Exclusive: Meg Whitman Talks Quibi, L.A.'s Tech Scene, and Hollywood's Renaissance

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

Exclusive: Meg Whitman Talks Quibi, L.A.'s Tech Scene, and Hollywood's Renaissance

Quibi launched this week into a world turned upside down by the novel coronavirus. How do things look on day two? dot.LA caught up with Chief Executive Officer Meg Whitman – former boss of eBay and Hewlett-Packard, and one-time California gubernatorial candidate – to discuss.

Whitman shares her reaction to the initial flow of real-time data on Quibi users, what she'll be watching closely over the next few months, and what the well-heeled company's future may hold. She also forecasts how the streaming wars may play out, reflects on lessons learned about the tech world, and reveals her thoughts on the burgeoning innovation ecosystem in Los Angeles.


You've spoken about looking forward to Quibi transitioning from an organization driven by intuition and experience to one driven by data. What is the initial data telling you?

First of all, we're really excited about our day one launch and our day one performance. The fact that we are number three in the App Store and number two in the entertainment segment of the App Store is a remarkable accomplishment. So we're thrilled.

And the social sentiment — we have social listening tools, like everyone else — the social sentiment is 80% positive, which is extraordinary. All the feedback we've been getting from users through our customer support team, they've embraced our innovative approach to what we're doing here. And Turnstyle, our technology: interestingly, the data shows 50% of the viewing was in portrait, 50% was in landscape--which is fascinating. So we're thrilled about that, super excited, and going onto day two here.

Over these next 89 days until the free trial ends and as the launch continues to unfurl, what will you be watching most closely?

Well, because the tech platform is not a legacy platform — it was built for Quibi — we were able to instrument into our data layer just about every piece of data that we could ever imagine we would want. So we can see, not individuals, but what are the trends in how people are watching, what are our top shows, what is our customer support team telling us every single day about what people want? Then we will prioritize those observations and requests into our product roadmap and into the kind of content that we produce. So we're looking for all the signs of how people use this app and what we can learn from it. And then of course we look at the metrics of downloads, trials, net paid subscribers, number of Quibi's (Quick Bites) per day that people watch, hours per day that people watch. We'll be watching all of that data for things that we should be doing, and adapting along the way.

Now that you've launched, can you talk a bit more than you have previously about the path to profitability?

I don't know about more than the past, but Jeffrey (Katzenberg) and I have run businesses for many, many, many years, and ultimately we know that revenues have to be greater than costs. Sometimes, not everyone subscribes to that, but we certainly do. So we've got a very clear path to profitability. The fundraise ($1.75 billion) gives us a nice long runway to get there. But we're very eye-on-the-prize in getting to a self-sustaining business. We've not told people what that number is yet, because we haven't even launched really; we're on day one. Over time, we'll communicate that to our investors and maybe even more broadly. We're very focused on getting to profitability.

When do you expect to be able to communicate the number of subscribers you're shooting for and the timeframe for doing so?

Well, remember we're a private company; certainly our investors have a window into that. But my view is we will take stock at a year. And we'll look back and maybe we'll give a more broad report on how we did in our first year. But we'll see. We're still new at this and it's the unknown unknowns that we're trying to figure out. I can't give you an exact date but I would think after a year; I'm very focused on "where are we after a year?"

To what extent has the coronavirus affected your projections and forecasts, if at all?

It hasn't at all, really. It's affected our launch plans. We had a physical launch event; we moved to a virtual launch event. We were going to do our Daily Essentials (daily news and culture segments) every day from the studios of our content partners; most of those now are being done at home. We were originally going to do a two-week free trial; but we did if you sign up by the end of April, we now have a 90-day free trial. So we made some adjustments, but in terms of our goals and aspirations for net paid subscribers and things like that, unchanged. Because I think we'll get through this. I don't know whether it'll be the beginning of summer, end of the summer, middle of fall, but we'll get through this and I think things will ultimately return to normal. So we didn't think it made sense to change the projections just yet.

Thinking back to when Jeffrey Katzenberg first approached you with this idea, what advice would you give to that past version of Meg, with the benefit of hindsight?

I think you will appreciate this, given that you are at the intersection of tech and media: these two worlds are very different. I knew that, but the difference between the San Francisco Bay area and L.A. is even bigger than I had thought. Neither is better than the other; they're just different. I took that into account, but I don't think, until I moved to L.A. and really tried to bridge these two worlds, that I understood how different they are.

It is our superpower: putting the engineering team right next to the content team was absolutely the right decision. All the advice I got from my friends in Silicon Valley was I had to put the tech for Quibi in Silicon Valley, or Seattle, or Austin or someplace like that. And I spent about two months trying to figure out whether the bench of tech talent here in L.A. was deep enough to support the launch of Quibi, and I ultimately determined that it was. It was absolutely 100% the right move.

