From Elmo to Tony Soprano: HBO Max's Game Plan as Told By Two of Its Creators

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

From Elmo to Tony Soprano: HBO Max's Game Plan as Told By Two of Its Creators

HBO Max, the new streaming service from AT&T's WarnerMedia, launches Wednesday. Advertised as the place "where HBO meets so much more", HBO Max will debut with over 10,000 hours of content from a range of brands including HBO, Warner Bros., Cartoon Network and Turner, with characters as diverse as Elmo and Tony Soprano. This marks a culminating milestone in AT&T's massive integration that began in 2016 when it agreed to acquire Time Warner for $85.4 billion.


Widely viewed as both a streaming offering for content-hungry viewers, and as a value-add for AT&T's customers, HBO Max will hope to effectively absorb the 30 million or so current HBO customers into its initial subscriber count. Despite the head start, and the track records of a century-old studio and TV's most prestigious channel, industry onlookers have highlighted several challenges facing the new service.

HBO Max launches with over 10,000 titles across a range of content brands

One is its price. At $15 per month, HBO Max will cost more than any of its competitors in the video streaming space. That takes on greater weight given the number of competitors, including Netflix, Disney+, Amazon Prime Video, and NBCU's Peacock – all of which charge less than HBO Max. Then there is the fear of brand dilution. To grow the plateauing HBO subscriber base, HBO Max is staking out a competitive position built upon a broad mix of content ranging from upscale HBO series to more middlebrow fare like Big Bang Theory.

dot.LA caught up with two HBO Max leaders to learn about the key decisions leading to today and to explore the path ahead. Tony Goncalves oversees HBO Max's product, performance marketing, and data & analytics. Reporting to chairman Bob Greenblatt, Goncalves also runs Otter Media, a WarnerMedia subsidiary that houses several digital content companies. Goncalves spearheaded AT&T's acquisition of Time Warner and formerly led DirecTV's expansion into mobile content. Sarah Lyons, senior vice president of HBO Max's product experience, provided additional comment.

dot.LA: To stand out in this competitive space, it obviously helps to have good content, good data, and a good user experience. But what can you do if everyone else has those, too?

Goncalves: I think it's a misnomer that we're all competing to be the one platform that consumers go to. A variety of us are going to offer these platforms and consumers will have more than one. These new "super-networks" are emerging, in the form of an app that aggregates lots of content, and you stand out by what stories you're aggregating, and how you're curating and presenting them. The data tells us that consumers have 2-3 services today and are willing to pay for up to 4-6 — so our goal is to be one of those 4-6.

HBO Max users will be able to browse by "hub"

Lyons: We looked at research into consumer sentiment and saw that consumers value the experience just as much as they do the content. There's a common problem among customers with finding something to watch, because there's a sea of content out there. They're not quite confident that when they start a new show, it will be time well spent. We talked to them about that and learned on average it takes about nine minutes to find something to watch — and that 20% of them abandon it altogether because they get frustrated and give up. When we asked about recommendation engines, they started to kind of recoil; they had a visceral reaction. They'd say, 'How could a robot purport to know who I am or what I want?' They felt boxed in. So we kept all of that in mind as we were creating the product experience, and we felt like we had an opportunity to create a sweet spot with a service that blends the human touch in curation with underlying data for personalization.

Goncalves: We believe the opportunity is to present consumers a clean, clutterless experience and get away from that endless scroll by giving consumers the confidence that when they press on a tile, they'll be taken into a great story — which is not necessarily the case in the marketplace today. That's a real opportunity for differentiation.

In developing your launch slate of content, how did you decide how much original content you needed, how much catalog content you needed, and what kind of each?

Goncalves: If there were a formula, I'd be happy to walk you through that. But the reality is we had to

step back and define what we wanted to be when we grew up. We started with this incredibly valuable anchor of HBO. We were extremely fortunate that the service had garnered over 30 million paying subscribers over the years, but it had essentially peaked. So we started with the demographic we had — higher-income households, a bit more male — then morphed our programming to grow around that.

Lyons: The conundrum was how do you take those existing users and give them a new experience while keeping them comfortable, and at the same time target a new set of subscribers that are millennials, Gen Z, families, females, kids of all ages. How do you add them and keep the experience fresh and add all the content that goes along with it, yet keep it premium while not alienating subscribers? It was all a balance.

How do you approach the role of original versus licensed content?

