š¦ Spotlight
Hello, Happy Friday!
This week, Los Angeles proved once again why it's at the center of space, tech, and innovation. From a major satellite funding round to a big push for wildfire relief, the city is making moves across multiple industries.
K2 Space Lands $110M to Build High-Power Satellites
Image Source: K2 Space
Torrance-based K2 Space just raised $110 million in Series B funding, co-led by Lightspeed Venture Partners and Altimeter Capital. The company, which has now secured $180 million since its launch in 2022, is working on high-power, multi-orbit satellites designed to make space operations more efficient and affordable.
With a new 180,000-square-foot facility in Torrance, K2 is scaling up productionāand a successful in-space demo proves theyāre on the right track. As demand grows for more powerful satellites, this funding puts them in a strong position to compete.
True Anomaly Expands into Long Beach
LA's space industry is scaling fast, andĀ True Anomaly is the latest company to plant roots in Long Beach. The defense tech startup is opening a 90,000-square-foot facility to develop next-gen space security and reconnaissance systems.
Of that, 70,000 square feet will be dedicated to engineering and production, while the remaining space will house office and R&D teams. With more satellites playing key roles in national security and commercial operations, True Anomalyās expansion positions it right where it needs to beāclose to top aerospace talent and major government clients.
Apple Unveils iPhone 16e
Image Source: Apple
Apple has added a new model to its lineup with the iPhone 16e, a budget-friendly but powerful option. Priced at $599, it includes:
- A18 chip with Apple Intelligence
- 48MP 2-in-1 camera system
- 6.1-inch Super Retina XDR OLED display
- Face ID, replacing the classic home button
Pre-orders start February 21, with availability beginning February 28. Apple is positioning the 16e as a mid-tier option that brings AI-driven capabilities to a wider audience without the premium price tag.
TikTok Returns to U.S. App Stores
After a brief removal,Ā TikTok is back on Apple and Google app stores following a delay in enforcement of a potential national ban. The White House assured tech platforms they wonāt face penalties for keeping the app available, at least for now.
For creators, brands, and businesses that depend on TikTok, itās a reliefābut the platformās long-term future in the U.S. is still up in the air.
FireAid Distributes $50M for Wildfire Relief
Image Source: Fire Aid
While LAās tech industry looks ahead, major efforts this week focused on immediate recovery.Ā FireAid announced $50 million in wildfire relief grants to support Los Angeles communities impacted by the recent devastating wildfires.
The first round of grants will help local nonprofits and organizations providing housing, financial assistance, essential goods, and emergency support to those affected. Some of the initial recipients include:
- United Way of Greater Los Angeles ā Providing direct financial aid and community-based recovery efforts.
- Baby2Baby ā Supplying essential goods to families and children impacted by the fires.
- CA Community Foundationās Wildfire Relief Fund ā Supporting emergency relief and long-term recovery.
- LA Fire Department Foundation ā Assisting first responders with wildfire-related resources.
- Meet Each Need with Dignity (MEND) ā Providing emergency food, housing, and job resources for displaced individuals.
FireAidās benefit concert, which drew millions of viewers worldwide, has continued to raise funds, with additional grants expected to roll out in the coming months to further aid recovery and rebuilding efforts.
LA Isn't Just Keeping Up With the FutureāIt's Defining It.
From major investments in space and national security to new consumer tech and philanthropic efforts, LA is proving its influence across industries. The question isnāt whatās happening hereāitās whatās happening next.
š¤ Venture Deals
LA Companies
- Toonsutra, a webtoon comic app, has raised a $3.2M Seed funding round led by Holtzbrinck Publishing Group. The funds will be used to expand its content library and enhance user engagement. - learn more
- CREE8, a company offering a centralized virtual workspace with on-demand, high-performance workstations, secure storage solutions, and real-time collaboration tools for creatives, has received an investment from Moneta Ventures. The funding will be used to enhance its platform capabilities and expand its market presence, providing seamless workflows for creators and professionals in need of cloud-based creative solutions. - learn more
- Breakthrough, an AI-driven startup founded by former Google executive Adit Abhyankar, has secured a $600,000 Pre-seed funding led by Senvest Capital. The company specializes in enhancing B2B sales messaging by optimizing content in real-time through its self-learning AI platform. The funds will be used to expand Breakthrough's enterprise client base, explore applications beyond traditional sales outreach, and refine the product to better align with market needs. - learn more
- UVIONIX, a robotics and automation startup specializing in AI-powered autonomous flying robots for warehouse inventory management, has secured a $3.5M Seed funding led by LAUNCHub Ventures. The investment will accelerate UVIONIX's product release, expand its presence in the U.S. and Europe, and support the growth of its AI and engineering teams in Bulgaria and the U.S. - learn more
- March Capital participated in a $305M Series B funding round for Together AI, a San Francisco-based company specializing in providing a cloud platform for developers and researchers to train and deploy generative AI models. The funds will be used to expand Together AI's cloud infrastructure, including the large-scale deployment of Nvidia Blackwell GPUs, to support over 200 open-source models and serve its growing user base of more than 450,000 AI developers worldwide. - learn more
- Amboy Street Ventures participated in a $12M Series A funding round for Millie, a San Francisco-based tech-enabled maternity clinic. Millie offers comprehensive, patient-centered maternity care, integrating clinical best practices with digital tools to support individuals from conception through postpartum. The funds will be used to expand Millie's technology platform, enhance service offerings, and open new clinics, starting with a collaboration in California in 2025. - learn more
- StoryHouse Ventures participated in a $4.3M Seed funding round for Henry AI, a company specializing in automating commercial real estate transactions. Based in New York, Henry AI uses AI-powered technology to streamline real estate deal execution. The funds will be used to enhance its platform and expand its capabilities, making commercial real estate transactions more efficient and scalable. - learn more