I think we have a huge and wonderfully burgeoning tech community here in L.A., and I hope we can be a part of having that community grow and thrive. Because there's a lot of talent here. Not as deep as in the Bay Area, but a lot of talent, and we're super glad we put the tech team and the content team together. That helped bridge two very different worlds.

To what extent does L.A.'s burgeoning scene represent some of the earlier days that you saw in the Bay Area?

Well first of all, it's a smaller community. L.A. is still probably more of an entertainment-focused city than a tech-focused city. The Bay Area is all tech, all the time. So it's a smaller community here.

What I will say that I think ultimately advantages L.A., is the number of undergraduate institutions in the community. Think about it: it's USC, it's UCLA, it's Harvey Mudd, it's Pitzer, it's Pomona, it's Cal Tech, it's Occidental, it's Loyola-Marymount, and many, many more. So I think the future here is incredibly bright, because you've got all these schools focusing on computer science, focusing on engineering, so I think there will be a huge group of next-gen engineers who went to college here and want to stay. Up in the Bay Area it's just a few schools. It's UC Santa Cruz, it's Stanford, it's Berkeley, Santa Clara University -- fantastic schools, but not as many. And I think that bodes well for the future with the next generation of engineers.

Silicon Valley has been a tech hub since 1939, with the founding of Hewlett Packard; it was founded way back in the day, so there's a lot more history there. But I don't think that means L.A. can't be fantastic in terms of a tech hub.

Keeping your forecasting hat on, as media content and platforms continue to proliferate and improve, what must companies competing in the space do to emerge on the other side among the winners?

I think there's never been a better time to be a creator in Hollywood. There's tremendous demand for writers, directors, producers, actors, actresses, and all the people that surround these productions. It's literally like a renaissance in Hollywood. And I think the eye on the prize is always, is it a great story? Does it tell a new story, tell a story differently? And does it capture people's hearts and, secondarily, their minds? So you've got to keep your focus on the quality and the diversity of content that people want. That sounds a bit motherhood and apple pie, but I think that's always been true here and probably still is.

As an equilibrium eventually emerges in this space, how do you think that might look?

I think it depends on how things unfold. There's always been transitions in entertainment. Movies, to television, to streaming, to what we hope will be content designed and made for your phone, which opens up a whole new way to tell stories. I don't think there will necessarily be winners and losers, I think there will be big winners and good winners. Because there's such a hunger for content.

The other thing I would say is that every business now is a technology business, whether it's the entertainment industry, whether it's agriculture; every single business is a technology business. So I do think companies that focus on what are the trends in technology, what are some of the underlying trends that consumers adopt around technology — that will help them be winners and it will complement their fantastic content.

In your career, particularly with eBay, you had the tall task of getting people to be comfortable with the unfamiliar. You have a similar task here with Quibi. What have you learned about how to do that?

If it's compelling, people do it by themselves. One of the worries about eBay was trust and safety. So we instituted this notion of trust and safety, and the feedback profile was something we did to improve people's confidence buying online. You have to remember, in 1998 people were not buying online. Amazon was a tiny little company and there were just a few ways you could buy online back in the day. Some of it's just time, some of it is features and functionality that you build in that make people feel comfortable. But much of it, often when you're doing something entirely new, it has to get out there, people have to try it, recommend it to their friends, and people have to appreciate what you have to offer. There's no way to make people feel comfortable. It's just giving people the opportunity to try it.

How do you envision our phones changing and the way we interact with them?

The question we ask ourselves is: How can this new way to consume very high quality content on your phone continue to help enable storytellers to tell stories in new ways? The way we think about it is, what does your phone have to offer that we could take advantage of? GPS, gyroscope, camera, touchscreen, easy access to every social network. How can we take this remarkable device that has changed everything in the last 13 or 14 years, and enable storytellers to take advantage of it?

We have started with a couple interactive shows. We've got a dating show coming down the road. We've got Steven Spielberg's After Dark coming. What can we do to utilize this camera? We have a show coming in the next month or two where the horizontal view of what's happening is different than the vertical view. It's two views of the same scene, as opposed to the same view of the same scene, just told with the horizontal or vertical position of your phone. So we're really thinking through, how do we help creators do things that take unique advantage of the phone? That's going to be our focus for the next 12-18 months: what is the next Turnstyle, if you will.

---

Sam Blake covers entertainment and media for dot.LA. Find him on Twitter @hisamblake and email him at samblake@dot.LA

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CHAOS in the Skies, Valar in the Core and Robotaxis on the 405

🔦 Spotlight

Hello LA!

If you are reading this while watching the clouds stack up over the city, you are not wrong. The forecast is calling for heavy rain and possible flooding through Sunday, so consider this your permission slip to cancel a few plans, stay dry and catch up on what the hard-tech crowd has been building this week.