Goncalves: You tend to see in the data that originals are the titles that drive people to subscribe, whereas the licensed content is what garners the engagement thereafter and keeps consumers on these platforms.

There's some concern that customers may be confused about the various HBO options – HBO, HBO Go, HBO Now, HBO Max — and, on top of that, people may be unclear about what they're entitled to based on their current HBO situation. AT&T is still negotiating with Comcast, as well as Amazon and Roku – which together control nearly 70% of the streaming device market – but as of today there are no agreements to bring HBO Max to those users. To what extent are you hopeful about resolving those negotiations?

Goncalves: I can't get into specifics of the negotiations themselves. But as we go forward, we want to bring everything together. We need to work with our distribution partners in order to do that, and I think you'll see that come to life, where we do come together and align on objectives. You'll see a lot of HBO Now apps turning into HBO Max apps overnight. As far as the folks that we're not aligned with, our hope and expectation is that we'll continue working with them and in the days and weeks to come, we'll come to an agreement. But the consumer has other options.

Tony Goncalves oversees HBO Max and is also CEO of Otter Media

In the sprint to launch, you had teams collaborating remotely across Los Angeles, Seattle, New York and Atlanta. How were they able to work together and meet the launch date target?

Goncalves: I wish you could see the big smile on my face right now. This could've turned out bad. We were uncomfortable two and a half months ago, until we saw these folks rally. We became proficient in Slack and in video calls. The tech teams in particular became proficient at coding at home, doing quality checks of the apps from home and doing quality control left and right — we had to put devices in people's homes and be really flexible. Then you look at the marketing team that had a marketing plan ready to go, anchored on things like March Madness, and all of a sudden those went away. But you saw a team showing up with a sense of purpose and working remotely and getting comfortable with needing to change the way they were operating and I think we're the better for it. I'm really, really proud of what we've done here and I think this pivot is something that I'm most proud of.

Speaking of pivoting, you've been involved in a lot of big, future-oriented business decisions. What have you learned about navigating a business transformation on a scale like this?

Goncalves: Business transformation at scale, in any business, is really, really tough. I think the only way that businesses succeed is if they have a clear definition of a goal – the beacon – and then a path to get there. It became really clear (for AT&T) that as a core connectivity company, being purely a pipe wasn't the path that the company needed to go. The question then became what value-add was needed to put on top of that. Video happens to be the most trafficked content over the network, so I think the clarity of the fact that the network and content needed to come together has really helped this company put a beacon out there as to what it ultimately needs to be. The hardest part is bringing the hundreds and thousands of employees along for the ride and getting them committed, and I think we've done that by articulating this marriage of content and connectivity.

You've been either in L.A. or traveling to L.A. for much of your career. How have you seen it evolve over the years as a business and tech hub?

Goncalves: If you just look at Playa Vista, and what it was and what it is, that alone gives you the answer, when you have a variety of more tech-oriented companies anchoring in and around Playa and Culver. I think it's fascinating, because the primary reason that that happens is talent acquisition. All these companies need talent, so these hubs tend to emerge out of the need for talent and that's what I've seen pop in L.A. A funny anecdote: I was doing a lot of traveling back and forth earlier in my career at DirecTV and I was looking to potentially buy a condo or house. I looked in Playa and I scratched my head as to why anybody would pay $500k for a place there. But today if you can find one apartment even for sale at anything under three-times that, you'd be lucky.

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Biometrics, Crypto, and Comfort: New Tech Lands in LA

🔦 Spotlight

Happy Friday, Los Angeles!

This week, it's all eyes, quite literally, on LA's latest tech headlines.

Image Source: World

First up, World has officially touched down in the U.S., launching its ambitious biometric crypto project in six cities, including right here in Los Angeles. Cofounded by OpenAI CEO Sam Altman, World is betting big on a future where proving you're human is just a blink away. Their tool? An orb-shaped device that scans your eyes to create a "World ID," a decentralized digital passport built for the AI era. Verified users can then claim Worldcoin, a cryptocurrency aiming to become the first truly global digital currency. To tie it all together, World has rolled out the World App, a wallet to manage your ID and crypto and World Chain, a new blockchain designed to prioritize real people over bots. The ambition is bold. The stakes are high. And the question still lingers: How much privacy are we willing to trade for convenience?

