This Week in ‘Raises’: Snappt Snaps Up $100M, Propel Bio Seeks $150M Fund

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’: Snappt Snaps Up $100M, Propel Bio Seeks $150M Fund
Photo by Kanchanara on Unsplash

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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).


Venture Capital

Snappt, a West Hollywood-based proptech startup that flags fraudulent rental applications for landlords, raised a $100 million Series A funding round led by Insight Partners.

Bambee, an L.A.-based startup providing human resources for small- and medium-sized businesses, raised $30 million in Series C funding led by QED Investors.

San Diego-based vintage furniture brand Loveseat raised $7 million in Series A funding led by Bessemer Venture Partners.

Venice-based comedy platform Almost Friday Media raised a $6 million seed round of $6 million from investors including Tim Armstrong, Robert Greenhill and Sharp Alpha Advisors.

L.A.-based cannabis wellness company Jointly raised $5 million in seed funding from the sale of convertible promissory notes to private investors.

Battlebound, the L.A.-based video game developer behind the Web3 game Evaverse, raised $4.8 million backed by 14 unnamed investors, per an SEC filing.

Zitti, a Santa Monica-based fintech platform for restaurants, raised $4 million led by Crossbeam Venture Partners.

Beverly Hills-based blockchain startup NFT Brands raised $3.6 million in funding, according to an SEC filing.

Funds

Propel Bio Partners, an L.A.-based investment firm led by former Athira Pharma CEO Leen Kawas and Kayne Anderson founder Richard Kayne, is seeking to raise $150 million for its debut fund, per an SEC filing.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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AmazeVR Wants You To Attend K-Pop Concerts Virtually

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

AmazeVR Wants You To Attend K-Pop Concerts Virtually
Photo courtesy of AmazeVR

Virtual reality startup AmazeVR now has $17 million to further expand its VR concert experience.

The West Hollywood-based company’s latest funding amounts to a bet that virtual shows, a staple of the pandemic, are here to stay. Mirae Asset Capital led the Series B funding round, with Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures investing again. Mobile game maker Krafton joined the group—but South Korean entertainment company CJ ENM’s stake reveals AmazeVR’s plans to expand into K-pop world.

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