Let us start with the least subtle name in local defense tech. CHAOS Industries just closed a $510 million dollar round led by Valor Equity Partners, valuing the company at $4.5 billion dollars and pushing its total funding past the $1 billion dollar mark in under three years. The company builds Coherent Distributed Networks radar, essentially a mesh of smaller, lower cost sensors that can pick up drones and other low flying threats minutes earlier than legacy radar systems, a gap that has become painfully obvious on modern battlefields. The new capital is going toward product development and manufacturing so militaries and border agencies can actually field these systems at scale rather than treating them as one-off experiments.

What makes CHAOS interesting is not just the size of the round but the architecture choice. Instead of a single massive radar on a hill, they are betting on distributed, software first networks that can be upgraded, repositioned and re-tasked as threats change. It is a very cloud-era way of thinking about defense hardware, and it is pulling engineers from a mix of aerospace, gaming and traditional software backgrounds into a category that used to be the domain of slow, closed incumbents.

Image Source: Valar Atomics

If CHAOS is focused on keeping the skies manageable, Valar Atomics wants to keep the lights on for everything that needs compute. The Hawthorne based nuclear startup raised $130 million dollars in Series A funding led by Snowpoint Ventures, with participation from Crosscut Ventures and a roster of deep tech backers that includes Palmer Luckey and Palantir CTO Shyam Sankar. Valar is building compact, high temperature gas reactors that use TRISO fuel and helium coolant, designed for strong safety characteristics and very high operating temperatures.

Instead of a single gigantic nuclear plant, Valar’s plan is to mass produce one standardized reactor design and cluster hundreds of them on “gigasites” that sit directly behind the meter for big energy users. Think hydrogen production, AI data centers, heavy industry and synthetic fuel plants, not just electrons on the grid. Construction is already underway on a first test reactor in Utah, targeted for completion in 2026, and the company is positioning itself as part of a new wave of nuclear companies that treat reactors as a product you replicate, not a megaproject you tolerate.

Image Source: Waymo

On the consumer side, your weekend mobility options are getting an upgrade too, weather permitting. Waymo has begun routing paid robotaxi rides onto freeways in Los Angeles, alongside San Francisco and Phoenix, after years of staying mostly on surface streets. The company says freeway segments can cut some trip times by as much as half, making a driverless ride to LAX or a cross town trek on the 405 feel less like a novelty and more like a practical option. Regulators and human drivers now have to figure out what it means to share the fast lane with cars that never get tired and never text at red lights.

Image Source: Apple

Apple is also coming for the least fun part of any LA trip: the airport ID check. The new Digital ID feature lets you create a passport based identity inside Apple Wallet that TSA will accept at more than 250 airports for domestic travel, including LAX. You scan your passport, verify with Face ID and then present your Digital ID at TSA checkpoints using your iPhone or Apple Watch without handing over your device. It will not replace a physical passport for international flights, but it does mean boarding passes, credit cards and ID can all live in the same tap-to-go flow the next time you sprint to Terminal 4.

Between radar that sees drones earlier, reactors that promise industrial scale clean power and robotaxis that hop on the freeway, a lot of the future is quietly being wired in while you hunt for an umbrella. Stay safe, stay dry this weekend and keep scrolling for this week’s venture rounds, fund announcements and acquisitions.

🤝 Venture Deals

      LA Companies

      • Skims has raised $225M in new funding at a $5B valuation, in a round led by Goldman Sachs Alternatives with participation from BDT & MSD Partners. The company plans to use the capital to accelerate its shift toward brick-and-mortar retail and international expansion, while continuing to invest in product innovation across intimates, shapewear, apparel, and activewear, including its new NikeSKIMS collaboration; Skims is on track to surpass $1B in net sales in 2025, just six years after launch. - learn more
      • Neros has raised $75M in a Series B round led by Sequoia Capital, with participation from existing investors Vy Capital US and Interlagos, bringing its total funding to over $120M. The El Segundo based defense drone startup will use the capital to massively scale production of its Archer and Archer Strike FPV drone platforms and ground control systems, expand industrial capacity, and deepen a China-free, allied supply chain. The raise coincides with Neros being selected as one of the primary FPV drone suppliers for the U.S. Army’s Purpose-Built Attritable Systems program, following a major Marine Corps drone order. - learn more

