Funding: Pre-seed, seed

        Focus: Industry Agnostic, Connection to South LA and related communities

        Notable Past Companies: ChargerHelp, Peadbo


        Cedars-Sinai Accelerator

        The Cedars-Sinai Accelerator is a three-month program based in Los Angeles that provides healthcare startups with $100,000 in funding, mentorship from over 300 leading clinicians and executives, and access to Cedars-Sinai's clinical expertise and resources. The program aims to transform healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market, offering participants dedicated office space, exposure to a broad network of healthcare entrepreneurs and investors, and the opportunity to pitch their companies at a Demo Day.

        Location: West Hollywood

        Type of Funding: Seed, early stage, convertible note

        Focus: Healthcare, Device, Life Sciences

        Notable Past Companies: Regard, Hawthorne Effect


        MedTech Innovator

        MedTech Innovator is the world's largest accelerator for medical technology companies, based in Los Angeles, offering a four-month program that provides selected startups with unparalleled access to industry leaders, investors, and resources without taking equity. The accelerator culminates in showcase events and competitions where participating companies can win substantial non-dilutive funding, with the program having a strong track record of helping startups secure FDA approvals and significant follow-on funding.

        Location: Westwood

        Type of Funding: Seed, early stage

        Focus: Health Care, Health Diagnostics, Medical Device

        Notable Past Companies: Zeto, Genetesis


        KidsX

        The KidsX Accelerator in Los Angeles is a 10-week program that supports early-stage digital health companies focused on pediatric care, providing mentorship, resources, and access to a network of children's hospitals to help startups validate product-market fit and scale their solutions. The accelerator uses a reverse pitch model, where participating hospitals identify focus areas and work closely with selected startups to develop and pilot digital health solutions that address specific pediatric needs.

        Location: East Hollywood

        Type of Funding: Pre-seed, seed, early stage

        Focus: Pediatric Health Care Innovation

        Notable Past Companies: Smileyscope, Zocalo Health


        Disney Accelerator

        Disney Accelerator is a startup accelerator that provides early-stage companies in the consumer media, entertainment and technology sectors with mentorship, guidance, and investment from Disney executives. The program, now in its 10th year, aims to foster collaborations and partnerships between innovative technology companies and The Walt Disney Company to help them accelerate their growth and bring new experiences to Disney audiences.

        Location: Burbank

        Type of Funding: Growth stage

        Focus: Technology and entertainment

        Notable Past Companies: Epic Games, BRIT + CO, CAMP


        Techstars Space Accelerator

        Techstars Space Accelerator is a startup accelerator program focused on advancing the next generation of space technology companies. The three-month mentorship-driven program brings together founders from across the globe to work on big ideas in aerospace, including rapid launch services, precision-based imaging, operating systems for complex robotics, in-space servicing, and thermal protection.

        Location: Los Angeles

        Type of Funding: Growth stage

        Focus: Aerospace

        Notable Past Companies: Pixxel, Morpheus Space



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