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LA-Based Crypto CEO Pleads Guilty to $21M Fraud
Steve Huff
Steve Huff is an Editor and Reporter at dot.LA. Steve was previously managing editor for The Metaverse Post and before that deputy digital editor for Maxim magazine. He has written for Inside Hook, Observer and New York Mag. Steve is the author of two official tie-ins books for AMC’s hit “Breaking Bad” prequel, “Better Call Saul.” He’s also a classically-trained tenor and has performed with opera companies and orchestras all over the Eastern U.S. He lives in the greater Boston metro area with his wife, educator Dr. Dana Huff.
In a 2018 initial offering of his company’s BAR cryptocurrency, Titanium Blockchain CEO Michael Alan Stollery managed to raise $21 million—a successful launch by any measure. On Monday, the 54-year-old Reseda resident pleaded guilty to a single count of securities fraud in the U.S. District Court in L.A. Stollery could face decades in prison.
According to the Dept. of Justice (DOJ), Stollery, A.K.A. Michael Stollaire, bamboozled investors into buying Titanium’s BAR cryptocurrency with “false and misleading statements,” in addition to not registering BAR with the Securities and Exchange Commission (SEC).
Stollery admitted that in efforts to “entice investors, he falsified aspects of TBIS’s white papers, which purportedly offered investors and prospective investors an explanation of the cryptocurrency investment offering,” according to the DOJ.
The faked white papers were just one element of a fairly complex scheme. Stollery used “fake client testimonials” and made false claims of having “business relationships with the Federal Reserve and dozens of prominent companies to create the false appearance of legitimacy,” the DOJ said. Stollery even copped to using investor money for personal expenses, including credit card payments and paying bills for his condo in Hawaii.
The SEC first stopped Titanium Blockchain's initial coin offering—or ICO—with an emergency order in 2018, which froze the firm’s assets and placed them into receivership. The SEC alleged at the time that, in addition to everything else, Stollery was untruthful about his relationships with the Federal Reserve and big-name companies, including PayPal, Verizon, Boeing and Disney.
Stollery’s attorney Andrew Holmes told the Wall Street Journal that his client had legitimate intentions in launching his business but succumbed to “overexuberance that went beyond what he should’ve done.” Holmes said Stollery was “very remorseful and he wants to get as much money as possible back to those that put their money in.”
Andrew Holmes did not immediately respond to dot.LA’s request for further comment about the case.
Fraud is an ongoing problem in cryptocurrency and NFTs and governments worldwide are working to keep up with policing what is essentially a kind of digital Wild West. According to the FTC, investors lost $1 billion to common scams like “rug pulls”—heavily promoting tokens to drive up their price before selling, taking all the invested fiat currency in the process—between 2021 and the first half of 2022 alone.
Stollery is scheduled for sentencing on November 18. He could face up to 20 years in prison.
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Steve Huff
Steve Huff is an Editor and Reporter at dot.LA. Steve was previously managing editor for The Metaverse Post and before that deputy digital editor for Maxim magazine. He has written for Inside Hook, Observer and New York Mag. Steve is the author of two official tie-ins books for AMC’s hit “Breaking Bad” prequel, “Better Call Saul.” He’s also a classically-trained tenor and has performed with opera companies and orchestras all over the Eastern U.S. He lives in the greater Boston metro area with his wife, educator Dr. Dana Huff.
steve@dot.la
El Segundo Startup Turns Tax Credits into Big Business
09:20 AM | April 04, 2025
🔦 Spotlight
Hello LA,
Step into the world of Incentify, the El Segundo-based innovator turning the headache of managing tax credits and incentives into a walk in the park. Founded in 2019, this trailblazing company is reshaping how businesses approach what was once a daunting bureaucratic challenge.
Incentify’s platform is revolutionizing the industry by helping businesses discover and effectively manage a share of the estimated $1.2 trillion in tax credits and incentives that often go unclaimed each year. This critical service not only simplifies the process but also ensures that companies can more easily access and leverage these financial opportunities to fuel their growth and sustainability initiatives.
Recently, Incentify reached a new milestone by securing $9.5 million Series A funding led by Innovent Capital Group. This significant investment underscores the market’s confidence in their innovative approach and supports their mission to expand their technological capabilities and market reach.