              LA Venture Funds

              • BAM Ventures joined Exowatt’s new $50M financing round, backing the Miami based company’s push to deliver dispatchable, American made solar power to AI data centers and other energy hungry industrial sites. The round, an extension of Exowatt’s $70M Series A led by MVP Ventures and 8090 Industries, brings the company’s total funding to $140M in under two years. Exowatt will use the capital to expand U.S. manufacturing and scale deployments of its modular P3 system, which stores solar energy as heat and converts it to electricity on demand to provide round the clock, grid independent power. - learn more
              • WndrCo joined the $145M Series B round for Alembic, the AI marketing analytics startup it first backed in early 2024, as the company’s valuation jumped to $645M. The round was led by Prysm Capital and Accenture and will help Alembic scale its platform, which uses AI to link brand marketing across channels like TV, podcasts and social media to real sales outcomes. Alembic also plans to use part of the funding to build a new Nvidia powered supercomputing cluster in San Jose to support growing demand from enterprise customers. - learn more
              • Magnify Ventures joined Joy’s $14M Series A round, backing the San Francisco based startup’s push to build an AI powered parenting platform that blends machine intelligence with real human experts. Co-led by Forerunner and Raga Partners, the funding coincides with the launch of the Joy Parenting Club app, which gives new parents and parents of toddlers 24/7 access to certified coaches plus AI driven guidance, milestone tracking and personalized product recommendations. Joy plans to use the capital to further develop its AI model, expand partnerships with baby and parenting brands, and grow its expert network to support families through more stages of childhood. - learn more
              • Overture VC, via its climate focused Overture Climate fund, reupped in Harbinger’s $160M Series C round as the medium duty electric and hybrid truck maker continues to scale its U.S. built EV platform. The round was co led by FedEx, Capricorn’s Technology Impact Fund, and THOR Industries, and includes existing backers like Tiger Global, Ridgeline, Maniv Mobility, Schematic Ventures, Ironspring Ventures, ArcTern Ventures, Litquidity Ventures, and The Coca Cola System Sustainability Fund. Harbinger will use the capital to ramp production of its electric stripped chassis platform and fulfill an initial FedEx order for 53 Class 5 and 6 trucks, supporting large fleet electrification and last mile delivery use cases. - learn more
              • Sound Ventures joined the $60M Series B round for GC AI, an AI platform built for in-house legal teams, alongside lead investors Scale Venture Partners and Northzone. The new funding values the San Francisco based startup at $555M and brings its total capital raised to $73M. GC AI will use the money to accelerate product development and deepen its integrations and AI agents, building on rapid growth to more than 1,000 customers, $10M in ARR, and 1.75 million legal prompts processed in under a year. - learn more
              • Fulcrum Venture Group doubled down on its backing of Code Metal, joining the startup’s $36.5M Series A to support its push to bring verifiable AI powered code translation to mission critical industries. Led by Accel at a $250M valuation, the round also brought in RTX Ventures, Bosch Ventures, Smith Point Capital, Overmatch VC, AE Ventures, Shield Capital, J2 Ventures, and several strategic angels. Code Metal will use the capital to expand its platform across defense, automotive, and semiconductor customers, promising formally verified, regulation-ready code that can be ported between chips and modernized much faster than traditional methods. - learn more
              • MarcyPen Capital Partners led Rebel’s $25M oversubscribed Series B to scale the company’s returns recommerce marketplace, which helps retailers resell open box and overstock goods instead of sending them to landfills. The new capital will fund expansion into outdoor and sporting goods categories with existing retail partners and support broader growth of Rebel’s tech platform, which processes and resells returned products at up to 70 percent off retail while tackling the trillion dollar returns problem. - learn more
              • Halogen Ventures joined Auditocity’s $2M seed round alongside Techstars, Innovate Alabama, and several angel investors to help scale the company’s AI driven HR compliance auditing platform. The Alabama based startup plans to use the capital to expand nationally and deepen its intelligent automation tools so HR teams can spot compliance risks in real time and resolve issues before they become costly problems. - learn more
              • Upfront Ventures joined Majestic Labs’ more than $100M financing as the AI infrastructure startup emerged from stealth with a new memory centric server architecture. Founded by ex Google and Meta executives, the company claims its all in one servers deliver up to 1000 times the memory capacity of top tier GPU systems, effectively replacing multiple racks with a single box for the largest AI workloads. Majestic will use the capital to grow its team, finish its full software stack, and run pilot deployments with customers looking to cut power use and costs while training massive models. - learn more
              • Alexandria Venture Investments and Freeflow Ventures joined an oversubscribed round of more than $100M for Iambic, a San Diego based biotech using an AI driven discovery platform to develop new cancer therapies. The clinical stage company will use the fresh capital to expand its operations and advance a pipeline that includes IAM1363, a HER2 targeted candidate that has already shown early anti tumor activity, as well as additional AI designed programs and pharma partnerships. - learn more
              • EGB Capital joined Extellis’ $6.8M oversubscribed seed round, backing the Durham based startup’s push to deliver reliable, all weather satellite imagery at industrial scale. Led by Oval Park Capital with participation from Duke Capital Partners, First Star Ventures, New Industry Ventures, Front Porch Venture Partners, and Blue Lake VC, the funding will support Extellis’ first satellite launch and initial product rollout. - learn more
              • Core Innovation Capital joined Arrived’s $27M Series B style funding round, backing the Seattle startup’s push to make fractional real estate investing feel more like buying stocks. Led by Neo with participation from Forerunner Ventures, Bezos Expeditions, and other investors, the new capital will help Arrived scale its “stock market for real estate” platform and recently launched Secondary Market, which lets investors buy and sell shares of individual rental homes across the U.S. with just a few clicks. - learn more
              • Strong Ventures participated in a new pre Series A round for Provotive, the company behind AI packaging design platform Packative. The round was led by Japanese VC firm Miraise, with Korean fund VNTG and a Japan based strategic CVC also joining. Provotive plans to use the capital to expand its AI driven packaging services across Japan, Korea, and the broader Asian market, helping brands quickly generate localized, customized packaging at scale. - learn more

