This Week in ‘Raises’: Battle Motors Grabs $150M, PowerPlant Ventures Land $330M

Decerry Donato

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.

This Week in ‘Raises’: Battle Motors Grabs $150M, PowerPlant Ventures Land $330M
Modified by Joshua Letona

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.

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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).

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LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

Decerry Donato

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.

LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

Decerry Donato

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.

Raises
Image by Joshua Letona

A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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Gitai Secures $30 Million in Funding to Continue Space Robotics Developments

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Secures $30 Million in Funding to Continue Space Robotics Developments
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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