This Week in ‘Raises’: Battle Motors Grabs $150M, PowerPlant Ventures Land $330M
Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.
Romeo Power founder Mike Patterson’s EV trucking company Battle Motors raised a new round of funding to expand production, and PowerPlant Ventures closed its third fund to inject $15 million to $40 million into growth stage companies.
***
Venture Capital
Santa Monica-based EV manufacturer Battle Motors raised a $150 million Series B investment round from an unnamed global institutional investor.
Bitwarden, a Santa Barbara-based open-source password manager, raised a $100 million Series B funding round led by growth equity firm PSG.
San Diego-based software as a service (SaaS) transportation company Netradyne raised $65 million in debt financing from Silicon Valley Bank.
Pathway Power, a renewable energy and battery storage developer based in San Diego, raised a $36 million commitment from Forest Road Renewables.
Open Raven, a data security company based in Marina Del Rey, raised a $20 million Series B funding round led by Pelion Ventures.
Irvine-based billing and integrated payments platform Chargezoom raised a $10 million Series A funding round co-led by Panoramic Ventures.
Serial entrepreneur Brian Lee and baseball star Derek Jeter co-founded Arena Club, a Los Angeles-based sports card collecting platform. The startup raised $9 million in funding from Lightspeed Venture Partners, Defy.vc, and BAM Ventures.
D’Amelio Brands, the Los Angeles-based business venture of the D’Amelio family, raised $6 million in seed funding. Investors include Richard Rosenblatt, entrepreneur, and business executive Michael Rubin, Apple's senior vice president of services Eddy Cue, and Lions Gate Entertainment CEO Jon Feltheimer.
Los Angeles-based storytelling app Remento raised $3 million in seed funding led by Upfront Ventures.
Funds
PowerPlant Partners, a Hermosa Beach-based venture capital and private equity firm, closed $330 million for its third fund to invest in consumer-facing brands and focus on growth-stage companies.
Raises is dot.LA’s weekly feature highlighting venture capital funding news across Southern California’s tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).
Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.
Image Source: Archer