                    LA Exits

                    • Nativo is being acquired by family safety and location app Life360 in a cash and stock deal valued at about $120M. The acquisition folds Nativo’s native ad platform, programmatic tools, and publisher network into Life360’s advertising business so brands can reach families both inside the Life360 app and across CTV, mobile, and premium web environments. The companies say the combined platform will offer a full funnel, privacy minded, “family safe” ad solution and expect the deal to close in January 2026, pending customary approvals. - learn more
                    • RealtyMogul, an online real estate crowdfunding and investment platform, has been acquired from its venture backers by The Wideman Company, a cash flow focused, high touch real estate investment firm. The deal gives RealtyMogul a long term owner while keeping its brand and digital marketplace intact, supporting a member base that has invested more than $1.2B of equity into properties valued above $8B. The Wideman Company says the acquisition will bring additional capital and strategic support to expand RealtyMogul’s offerings and deal flow for individual investors and real estate sponsors. - learn more

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                              Swipe Less, Know More, Build Faster: LA’s AI Push

                              🔦 Spotlight

                              Happy Friday LA!

                              This week was about AI moving from side feature to core product strategy. Tinder is testing an opt-in “Chemistry” flow that learns your interests with permission, including signals from your camera roll, to propose fewer, higher quality matches. Snap is wiring Perplexity’s conversational, source linked answers directly into Snapchat. And Rivian spun out Mind Robotics to take the industrial AI it built for its own lines to a broader market.

                              Tinder Bets on AI for Quality Over Quantity

                              Tinder is piloting Chemistry, an opt-in experience that starts with a short Q&A and, with permission, analyzes cues from your camera roll to build a richer picture of what you like. The aim is to cut through swipe fatigue by presenting a smaller set of high intent matches each day, first in New Zealand and Australia, as part of Match Group’s larger 2026 product overhaul. The pitch is relevance and control, with phased rollout and consent front and center; if engagement lifts, expect tighter loops between real world signals and match recommendations.

                              Snap Brings Perplexity Answers into Snapchat

                              Snap struck a deal with Perplexity to deliver conversational, source linked results inside Snapchat starting in early 2026, backed by a one year cash and equity package reportedly worth about 400 million dollars. Ask a question where you already spend time and get a cited answer without hopping to a mobile browser, with Snap emphasizing that Snapchat data will not train Perplexity’s models. The announcement landed alongside improving fundamentals, signaling Snap’s plan to make trustworthy answers feel native to social habits rather than a separate destination.

                              Rivian Spins Out Mind Robotics

                              Rivian formed Mind Robotics to productize the software and systems that coordinate its own manufacturing, raising roughly 110 to 115 million dollars led by Eclipse. The goal is to sell factory floor intelligence beyond vehicles, including adaptive quality control, smarter material handling, and autonomous workflows that reduce downtime. With Rivian’s headquarters in Irvine and a growing regional robotics talent base, this puts Southern California on the map for next generation industrial automation tied to the EV supply chain.

                              Bottom line

                              LA’s tech scene is pushing AI toward measurable outcomes: better match quality, faster answers with clear citations, and more efficient production. Keep an eye on the unsexy details, including privacy choices and user consent, data boundaries between partners, and how each team turns these features into monetization. That is where this week’s announcements will turn into lasting advantage.

                              🤝 Venture Deals

                                  LA Companies

                                  • Evotrex exited stealth with a $16M Pre-A round led by Xstar Capital, with Unity Ventures, Kylinhall Partners, Vision Plus Capital, and founders of Anker Innovations participating; the capital will expand engineering and speed commercialization of its first product. The California startup plans to debut what it calls the world’s first power-generating RV trailer at CES 2026, designed to provide off-grid power and help extend EV range while towing. - learn more
                                  • Zest AI, which provides AI-driven credit underwriting and lending intelligence for banks and credit unions, closed an oversubscribed, customer-led financing round from SchoolsFirst, Members 1st, ORNL, and Truliant credit unions, with participation from Citi Ventures. The company says the round came at a higher valuation than its prior growth raise and will fund more automation across the borrower journey and a broader rollout of LuLu, its generative AI lending-intelligence platform. - learn more
                                  • Estate Media, the social first real estate media startup co-founded by “Million Dollar Listing” star Josh Flagg, says it has surpassed $6M in revenue and closed a $1M seed round, bringing total funding to $2.65M. New investors include Tinder co-founder Justin Mateen and real estate and media figures such as Samir Mezrahi (“Zillow Gone Wild”), Tracy Tutor, and Hudson Advisory, which the company says positions it for profitability and further growth. - learn more