Image Source: Lyft

Meanwhile, Lyft is rolling out the red carpet, or perhaps a comfortable seat cushion, for LA’s senior citizens. The rideshare giant just launched Lyft Silver in Los Angeles, offering older adults personalized support, live phone assistance, and specially trained drivers. It's a savvy play into an often-overlooked demographic, combining technology and empathy to serve a growing market of tech-savvy seniors. Will Lyft’s new approach give them an edge in LA’s competitive rideshare market? Stay tuned, and maybe text your grandma… she just might become Lyft’s latest power user.


🤝 Venture Deals

LA Companies

    • True Classic, a Los Angeles-based apparel brand known for its better-fitting basics, has received its first institutional investment from 1686 Partners. This strategic partnership aims to accelerate True Classic's global expansion and diversify its product offerings to include women's and children's lines. The investment will also support enhancements in supply chain, logistics, and omnichannel retail operations, positioning the brand for continued growth in the global market. - learn more
    • Chaos Industries, a Los Angeles-based defense technology startup, raised $275M in a Series C round led by Accel and New Enterprise Associates, valuing the company at $2N. The company develops advanced detection, monitoring, and communication systems for defense and commercial sectors. The funds will be used to expand product development, grow the team, and scale manufacturing operations. - learn more
    • Apex, a Los Angeles-based spacecraft manufacturer, raised $200M in Series C funding to scale production of its productized satellite bus platforms. The company will use the funds to expand operations at its 50,000-square-foot facility and increase manufacturing capacity to meet demand from government and commercial customers. Apex aims to accelerate delivery timelines and support national security initiatives like the U.S. Department of Defense’s Golden Dome program. - learn more
    • Deferred, a technology-driven Qualified Intermediary, has raised $3.6M in seed funding to modernize and democratize 1031 exchanges for everyday real estate investors. The funding round was led by B Capital and Fika Ventures, with participation from strategic investors. Deferred's platform offers AI-driven compliance, robust fund security, and a no-fee exchange model, aiming to make tax-deferred real estate transactions more accessible, secure, and efficient. The funds will be used to expand access to 1031 exchanges, ensuring that every investor, not just institutional players, can leverage this powerful wealth-building tool. - learn more

    LA Venture Funds

    • Village Global participated in Stately Bio's $12M seed funding round. Based in Palo Alto, Stately Bio is a biotech startup developing an AI-powered live-cell imaging platform that enables non-invasive, real-time analysis of cell behavior, enhancing regenerative medicine and cell therapy development. The funds will be used to scale the platform and expand its pipeline of stem cell-derived therapies. - learn more
    • Riot Ventures participated in True Anomaly's recent $260M Series C funding round. Based in Centennial, Colorado, True Anomaly develops advanced spacecraft and software systems for U.S. national security missions, including its flagship Jackal vehicle designed for close-proximity operations in orbit. The funds will be used to support upcoming space missions, expand manufacturing capabilities, and grow the company's workforce. - learn more
    • Navitas Capital led a $10.5M Series A funding round for Field Materials, a Charlotte, North Carolina-based startup that automates construction material and equipment procurement using AI. Field Materials' platform leverages proprietary large language models to process vendor quotes, delivery slips, and invoices, integrating the data into major construction accounting systems. This approach reduces purchase order and invoice processing time by 90%, improves margins, and helps construction companies secure volume pricing. The funds will be used to double Field Materials' team and triple its revenue in 2025, accelerating the delivery of AI capabilities to meet growing demand in the construction industry. - learn more
    • Bold Capital Partners participated in Near Space Labs $20M Series B funding round. Based in Brooklyn, New York, Near Space Labs deploys helium balloon–lifted "Swift" robots to capture ultra-high-resolution aerial imagery from the stratosphere. The company plans to use the funds to expand its fleet and increase coverage, aiming to provide 7cm-resolution images to 80% of the U.S. population twice annually. - learn more
    • Alexandria Venture Investments participated in a $15M Series A funding round for Hoofprint Biome, a Raleigh, North Carolina–based agtech startup. Hoofprint Biome develops enzyme-based feed additives aimed at reducing methane emissions from cattle while enhancing productivity. The company plans to use the funds to advance product development, conduct on-farm trials, and prepare for commercial launch. - learn more
    • Finality Capital Partners participated in a $25M seed funding round for Miden, a privacy-focused blockchain protocol spun out of Polygon. Miden leverages zero-knowledge technology to offer fast, confidential transaction processing tailored for large institutions handling sensitive payment flows. The funding will support the development of Miden's ecosystem and developer tools, with plans to launch its main network by the end of the year. - learn more
    • Overture VC participated in Glacier's $16M Series A funding round. Glacier, a San Francisco-based startup, develops AI-powered robotic systems designed to automate and enhance the efficiency of recycling processes at material recovery facilities (MRFs). The funds will be used to expand Glacier's operations, deploy its technology to more MRFs across the U.S., and further develop its AI and robotics capabilities to improve recycling rates and reduce environmental impact. - learn more
    • Powerhouse Capital and Rideback participated in a $10M funding round for Cheehoo, a Los Angeles-based startup developing AI-powered tools to streamline 3D animation workflows. Cheehoo's platform integrates with industry-standard software like Maya and Unreal Engine, offering features such as AI-assisted character animation, speech-to-motion capabilities, and real-time collaboration tools. The company plans to use the funds to enhance its technology and expand its reach to a broader range of creators, from major studios to independent animators. - learn more
    • Village Global participated in P-1 AI's recent $23M seed funding round. Based in Henderson, Nevada, P-1 AI is developing an artificial general intelligence (AGI) platform named Archie, designed to automate engineering tasks for physical systems. The company plans to use the funds to advance Archie's capabilities, starting with applications in data center cooling systems, and eventually expanding into sectors like industrial systems, automotive, and aerospace. - learn more
    • TenOneTen Ventures led a $3.3M seed funding round for Domos, a startup developing an AI-powered workforce to streamline property management operations. Based in New York City, Domos' platform automates routine communications and workflows, enabling property managers to focus on higher-value tasks. The funds will be used to expand the company's engineering team and further develop its AI capabilities to enhance efficiency and resident experience. - learn more
    • Leap Venture Studio participated in a $1M seed funding round for Buddy Bites, a Hong Kong-based dog food brand that donates to shelters with every order. The funds will support Buddy Bites' expansion in Hong Kong, Singapore, and the UK, with plans to enter Taiwan and launch new products later this year. Additionally, Buddy Bites joined Leap Venture Studio's 12-week accelerator program, gaining mentorship and access to a network of industry experts to further its mission of providing premium dog food while supporting animal shelters. - learn more