As Incentify gears up for this expansion, their efforts are set to make tax incentives more accessible to a broader spectrum of businesses. This is especially vital in today’s economy, where optimizing financial strategies is crucial for business resilience and growth.
Incentify's success story from El Segundo is not just about financial gains but also about empowering companies with the tools to turn complex financial engagements into strategic advantages.
Stay tuned for more from LA’s vibrant tech scene. Let’s continue to push the boundaries of what’s possible.
Enjoy your weekend, and keep innovating, LA!
🤝 Venture Deals
LA Companies
- TOGETHXR, a pioneering women's sports media and commerce brand co-founded by athletes Alex Morgan, Chloe Kim, Simone Manuel, and Sue Bird, has achieved profitability and significant growth, including tripling its year-over-year revenue and increasing its social media following by 17% year-to-date. The company has secured additional growth capital in a funding round led by Alex Morgan's Trybe Ventures. The funds will be used to expand TOGETHXR's presence in the women's sports marketplace. Additionally, media executive Nancy Dubuc has joined the company as Executive Chair, bringing her extensive experience to support TOGETHXR's mission of elevating women's sports and culture. - learn more
- Airvet, a Los Angeles-based pet telehealth platform, has secured $11M in an oversubscribed Series B-2 funding round led by HighlandX. This investment follows a year of significant growth, including a 4x increase in year-over-year revenue and a tripling of its client base. Airvet partners with leading employers across various industries, such as PepsiCo, Adobe, and Lyft, to provide employees with 24/7 access to veterinary care via video or chat. The platform's services include online pharmacy, e-prescriptions, discounted pet insurance, wellness programs, and specialty care, with recent expansions into Spanish and French language support. The funds will be used to further enhance Airvet's platform and expand its reach, aiming to make veterinary care more accessible and affordable for pet families globally. - learn more
LA Venture Funds
- Interlagos co-led a $50M Series A funding round for Aetherflux, a San Carlos, California-based startup developing satellites to collect and transmit solar energy from space to Earth. The funds will be used to expand Aetherflux's engineering team and advance the technology for its planned low Earth orbit demonstration mission in 2026. - learn more
- Bungalow Capital Management co-led a $2M seed funding round for Juno, a Denver-based startup specializing in corporate guest travel management. Juno offers an integrated platform that streamlines booking, logistics, payments, reimbursements, and support for non-employee travelers such as job candidates, contractors, and customers. The funds will be used to accelerate product development and expand partnerships, including a collaboration with ALTOUR as their first travel management company partner. - learn more
- Veridical Ventures co-led a $3.75M seed funding round for Flagship, a Sydney, Australia-based retail technology company specializing in visual merchandising solutions. Flagship's platform creates digital twins of retail stores, enabling data-driven optimization of product placement and store layouts to enhance sales performance. The funds will be used to expand Flagship's presence in the U.S. market and further develop its product offerings. - learn more
- Miroma Ventures participated in a £6.5M Series A funding round for Limitless Travel, a Birmingham, UK-based company specializing in accessible holidays for individuals with disabilities. Founded in 2015 by Angus Drummond, who was diagnosed with muscular dystrophy at 22, Limitless Travel offers curated group holidays with trained carers, ensuring accommodations and excursions meet specific accessibility needs. The investment will enable the company to enhance its technology, expand its range of destinations, and lay the groundwork for international growth, aiming to transform the lives of disabled individuals through travel. - learn more
- B Capital participated in a $20M Series A funding round for Gable, a Seattle-based company specializing in data management solutions. Gable's platform focuses on "shifting left" in data management by enabling software and data developers to collaboratively build and manage high-quality data assets through API-based data contracts. The funds will be used to accelerate product development and expand Gable's team to meet the growing demand for data collaboration tools. - learn more
- Rebel Fund participated in a $3.8M funding round for Sohar Health, a health technology company. Sohar Health is developing an AI-powered platform designed to streamline patient intake and triage, aiming to enhance access to healthcare services. The funds will be used to accelerate product development and expand the company's reach within the healthcare industry. - learn more
LA Exits
- Tixologi, a next-generation ticketing platform, has been acquired by Punchup Live, a New York-based comedy platform. This strategic move integrates Tixologi's advanced ticketing technology into Punchup Live's ecosystem, enabling seamless, direct-to-fan ticket sales for comedians and venues. The acquisition aims to enhance the ticket purchasing experience by providing features such as fast checkout, unified outreach tools, and advanced anti-scalping solutions, thereby empowering comedians to connect more effectively with their audiences. - learn more
- InVisit, a Calabasas, California-based provider of cloud-based visitor management solutions, has been acquired by Motorola Solutions. InVisit's platform streamlines visitor registration, access, and host notifications across sectors such as commercial offices, education, and healthcare, enhancing security through features like blocklist screening and real-time guest activity insights. This acquisition aims to integrate InVisit's capabilities into Motorola Solutions' Avigilon Alta security suite, offering enterprise customers a unified, cloud-native approach to managing security threats and improving operational efficiency. - learn more
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Los Angeles’ Top Startup Incubators and Accelerators
06:00 AM | December 30, 2021
Snap Yellow accelerator program heads\u00a0Alexandra Levitt (left) and\u00a0Mike Su.