                                        LA Venture Funds

                                        • Cedars Sinai Ventures joined Amae Health’s $25M Series B, led by Altos Ventures with participation from Quiet Capital, Bling Capital, Healthier Capital, and 8VC. The company, which is building an AI enabled clinic model for severe mental illness, says the funding will accelerate nationwide clinic openings, advance its AI care platform, and support research into conditions like schizophrenia, bipolar disorder, and treatment resistant depression. Total funding now tops $50 million. - learn more
                                        • Magnify Ventures participated in MiSalud Health’s new funding round led by IGNIA, alongside Ulu Ventures, Redwood Ventures, Amplifica Capital, and client investor Taylor Farms. MiSalud, which delivers bilingual virtual and on-site care for blue-collar workforces, says the capital will help it expand into 20 new states and add services typically offered only in person; reports peg total funding at about $18.3 million. - learn more
                                        • Alexandria Venture Investments participated in Accipiter Biosciences’ $12.7M seed round, which was co-led by Takeda and Flying Fish Partners. The Seattle startup is developing AI-designed de novo protein therapeutics that can combine multiple mechanisms in a single molecule, and it also announced partnerships with Pfizer and Kite Pharma alongside the financing. The company says the funds will advance preclinical programs in immunology and oncology and further build out its computational design platform. - learn more
                                        • Rebel Fund participated in Cactus’s $7M seed round alongside Wellington Management, Y Combinator, and Pelion Venture Partners. Cactus builds a 24/7 AI copilot for home service businesses that answers calls, qualifies leads, books jobs, and manages follow ups to capture after hours demand. The company says the funding will support product expansion and go to market growth in the United States. - learn more
                                        • B Capital joined the angel round for Microtide Biotechnology (also known as Weitao Bio), which raised over RMB 100 million, led by Qiming Venture Partners. The Shanghai company, spun out from Sile Biomedicine’s in vivo CAR T platform, is developing targeted LNP delivered in vivo CAR T therapies for blood cancers and autoimmune diseases, and will use the funds to advance its first candidate and further develop its core platform. - learn more
                                        • Patron co led Flint’s $15M Series A, with participation from the USC Viterbi School of Engineering alongside Basis Set Ventures, AME Cloud Ventures, Afore Capital, and Y Combinator. Flint builds an AI platform that helps teachers personalize K 12 learning, and the company says the funding will accelerate product development and scale the service to more schools. - learn more
                                        • Rebel Fund participated in Freya’s $3.5M round alongside Y Combinator, 212 VC, N1 Tech, BD Partners, and others. Freya is building voice automation tools that let companies create and manage natural language voice workflows, aiming to replace brittle IVR systems with more flexible, AI powered voice agents. The company says the funding will accelerate product development and early go to market efforts. - learn more
                                        • Regeneration.VC led Hullbot’s roughly $10.6M Series A, with participation from Climate Tech Partners, Katapult Ocean, Folklore, Trinity Ventures, Rypples, NewSouth Innovations, and Bandera Capital. The Australian startup builds autonomous hull-cleaning robots that remove biofouling to cut ship fuel use and emissions, and it plans to use the funding to ramp manufacturing, expand global service hubs, and develop larger robotic platforms. - learn more
                                        • M13 led Teleskope’s $25M Series A, with continued participation from Primary Venture Partners and Lerer Hippeau. Teleskope builds an agentic data security platform for the AI era, and says the capital brings total funding to $32.2M to accelerate product development and scale go to market. - learn more
                                        • SmartGateVC participated in Coherence Neuro’s $10M seed round led by Topology Ventures and Artesian, alongside Blackbird, Possible Ventures, XEIA, Jumpspace, Divergent, Spacewalk VC, and others. San Francisco based Coherence Neuro is developing a closed-loop, bi-directional neurotechnology platform to treat cancers like glioblastoma by decoding and modulating electrical signals; the funding will support its first human trials and further product development. - learn more
                                        • Rebel Fund participated in Mecha Health’s $4.1M seed round led by Valia Ventures, alongside Y Combinator, Reach Capital, and Phosphor Capital. Mecha Health is an applied AI lab that builds foundation models for radiology which read medical images and generate fully structured reports, and the new capital supports continued development and deployment of these systems. - learn more