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    From Metro Rails to Blended Wings: LA’s Transportation Era

    🔦 Spotlight

    Hello Los Angeles,

    Move over Coachella, hello Stagecoach. With crowds headed east, LA might feel a little quieter this weekend, but beneath the surface, the city is busy making moves that could shape the future of travel.

    Image Source: Metro

    First up: a major milestone at LAX.

    This June, the new LAX/Metro Transit Center Station will officially open, finally linking Metro's C and K Lines to a new ground hub near the airport.

    It marks the first real rail connection to LAX in the airport’s history, a major step for a city that has long been synonymous with gridlock.

    While the fully Automated People Mover system connecting the station to the terminals is still under construction and expected to open in 2026, the launch of the transit center is a critical piece of LA’s broader infrastructure upgrade ahead of the 2028 Olympics.

    Even if most travelers will still rely on cars or rideshares for now, it is a sign that even the most car-centric corners of the city are starting to shift.

    Image Source: JetZero

    Meanwhile, in Long Beach, a local aerospace startup is aiming to transform air travel altogether and just got a major boost.

    JetZero, a stealthy aviation company based in Long Beach, announced a new investment from United Airlines to advance its radical new aircraft design: the blended wing body.

    Unlike traditional tube-and-wing planes, JetZero’s blended design integrates the wings and fuselage into a single structure, reducing aerodynamic drag and dramatically improving fuel efficiency.

    United's investment is more than just financial support. It is a strategic bet on JetZero’s vision for cutting long-haul flight emissions in half, a critical goal as the aviation industry faces mounting pressure to decarbonize.

    JetZero plans to have its first full-scale prototype flying by 2027, and if successful, it could set a new blueprint for the next generation of commercial aircraft.

    For Los Angeles, it is another reminder that some of the boldest ideas shaping the future of mobility are being built right here in our own backyard.

    Planes, trains, and a city learning to move a little differently. Just another week in LA.

