Introducing ‘Raises’: Our New Weekly Recap of LA Startup Funding News

Molly Wright

Molly Wright is an intern for dot.LA. She previously edited the London School of Economics' student newspaper in the United Kingdom, interned for The Hollywood Reporter and was the blogging editor for UCLA's Daily Bruin.

Introducing ‘Raises’: Our New Weekly Recap of LA Startup Funding News

This is the first installment of Raises—a weekly feature highlighting venture capital and private equity funding news across the Los Angeles and Southern California tech and startup ecosystem.


Venture Capital

Package tracking startup Route closed a $200 million Series B round at $1.25 billion valuation.

Hybrid gaming platform PortalOne raised $60 million in Series A funding led by Tiger Global.

Koji, a startup offering a virtual app store for content creators, raised $20 million in Series B funding led by Jump Capital.

Virtual reality tech startup Emerge raised $13 million in new funding from investors including Riot Games co-founder Marc Merrill and Twitch co-founder Kevin Lin.

NFT startup Unblocked raised a $10 million seed round led by Tiger Global and Penske Media Corp.

Tag-n-Trac, which provides software for smart IoT tracking, raised $10 million in Series A funding led by Dell Technologies Capital.

Cybersecurity firm NVISIONx raised $4.6 million in seed funding led by Companyon Ventures.

Cannabis snack brand TSUMo Snacks raised a $4 million seed funding round led by Snoop Dogg’s Casa Verde Capital.

Spacecraft operations software startup Epsilon3 raised a $2.8 million seed round from investors including Stage Venture Partners, MaC Venture Capital, Lux Capital and Village Global.

Guest experience platform DACK raised $2.4 million in funding from five investors, according to an SEC filing. The startup is seeking to raise a total of $5 million.

Wearable data startup Point raised nearly $2.4 million in funding from six investors, according to an SEC filing. The company is seeking to raise more than $4.8 million.

Matters Lab, a web3 social media company, raised $2 million in pre-Series A funding from investors including Longling Capital, Protocol Labs and Mask Network.

Rx Delivered Now, a prescription delivery management platform, raised over $1 million in pre-seed funding via crowdfunding from more than 900 individual investors.

Private Equity

InnovateMR, a provider of survey and sampling services, received an investment from private equity firm CIVC Partners. Financial terms were not disclosed.

Home lending platform Mortgage Coach received an investment from private equity firm LLR Partners. Financial terms were not disclosed.

Health care software and data platform RxVantage received an investment from growth equity firm Spectrum Equity and corporate venture capital firm McKesson Ventures. Financial terms were not disclosed.

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Plus Capital Partner Amanda Groves on Celebrity Equity Investments

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+, 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.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
Courtesy of Rivian.

Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

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