                                            LA Exits

                                            • Green Econome was acquired by VCA Green, the sustainability practice of VCA Consultants. The Los Angeles firm is known for lifecycle strategies, building performance reporting, and compliance services like ENERGY STAR, LEED, CALGreen, and Title 24; combining it with VCA Green’s energy modeling, project management, and field verification creates a single team serving both new construction and existing buildings. Marika Erdely, Green Econome’s founder, is joining VCA Green as a principal. - learn more
                                            • InData Consulting was acquired by The 20 MSP as part of a three-company deal that also included Red Level Group and iStreet Solutions. The additions expand The 20 MSP’s footprint in California, Arizona, Michigan, and the Sacramento area, bringing its total to 44 acquisitions in about three years. The company says it sources targets from its peer group to speed integrations and reduce attrition. - learn more
                                            • Caulipower was acquired by Urban Farmer, a Paine Schwartz Partners portfolio company, creating a vertically integrated “better for you” frozen foods platform that pairs Urban Farmer’s manufacturing with Caulipower’s nationwide brand and distribution. Caulipower will continue operating under its name, with founder Gail Becker joining Urban Farmer’s board; financial terms were not disclosed. - learn more
                                            • StudyOS was acquired by Sitero, a technology-enabled CRO, which simultaneously launched SiteroAI to position itself as the industry’s first fully AI-powered CRO. StudyOS’s Ash clinical-trial agent will be integrated with Sitero’s Mentor eClinical suite, with Sitero projecting 20–30% efficiency gains across the trial lifecycle beginning in 2026; terms were not disclosed. - learn more

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                                                    Cap Tables to Costumes: Whatnot’s Mega Round and Your LA Weekend Plan 🎃

                                                    🔦 Spotlight

                                                    Happy Friday Los Angeles!

                                                    Live shopping’s LA moment

                                                    Whatnot, the LA born marketplace for live auctions, raised $225 million at an $11.5 billion valuation. The round was co led by DST Global and CapitalG, with Sequoia, Alkeon, a16z, Greycroft, BOND, and others participating. The company says the money goes to international expansion, trust and safety, and seller tools - fuel for a category that has moved from “Is this a fad?” to “How big does this get in the West?”

                                                    Why it matters

                                                    If that valuation sounds sudden, you’re not imagining it. Whatnot’s last raise in January valued the company around $5 billion. Less than 10 months later, the number has more than doubled, tracking a year of surging GMV and a social commerce flywheel spinning across TikTok Shop, YouTube, and Amazon. For LA, it’s a marquee bet on the creator commerce stack we do best: community, content, and culture that converts

                                                    The bigger picture

                                                    The implications go well beyond trading cards. Live, personality led storefronts are evolving from hobby to underwritable small business. If Whatnot uses this cash to keep fraud low and throughput high, we could see an LA export take root globally, not just as an app category but as a job category. That is a storyline to watch into Q4 and beyond.

                                                    From cap tables to costumes: Halloween in LA 🎃

                                                    You’ve earned some offline fun. Heading into Halloween weekend (Oct. 31–Nov. 2), LAist’s guide has a little of everything: neighborhood Día de los Muertos celebrations (from the Canoga Park family festival to an ofrenda for pets at Annenberg PetSpace in Playa Vista), the Frogtown Arts weekend along the LA River, plus plenty of screenings and concerts across town. Bookmark the list, pick your neighborhood, and maybe swap “add to cart” for “add to calendar.”

                                                    Send tips, sightings, and spooky term sheets our way. Venture deals for LA companies, funds, and acquisitions are below.

                                                    🤝 Venture Deals

                                                        LA Companies

                                                        • Bryan Johnson’s longevity startup Blueprint raised $60M from a celebrity heavy group of backers including Kim Kardashian, Naval Ravikant, Alex Hormozi, Ari Emanuel, and the Winklevoss twins to turn Johnson’s personal Blueprint regimen into a broader consumer platform. The company says the funding will help package diagnostics, biomarker tracking, prescriptions, nutrition, and other longevity services into an accessible offering. The round underscores mainstream interest in data driven wellness despite past questions about Blueprint’s trajectory. - learn more
                                                        • Rarity PBC raised $4.6M in seed financing to advance a one-time, autologous blood-stem-cell gene therapy for ADA-SCID (“bubble baby” disease) that it has licensed from UCLA researcher Dr. Donald Kohn. The round, led by biotech investor Steve Oliveira (Nemean Asset Management), will support manufacturing and steps toward commercial readiness. - learn more
                                                        • Fruitist raised $150M led by a vehicle managed by J.P. Morgan Asset Management, with participation from Aliment Capital and Ray Dalio’s family office. The LA-based superfruit brand says the funding will fuel crop expansion, cold storage, and automation as it scales distribution to 12,500+ stores and targets continued growth following roughly $400M in trailing sales. - learn more
                                                        • Homecourt, the Los Angeles based luxury home and personal fragrance brand founded by Courteney Cox, raised an $8M Series A led by CULT Capital. The company says the funding will fuel brand marketing, team hires, and infrastructure as it expands beyond DTC into 300+ retail doors including Nordstrom, Bluemercury, and Revolve. Homecourt has broadened from home care into body and laundry collections since launching in 2022. - learn more