    🤝 Venture Deals

    LA Companies

    • Durin, an El-Segundo startup aiming to automate drilling for critical minerals exploration, has secured $3.4M in a pre-seed funding round led by 8090 Industries. The company is developing a sensor-equipped drilling rig capable of drilling 300 meters deep, gathering data to build an automation model. The funding will support the development of this technology, with the goal of enabling unattended drill rigs within two to three years. - learn more
    • Altruist, a Los Angeles-based custodian and software platform for registered investment advisors (RIAs), raised $152M in a Series F round led by GIC, bringing its valuation to $1.9 billion. The platform streamlines account opening, trading, reporting, and billing for over 4,700 advisors. The new funding will be used to accelerate product development, expand the team, and scale enterprise capabilities. - learn more
    • Sesh, a superfan engagement platform that connects artists with fans through interactive experiences, exclusive content, and live events, has raised $7M in funding led by Miura Global. The funds will be used to expand platform capabilities, onboard more artists, and enhance technology for deeper insights and engagement opportunities. - learn more
    • Khloud, a new consumer brand founded by Khloé Kardashian, has raised $12M in an oversubscribed funding round with participation from Jessica Bixby, Serena Ventures, William Morris Endeavor (WME), and Shrug Capital. The Los Angeles-based company is debuting with a protein-rich popcorn made from whole-grain corn and its proprietary “Khloud Dust” seasoning, delivering 7 grams of protein per serving. The funds will be used to expand into additional snack categories and scale retail distribution, beginning with a Target launch on April 29. - learn more

    LA Venture Funds

    • Anthos Capital co-led a $20M funding round for Theo, a New York-based crypto trading infrastructure startup. Theo enables retail investors to access institutional-grade trading strategies—such as high-frequency arbitrage and cross-chain funding rate optimization—through strategy-specific vaults, eliminating the need for technical expertise. The platform operates on a custom validator network that facilitates real-time execution across centralized and decentralized exchanges, enforcing margin requirements and system-wide overcollateralization. The funds will be used to expand Theo's validator infrastructure, integrate with additional financial platforms, and grow its user base. - learn more
    • Pinegrove Capital Partners participated in a $70M Series B funding round for Nourish, a New York-based startup offering AI-powered, insurance-covered virtual nutrition counseling. Nourish connects patients with registered dietitians to manage chronic conditions like obesity and diabetes, boasting a network of over 3,000 dietitians across all 50 states. The funds will be used to expand its provider network, enhance AI tools, and deepen partnerships with healthcare organizations. - learn more
    • Mantis VC participated in Chainguard's $356M Series D funding round. Based in Kirkland, Washington, Chainguard secures software supply chains by offering tools like secure containers, virtual machines, and libraries for open-source development. The funding will be used to expand product offerings, grow the go-to-market team, and support its expanding customer base. - learn more
    • Clocktower Technology Ventures participated in a $30M Series C funding round for Steadily, a landlord insurance provider based in Austin, Texas, and Overland Park, Kansas. Steadily offers tailored insurance solutions for rental property owners, serving policyholders across all 50 U.S. states. The funds will be used to expand operations, enhance technology, and grow the team, aiming to streamline the insurance process for landlords. - learn more
    • Blue Bear Capital participated in Ocient's recent $42.1M Series B extension, bringing the Chicago-based data analytics company's total funding to $159.4M. Ocient specializes in high-performance, energy-efficient analytics solutions for large-scale, complex data and AI workloads, leveraging its proprietary Compute Adjacent Storage Architecture® and Megalane™ technology. The new capital will be used to advance the development and delivery of energy-efficient solutions for costly, complex, and operationally burdensome data and AI workloads. - learn more
    • Group11 participated in Healthee's $50M Series B funding round, supporting the New York-based company's mission to simplify health benefits through AI. Healthee offers an AI-powered platform that helps employees and employers navigate complex healthcare systems, enhancing user experience, reducing costs, and improving care outcomes. The funds will be used to expand Healthee's product suite, scale go-to-market operations, and accelerate the development of its AI-powered tools. - learn more
    • Sum Ventures participated in Irrigreen's $19M Series A funding round. Headquartered in Edina, Minnesota, with operations in San Francisco, Irrigreen develops robotic irrigation systems that utilize digital mapping and AI to optimize water usage for residential lawns. The funds will be used to advance product development, expand manufacturing in the U.S., and enhance the company's smart lawn care solutions. - learn more
    • Ventek Ventures participated in Recce's $4M funding round. Based in San Francisco, Recce offers data-native code review tools designed to enhance data validation in AI and software development workflows. The funds will be used to advance Recce's open-source toolkit and launch its collaborative SaaS platform, Recce Cloud, aiming to streamline data validation processes across the software lifecycle. - learn more
    • B Capital led an $87M Series C funding round for Omnidian, a Seattle-based provider of performance assurance services for residential and commercial solar and energy storage systems. Omnidian offers comprehensive protection and performance plans, ensuring optimal operation and maintenance of clean energy assets. The funds will be used to scale core operations, expand into high-potential markets like Australia and Europe, and explore new product lines such as electric vehicle (EV) charging infrastructure and commercial energy storage solutions. - learn more
    • Overture VC participated in PHNX Materials' $2.5M seed funding round. Based in the U.S., PHNX Materials has developed a process to purify coal fly ash by removing impurities like sulfur and carbon, making it suitable for use in concrete production. This approach not only repurposes industrial waste but also reduces the carbon footprint of concrete by replacing a portion of cement. The funds will be used to scale PHNX's purification technology and expand its operations to meet the growing demand for sustainable construction materials. - learn more