- Amplify.LA participated in a $6.2M Seed funding round for Mavvrik, an Austin-based FinOps platform formerly known as DigitalEx. Mavvrik helps organizations manage and optimize IT expenditures through advanced financial operations solutions. The funds will be used to enhance its platform capabilities, addressing rising IT costs and improving financial efficiency for its clients. - learn more
- Generational Partners participated in a $4M Pre-seed funding round for Everstar, a company specializing in AI-driven solutions for nuclear compliance. The funds will be used to develop Everstar's platform, aiming to enhance safety and efficiency in the nuclear energy sector. - learn more
- Watertower Ventures participated in a $1.2M pre-seed funding round for Glassbox, a Toronto-based fintech startup developing an AI-compatible financial analysis platform. The funds will be used to expand Glassbox's team and bring its platform to market, aiming to transform traditional spreadsheet-based workflows into more efficient, transparent, and AI-driven processes. - learn more
- March Capital participated in a $75M Series C funding round for Luminance, a Cambridge, UK-based legal technology company specializing in AI-powered contract generation, negotiation, and analysis. The funds will be used to accelerate Luminance's global expansion, particularly in the U.S., and to enhance its AI platform, extending its applications to adjacent areas such as procurement and compliance. - learn more
- Rebel Fund participated in a ā¬17.2M Series A funding round for Capi Money, a London-based FinTech startup specializing in streamlining international payments for SMEs in emerging markets. The funds will be used to scale Capi Money's platform, enabling small and medium-sized importers in regions like Africa, Latin America, and China to pay international suppliers more efficiently. - learn more
- Group 11 participated in a $100M Series B funding round for Dream, an AI company based in Tel Aviv, Israel, specializing in cyber resilience solutions for nations and critical infrastructure. The investment, led by Bain Capital Ventures, will be used to enhance Dream's product capabilities and expand its global market reach, aiming to bolster national cybersecurity defenses against sophisticated threats. - learn more
- B Capital participated in a $320M Series C funding round for Lambda, a San Jose, California-based company specializing in GPU cloud services for AI applications. The funds will be used to expand Lambda's AI cloud business, including their on-demand and reserved cloud offerings, to meet the growing demand for AI infrastructure. - learn more
- B Capital co-led a $350M Series A funding round for Apptronik, an Austin, Texas-based company specializing in AI-powered humanoid robots. The investment will be used to scale the production of their humanoid robot, Apollo, designed for tasks in logistics and manufacturing sectors. Apptronik plans to expand Apollo's capabilities to other industries, including elder care and healthcare. - learn more
- Upfront Ventures led a $7.5M Seed funding round for Keragon, a New York City-based company providing an AI-powered, HIPAA-compliant automation platform for healthcare. The funds will be used to expand operations and development efforts, enabling healthcare professionals to integrate over 300 software toolsāincluding electronic health records, scheduling platforms, and AI medical scribesāwithout requiring engineering expertise. This integration aims to streamline data exchange, reduce administrative burdens, and safeguard patient information. - learn more
- Blue Bear Capital participated in a $16M Series B funding round for ACCURE Battery Intelligence, an Aachen, Germany-based company specializing in AI-based battery safety and performance solutions. The funds will be used to expand ACCURE's predictive analytics software offerings across Europe, the Americas, and the Asia-Pacific regions, addressing the growing demand for enhanced battery safety and reliability in energy storage systems and electric vehicle fleets. - learn more
- Clocktower Ventures participated in a $6.2M Seed funding round for Era Finance, a company specializing in AI-powered personal wealth management solutions. The funds will be used to expand Era's 'wealth-care' platform, aiming to make advanced financial intelligence accessible to a broader audience. - learn more
- Climate Avengers participated in a $25M Series B funding round for Mast, a company specializing in restorative carbon removal projects. The funds will be used to launch a first-of-its-kind biomass burial and reforestation project, aiming to enhance carbon sequestration and combat climate change. - learn more
- Clocktower Ventures participated in a $5M Seed funding round for Vigil, a New York-based insurtech startup specializing in annuities. The funds will be used to expand Vigil's platform and enhance its services in the annuities market. - learn more
- Finality Capital Partners co-led a $7M Seed funding round for Fragmetric, a company specializing in native liquid restaking protocols on the Solana blockchain. The funds will be used to enhance Fragmetric's platform, focusing on efficient distribution of Node Consensus Network rewards and determining appropriate slashing ratios for Liquid Staking Tokens, thereby strengthening the security and economic potential of the Solana ecosystem. - learn more
LA Exits
- Guidance, a leading digital commerce services provider, has been acquired by OneMagnify, a global marketing and technology solutions company backed by Crestview Partners. This strategic acquisition aims to enhance OneMagnify's digital experience and eCommerce capabilities, enabling the combined entity to offer comprehensive, data-driven digital solutions to their clients. - learn more
- Maple Media, a leader in mobile app publishing with a diverse portfolio of "Top 10" apps across productivity, entertainment, and lifestyle categories, has been acquired by Skybound Entertainment. This acquisition aims to enhance Skybound's reach by integrating Maple Media's stable revenue, proprietary app management technology, and direct consumer relationships, thereby expanding Skybound's audience and engagement. - learn moreĀ
- Prima, a science-backed wellness brand specializing in clean and clinical CBD skincare and body care, has been acquired by Sky Marketing Corporation, a Texas-based house of hemp brands. The acquisition will allow Prima to expand its reach and continue its mission of delivering high-quality, plant-based wellness solutions under Sky Marketing's portfolio. - learn more
Ā Image Source: Tesla
Ā Image Source: VenHub
Ā Image Source: Snap