​First Resonance founders Neal Sarraf and Karan Talati.

Former SpaceX Engineer’s Platform for Makers of EV, Rockets and Air Taxis Raises $14M

Led by a former SpaceX engineer, First Resonance makes software for aerospace and electric car makers to manage their inventory, supply chain and manufacturing process.

Over the last year, the company has seen revenue shoot up 500% year-over-year and their customer base has doubled, according to the startup. This week, it raised a $14 million Series A to build out its flagship platform, ION.


CEO and co-founder Karan Talati wouldn’t share specific revenue figures but said two of the companies it works with, Santa Cruz-based Joby Aviation and Alameda-based Astra, went public over the last year which accelerated their demand for his company’s products.

“As their needs and their companies grow, our factory operating system is keeping up with them and growing into new needs,” Talati said.

While the three-year old company was originally created to service aerospace manufacturers, Talati and the team decided to target manufacturing across several industries in order to maximize its revenue potential.

“What all these companies have in common is some of these trends of electrification of moving towards (3D printing), to having kind of cyber-physical systems,” he said.

First Resonance’s team has grown from seven full-time employees earlier this year to 20 now, and there’s plans to hire more engineers. The company is based in Downtown LA but continues to work remotely during the pandemic.

Some of the changes coming to the ION platform will include tools to help manufacturing plants manage their supply chains, including allowing them to track inventory, parts purchasing and receipts. ION also has a function that can analyze these and other supply chain data to give builders a forecast of what they need to do in order to meet deadlines.

First Resonance has raised $19.3 million since its 2018 launch following this round. The Series A was led by new investor Craft Ventures, a heavy-hitting VC firm based in San Francisco. Craft Ventures has invested in and sold companies including Dapper Collectives (Brud), Bird, CloudKitchens, financing platform Affirm and Airbnb. The firm was also an early investor in SpaceX, where Talati worked as an engineer for three years. Existing investors Wavemaker Partners, Fika Ventures, Stage VP and Blue Bear Capital, which led First Resonance’s $3.5 million seed round in February, also participated in this round.

Talati said First Resonance isn’t targeting an IPO or sale any time soon, but said Craft is an important new backer because “they have an investment in a fast-scaling software-as-a-service business” like First Resonance.

Subscribe to our newsletter to catch every headline.

Cadence

In this episode of LA Venture, Julie Wroblewski talks about starting Magnify Ventures and helping modern families.

Wroblewski worked with Melinda French Gates to start Pivotal Ventures. For Wroblewski, it was her dream job as she got to lead venture capital investment strategy for five years. One of the focus areas at Pivotal was around caregiving innovation and American family homes.

Read more Show less
Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.

Pejman Nozad, a founding managing partner at Pear VC, joins this episode of LA Venture to discuss Pear VC's current initiatives, including its accelerator and fellowships. He's seen as one of the most successful angel investors in the area, and for good reason: he has made more than 300 investments in his lifetime.

Read more Show less
Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
RELATEDTRENDING
LA TECH JOBS
interchangeLA