    LA Exits

    • Maza, a fintech startup catering to Spanish-speaking consumers in the U.S., has been acquired by Flex for $40M. Originally focused on helping immigrants open bank accounts and obtain ITINs, Maza shifted its services toward small business owners, such as landscapers and construction subcontractors. This pivot aligned with Flex's mission to provide comprehensive financial tools for business owners. Post-acquisition, Maza will rebrand as Flex Consumer, with its founders assuming executive roles within the combined company. The merger aims to accelerate their shared roadmap in delivering integrated financial solutions. - learn more
    • Moondust Management, a talent agency known for representing creators in travel, lifestyle, wellness, and purpose-driven content, has been acquired by Fixated, a digital entertainment platform. This acquisition aims to enhance Fixated's capabilities in content creation and brand partnerships by integrating Moondust's expertise and creator network. - learn more
    • ClaimShark, a provider of payment integrity solutions, has been acquired by Lyric, a leader in healthcare payment accuracy and integrity solutions. ClaimShark's innovative tools, including the Virtuoso command center and Replay audit platform, will be integrated into Lyric's AI-driven Lyric42 platform. This acquisition aims to enhance payment accuracy, transparency, and efficiency across the healthcare ecosystem by streamlining and simplifying healthcare transactions to eliminate waste. - learn more

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    This Week in LA: Robotaxis, Reels & a $100K Challenge

    🔦 Spotlight

    Happy Friday, LA,

    It’s Coachella Weekend 2, which means fewer cars on the road, easier restaurant reservations, and just enough quiet to hear the next wave of innovation humming through the city. This week, we’re watching more driverless cars roll in, Instagram remix your Reels feed, and a $100K climate challenge call for startups. Let’s get into it.

    🚕 Zoox Is Bringing Its Robotaxis to LA

    Image Source: Zoox

    Amazon-owned Zoox just announced that its futuristic, steering wheel–less robotaxis are heading to Los Angeles. The company has begun mapping the city as it gears up to launch a fully autonomous ride-hailing service. These aren’t retrofitted Teslas; they’re bidirectional vehicles built specifically for autonomy, with no front, no back, and no driver seat.

    It’s Zoox’s first major push beyond Northern California and Las Vegas, and it's a signal that LA is being positioned as a proving ground for next-gen transportation. As the city preps for the 2028 Olympics, Zoox is hoping to help LA reimagine what mobility looks like without a human behind the wheel.

    👀 More on that here:Zoox’s LA Expansion

    💬 Instagram’s New “Blend” Feature

    Image Source: Instagram

    Instagram just announced “Blend,” a new feature that creates a private Reels feed curated for you and a friend based on your shared interests. It’s like a personalized explore page, but just for two. Think Spotify Blend, but with more memes and fewer breakup ballads.

    It’s currently in testing, but if rolled out broadly, Blend could change how creators build community and how content spreads in smaller, more intimate algorithmic circles.

    🔥 LACI Launches the LA Resilient Rebuilding Cup

    100 days after the Palisades and Eaton fires swept through parts of LA, the Los Angeles Cleantech Incubator (LACI) is launching a new initiative: the LA Resilient Rebuilding Cup. It’s a pitch competition aimed at finding startup solutions to help LA rebuild stronger and greener.

    Up to $100,000 in prizes and piloting funds are up for grabs. Finalists will pitch live on July 10 in Downtown LA, and selected winners will get the opportunity to bring their technologies to fire-affected communities. Focus areas include fire detection, renewable energy, air quality, mental health tools, resilient construction, and more.