Whether you are making medical devices or movies, if you have a promising startup chances are there’s someone out there to help.
Southern California is home to an armada of accelerators, incubators, startup studios and other programs designed to help new business owners develop their vision and launch the next billion-dollar business.
Some of these programs are run by investors, who often go on to back the companies they incubate in later rounds. Others were created as a way for existing companies like the Walt Disney Co. or the Los Angeles Dodgers baseball team to mine talent in their backyard for future revenue opportunities. Programs like the LA Cleantech Incubator target companies from across the globe that are developing tech to mitigate the climate crisis.
While some accelerators opt to provide funding outright in exchange for an equity stake, some prefer to not financially invest, and instead offer founders a place to work, access to mentors, and a full calendar of networking opportunities to help them connect to investors who might look to cut a check.
Local companies that grew from accelerators include Dollar Shave Club, which began at Mike Jones’ Science Inc. in Santa Monica and was sold to Unilever for $1 billion in 2016. Bill Gross’ Pasadena-based IdeaLab has also led several startups to big exits, including crypto exchange Coinbase which was valued at $80 billion when it completed an IPO this April.
Most of these accelerators accept applicants from both in and outside LA County, and some offer virtual workshops. Here’s a list of the top programs in LA that are helping new startups get off the ground.
GENERAL TECH ACCELERATORS
AmplifyLA’s accelerator backs early-stage companies that are local to L.A. County. Besides funding them through its accelerator, it works with startups in all industries to connect them to a network of L.A.-based startup founders and investors to raise additional funding once they leave the program. Notable past companies that used AmplifyLA include wine subscription firm Winc and on-demand moving and storage company Clutter.
Location: Venice Beach
Type of Funding: Pre-seed, early stage
Focus: Software, emerging technology companies, D2C brands
Serial entrepreneur Bill Gross founded IdeaLab in 1996, and it’s since backed over 150 companies and seen 45 of those either go public or be sold. IdeaLab backs companies regardless of their growth stage or industry but has a history of backing tech companies focused on environmental or social change. Success stories include robotics firm Elementary, crypto exchange Coinbase and GIF database Tenor.
Location: Pasadena
Type of Funding: All stages, focus on seed and early stage
Focus: Agnostic, focused on any tech company
Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of L.A. Director Matt Kozlov said Techstars L.A. looks to fund a wide range of companies but does try to target ones working in industries that are strong in L.A., like healthcare, artificial intelligence, e-commerce, retail, property tech, software as a service, and consumer tech.
Location: Downtown Los Angeles
Type of Funding: Pre-seed, seed rounds
Focus: Aerospace, energy, robotics, wellness, entertainment, mobility/logistics, education
Notable Companies: Sanity Desk, Lightbox
Grid110 offers founders two programs: a 12-week residency program for early-stage startups in L.A. that haven’t launched yet, and another 12-week ‘friends and family’ program run in partnership with L.A.-based venture firm Slauson & Co. that offers a $20,000 grant and course aimed at “demystifying funding” and guiding founders. Unlike some accelerators on this list, Grid110 doesn’t require an equity stake in a company in exchange for participating.
Location: Downtown Los Angeles
Type of Funding: Early stage, seed
Focus: Agnostic, focused on any tech company
Notable Companies: Rent a Romper, Struct Club
Michael Jones’ Science is a venture capital firm focused on funding early stage startups, and it also runs a venture accelerator that’s incubated some big direct-to-consumer brands, including Dollar Shave Club and PlayVS. Founders work out of Science’s campus in downtown Santa Monica where they collaborate with Jones and other entrepreneurial mentors as well as a staff of marketing, tech, and business development professionals to get their idea off the ground. Usually, Science contributes these services in exchange for a board seat and/or equity in a startup.