                                                            LA Venture Funds

                                                            • Aliavia Ventures participated in Human Health’s $8.5M raise, joining LocalGlobe, Airtree, Skip Capital and Scale Investors to back the precision health platform from former Canva product leaders Georgia Vidler and Kate Lambridis. The funding will support international expansion, deepen product intelligence in areas like women’s health, respiratory and pain, and scale Human Evidence for patient driven research; Human Health reports more than 200,000 users and 20 million logged health actions to date. - learn more
                                                            • Riot Ventures participated in EnduroSat’s $104M funding round, alongside Google Ventures, Lux Capital, the European Innovation Council Fund, and Shrug Capital. The Sofia based satellite manufacturer says the capital will scale production of its ESPA class (200 to 500 kg) modular satellite buses, targeting capacity of up to two satellites per day at a new 188,340 square foot Space Center so constellation customers can get to orbit faster. The raise is EnduroSat’s second this year and follows a €43 million round in May. - learn more
                                                            • Rocana Venture Partners participated in Recess’s $30M Series B, which was led by CAVU Consumer Partners and included Midnight Ventures, Torch Capital, Doehler Ventures, KAS Venture Partners, Vanquish, and Craig Kallman. The relaxation-beverage company will use the capital to grow its team, expand retail distribution, and ramp marketing, and it also named former Nutrabolt executive Kyle Thomas as President and Co-CEO to help scale the brand. Recess says it now sells in more than 15,000 U.S. stores, positioning it to capitalize on demand for functional relaxation and alcohol-alternative drinks. - learn more
                                                            • Terasaki Institute participated in iOrganBio’s $2M launch financing, joining First Star Ventures (lead), IndieBio, Cape Fear BioCapital, 2ndF, and Alix Ventures. The Chapel Hill based startup unveiled CellForge, an AI powered cell-manufacturing platform that pairs predictive models with high throughput control to engineer reproducible human cells and organoids for drug discovery and cell therapies. The funds support product development and early deployments. - learn more
                                                            • Fox Sports made a strategic investment in Shadow Lion, the creative agency and IP studio co-founded by Tom Brady, forming a partnership to develop talent-led originals, digital content, long-form projects, and marquee live events. The deal includes a new Los Angeles hub for Shadow Lion on the Fox lot, with early tentpoles including a University of Michigan football docuseries from executive producers Brady and Jim Harbaugh and collaboration on the Fanatics Flag Football Classic. - learn more
                                                            • EB Medical Research Foundation participated in Eliksa Therapeutics’ funding to advance ELK-003, a biological eye drop for ocular complications in epidermolysis bullosa. The round, led by DEBRA Research with support from Cure EB, the Abe Fund, and EB Research Partnership, backs an ongoing pilot study with 18 patients enrolled and no drug-related side effects reported among the first eight who completed treatment. - learn more
                                                            • Patron and HartBeat Ventures participated in Sweatpals’ $12M seed round alongside a16z speedrun, backing the community fitness platform as it expands its “daylife” model of IRL wellness events. The funding will support product and market expansion for hosts and gyms using Sweatpals for discovery, ticketing, memberships, and marketing. Business Insider reports the startup now reaches over 1 million monthly users and is growing into new U.S. cities. - learn more
                                                            • UP.Partners participated in Lula Commerce’s $8M Series A, led by SEMCAP AI with Rich Products Ventures, GO PA Fund, NZVC, Green Circle Foodtech Ventures, and Outlander VC also joining. The Philadelphia company, active with more than 2,000 retailers, offers an AI powered digital commerce suite for convenience stores covering order ahead, pickup, delivery, and back office tools, and says the round brings total funding to over $16M to meet rising demand. - learn more
                                                            • Navitas Capital led WorkHero’s $5M seed to scale its AI powered back office platform for small HVAC contractors, with Workshop Ventures, York IE, and strategic angels also participating. WorkHero combines agentic AI with human account managers to handle invoicing, permits, rebates, warranty registrations, and pricebooks so owners spend less time on admin. The funding will expand engineering and product and add new services such as call answering and bookkeeping. - learn more

                                                                LA Exits

                                                                • DMI was acquired by Stingray, adding about 8,500 U.S. retail locations to Stingray’s in-store audio advertising network and bringing its total footprint to roughly 33,500 sites. The deal cements Stingray’s leadership in pharmacy retail audio across the two largest chains and brings DMI’s creative services, including cinema advertising and brand marketing, under its umbrella, with CEO Tena Clark staying on to help integrate and expand the offering. - learn more

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