    Startups have until May 30 to apply.
    📍 Apply here


    🤝 Venture Deals

    LA Companies

    • Parallel Systems, a Los Angeles-based company developing autonomous battery-electric railcars, has raised $38M in a Series B funding round led by Anthos Capital, with participation from Riot Ventures and others. The funding will support the commercialization of its technology, including the launch of its first commercial pilot in Georgia. This pilot, approved by the Federal Railroad Administration, will test self-propelled intermodal flatcars over a 160-mile stretch, aiming to offer a more efficient and sustainable alternative to short-haul trucking. Parallel Systems plans to use the funds to scale production of its Generation 3 vehicles and expand operations in the U.S. and Australia. - learn more

    LA Venture Funds

    • Bonfire Ventures led a $7.5M seed funding round for 1Fort, a New York-based startup that automates commercial insurance workflows for brokers using AI. Village Global and others participated in the round. 1Fort's platform streamlines the insurance process by automating tasks such as application completion, quote retrieval, and policy binding, helping brokers secure better coverage for clients more efficiently. The funds will be used to enhance the platform's AI capabilities, expand the team, and grow partnerships with carriers and brokers across the U.S. - learn more
    • Strong Ventures led an ₩800 million pre-Series A funding round for LunchLab, a Seoul-based B2B startup offering corporate lunch subscription services. LunchLab provides daily lunchbox deliveries and post-meal dish collection for companies, streamlining office meal logistics. The funds will be used to expand production capacity, enhance delivery operations across Seoul, and improve their proprietary ordering app. - learn more
    • CIV participated in Crux's recent $50M Series B funding round, supporting the company's mission to streamline financing for clean energy and manufacturing projects. Crux, based in New York, operates a capital markets platform that facilitates transactions such as transferable tax credits and debt financing, aiming to enhance liquidity and efficiency in the clean economy sector. The newly acquired funds will be utilized to expand Crux's network of market participants, enhance its software infrastructure, and scale its operations to meet the growing demand for clean energy financing solutions. - learn more
    • Finality Capital Partners participated in the $11M seed funding round for Optimum, a startup incubated at MIT and based in Cambridge, Massachusetts. Optimum is developing a decentralized memory layer for Web3, utilizing Random Linear Network Coding (RLNC) to enhance data storage and propagation across blockchain networks. The funds will be used to advance Optimum's technology and expand its team to address scalability challenges in decentralized systems. - learn more
    • TIME BioVentures participated in Phantom Neuro's recent $19M Series A funding round. Based in Austin, Texas, Phantom Neuro is developing a minimally invasive neural interface called Phantom X, designed to enable intuitive control of prosthetic limbs and robotic exoskeletons. The new funding will support the company's first human trials, preclinical testing, regulatory submissions, and expanded research and development for broader applications of its technology beyond prosthetic limbs. - learn more
    • Veridical Ventures participated in a $2M seed funding round for SlashExperts, a San Francisco-based B2B platform that connects prospective buyers with existing customers to facilitate authentic peer conversations. This approach aims to build trust and expedite sales processes. The funds will be used to enhance the platform's features, ensuring seamless and effective connections between buyers and users. - learn more
    • F4 Fund participated in Boby.ai's $1.25M seed funding round, supporting the Istanbul-based startup's mission to develop AI-powered mobile applications. Boby.ai, founded by Gökçe Nur Oğuz, Onur Olgun, and Berat Oğuz, focuses on creating user-friendly AI tools for end-users, such as their flagship app Mozart.ai, which enables users to generate personalized music using AI. The funding will be used to expand the team and develop new AI-based mobile products. - learn more
    • Riot Ventures and Impatient Ventures participated in Blue Water Autonomy's recent $14M seed funding round. Based in Boston, Massachusetts, Blue Water Autonomy is developing fully autonomous, unmanned ships designed to operate on the open ocean for extended periods. The company plans to use the funds to expand its engineering team, accelerate ship testing, and integrate various payloads onto its platform. - learn more
    • Aliavia Ventures led a $1M pre-seed funding round for InsightWise, an AI-powered platform based in Sydney, Australia, designed to streamline the consulting process by automating tasks such as proposal development and strategy creation. The funding will be used to enhance the platform's capabilities and support expansion into the U.S. market. - learn more

    LA Exits

    • Pex, a leading provider of digital rights technology, has been acquired by Vobile, a global leader in digital content protection and transaction services. This acquisition enhances Vobile's services for the music industry and strengthens its position as a global solution provider for digital audio content. - learn more

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