Location: Santa Monica
Type of Funding: Early stage VC, seed rounds
Focus: Mobile companies, direct-to-consumer, marketplace and e-commerce
Notable Companies: Dollar Shave Club, Liquid Death, PlayVS, Arrive
Santa Monica-based VC Mucker Capital also runs Mucker Lab, its accelerator for startups that are either in their earliest stages of development or looking to grow by spinning off a business unit or revamping their strategy. It invests in an array of tech companies but prefers direct-to-consumer businesses. There’s no set duration for its program, but most founders work with Mucker for at least a year. Mucker invests between $100,000 and $175,000 in companies in exchange for an 8% to 15% equity stake.
Location: Santa Monica
Type of Funding: Pre-seed, or spin-off
Focus: Agnostic, focused on any tech or direct-to-consumer company
Notable Companies: ServiceTitan, Trunk Club, Honey
Law firm Stubbs Alderton & Markiles founded its six month preccelerator program to provide startups with access to other valuable resources besides funding -- including workshops, mentorship and a package of legal services and perks it estimates is worth $500,000. Notable alumni include location-based marketing startup Rally.
Location: Santa Monica
Type of Funding: Doesn’t contribute funding, provides networking, mentorship and legal services
Focus: Agnostic, focused on any tech company
MEDIA & ENTERTAINMENT
One of the world’s largest entertainment companies, Disney is always on the hunt for new investments that can enhance its growing streaming, parks and entertainment businesses. It accepts growth-stage startups that are looking to use tech to change the entertainment industry and runs a three-month summer program that culminates in a demo day in October. Disney will invest in these startups in addition to co-working space in L.A. and mentorship from Disney executives. Though Disney often plans to strike deals to use some startups’ tech in its business, companies that develop IP during the accelerator retain full ownership of it.
Location: Burbank
Type of Funding: Growth stage, venture-backed startups encouraged
Focus: Media/entertainment, streaming, social media, kids’ entertainment
Notable Companies: Epic Games, Holler, Caffeine
Snap Inc.’s Yellow accelerator is a 13-week program for startups developing anything that could enhance digital entertainment, including direct-to-consumer brands, new social apps, creative tools or augmented reality experiences. Snap invests up to $150,000 in each startup and provides a network of creative industry executives as mentors. It invests with the aim of using startup tech in future Snapchat or Snap Inc. projects.
Location: Santa Monica
Type of Funding: Stage agnostic
Focus: Companies at the “intersection of creativity and technology”
AEROSPACE
Starbust Aerospace Accelerator
The Starburst Aerospace Accelerator connects aerospace and defense startups with a network of mentors that help them fundraise and hire. It’s also a way for startups to gain inroads to potentially valuable contracts with the U.S. Department of Defense, which is always looking for the next SpaceX. The company also partners with UCLA's school of engineering to offer a 13 week Scale accelerator program, aimed at seed and pre-seed startups.
Location: Los Angeles
Type of Funding: Doesn’t contribute funding, provides networking, mentorship, fundraising help
Focus: Aerospace, defense
Notable Companies: SeaSatellites, Pierce Aerospace
SPORTS
Los Angeles Dodgers Accelerator
Founded in 2015 as a partnership between R/GA Ventures’ Global Sports Venture Studio and the L.A. Dodgers, this program provides up to $120,000 to local sports-focused startups in exchange for up to 6% equity. Originally for a limited time, the outfit expanded to be a year-round program in 2018.
Location: Los Angeles
Type of Funding: pre-seed, seed
Focus: Sports tech, food and beverage, sports entertainment
Notable Companies: Appetize, ShotTracker
FOCUSED ON STARTUPS BY PEOPLE OF COLOR
Movember is a men’s health charity that encourages people to grow mustaches in November to raise awareness of suicide prevention, testicular and prostate cancer, but it recently launched the Rooted & Rising division to invest in creators. Rooted & Rising backs young Black creators who are creating culture-shifting art and provides them with a network of like-minded mentors and in exchange for creating up to three pieces of content during the three-month program.
Location: Los Angeles
Type of Funding: Individual funds, up to $5,000 each
Focus: Creatives of color
The Starfish Accelerator was created this year to give creative people of color funds and mentorship to create projects. Backed by the Doris Duke Foundation, participants are given a $50,000 grant and access to several mentors for six months to produce their work.
Location: Los Angeles
Type of Funding: Individual funds, up to $50,000 each
Focus: Creative IP, creatives of color
Expert Dojo is an international group with a cohort in Santa Monica. It prioritizes backing women-led startups and companies run by people of color. It invests an initial sum of $25,000 to $100,000 in participating pre-seed and seeded startups, and often invests in follow-on rounds up to $1 million. Local success stories include travel app Elude and influencer booking site Mavens List.
Location: Santa Monica
Type of Funding: Pre-seed, seed
Focus: Tech companies led by women and/or people of color
CLIMATE & CLEAN TECH
LACI’s goal is to fund startups that are both local and global that will create technologies to mitigate the effects of climate change and create greener, smarter cities. It runs several programs including a two year-long incubator where companies work out of its Downtown LA office, and invests in up to 50 startups each year.
Location: Arts District
Type of Funding: Pre-seed, seed, Series A and B
Focus: Clean energy, renewables/sustainability, solar, smart cities
COLLEGE/UNIVERSITY-RUN PROGRAMS
UCLA Anderson Venture Accelerator
UCLA’s venture accelerator is a four-month program that has incubated over 70 companies, which have raised $144 million in funding. Led in part by entrepreneur in residence Rod Kurtz, it helps student and faculty entrepreneurs bring their ideas and research to market.
Location: Westwood
Type of Funding: Doesn’t contribute funding, provides networking and mentorship opportunities
Focus: Agnostic, focused on any tech company. Student, faculty and alumni startups preferred.
Notable Companies: UNest, KPOP Foods
USC’s startup accelerator’s next cohort begins in Spring 2022. It doesn’t take equity, but also doesn’t offer funding -- instead connecting founders with potential investors snad giving them hands-on guidance and access to coworking space.
Location: Marina del Rey
Type of Funding: Doesn’t contribute funding, provides networking and mentorship opportunities
Focus: Deep Technology, Machine Learning and AI. Student, faculty and alumni startups preferred.
HEALTH, WELLNESS & BIOTECH
Founded in 2015, Cedars-Sinai Hospital’s three-month program gives companies up to $100,000 in funding and access to mentors both on the executive and medical sides of the business. It prioritizes startups looking to innovate in patient care, cybersecurity, genetics, machine learning and medical devices.
Location: West Hollywood
Type of Funding: Early/growth stage, seed, Series A.
Focus: Healthcare, Information management, Medical technology
Notable Companies: AppliedVR, CancerAid
CITY & COUNTY-RUN PROGRAMS
Created by Mayor Eric Garcetti in 2016, this program is a nonprofit that supports local businesses with mentorship and networking for funding. Applicants must be based in L.A. County, and all areas of tech are accepted.
Location: Greater Los Angeles
Type of Funding: Doesn’t contribute funding, provides networking and mentorship opportunities
Focus: Hardware, food and agriculture, healthcare/biotech, mobility, aerospace, manufacturing
Founded and fully supported by the City of Long Beach, this accelerator provides seed funding and mentorship and also helps companies plan exit and acquisition strategies. Run by managing director Andrea White-Kjoss, the four-month program gives founders access to $75,000 to $100,000 in exchange for 6-7% equity. The accelerator launched as digital only, but is planning an in-person component soon, pending COVID regulations.
Location: Long Beach
Type of Funding: seed
Focus: Tech startups located in Long Beach
An earlier version of this post also listed the Techstars Aerospace Accelerator, which is no longer in operation.
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- LA Is The Third-Largest Startup Ecosystem in the U.S. - dot.LA ›
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- Long Beach Accelerator Set to Welcome Fourth Group of New Companies - dot.LA ›
- RYZ Labs Wants To Be a 1-Stop Shop for Startups - dot.LA ›
- Billie Jean King, Dodgers Partner on a New Accelerator - dot.LA ›
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venture capitalamplifylaidealabtechstarsgrid110science incmuckerlabsam precceleratordisneysnapla cleantech incubator
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.
https://twitter.com/samsonamore
samsonamore@dot.la
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