Read Activision's Letter to Staff After Firing 20 Employees

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.

Read Activision's Letter to Staff After Firing 20 Employees

Activision Blizzard addressed ongoing employee concerns over workplace culture in a letter to staff Tuesday, and said it disciplined 40 employees for inappropriate workplace behavior.

The letter was written by Blizzard's Executive Vice President for Corporate Affairs (and former U.S. Homeland Security adviser) Frances Townsend, who joined the company in March and sent it to employees via email the afternoon of Oct. 19.

Recently 20 Activision Blizzard employees were fired and 20 more were reprimanded following widespread accusations of sexual harassment and discrimination based on gender.


In a copy of the letter viewed by dot.LA, Townsend said Activision did find misconduct had taken place after conducting its own investigation, and claimed it disciplined the offenders accordingly.

Townsend also said the company has seen an increase in harassment and workplace culture-related reports in recent months, both new and from years ago, as people began to talk more openly about the issue. She promised increased investment in training resources and more transparency about the investigation process and its results.

Activision wouldn't disclose which employees were reprimanded or let go but Townsend said in the letter that Activision Blizzard management is encouraged to "not hesitate to terminate or discipline those who violate our policies and fail to contribute to a positive culture that treats all members of our team with respect."

In July, Activision employees walked out to protest the game publisher's misogynistic and allegedly harmful company culture.

The walkout happened a week after the state of California filed a lawsuit against Activision for discriminating against female employees and having a "frat bro" culture where sexual misconduct and outright harassment were accepted. The lawsuit noted that women accounted for only 20% of the game publisher's staff.

Last month the Securities and Exchange Commission launched its own investigation into Activision. The Wall Street Journal reported the investigation is looking into how the company handled allegations of discrimination and sexual harassment in the workplace.

Take a look at the letter in its entirety below.

Today, Activision Blizzard's Executive Vice President for Corporate Affairs Fran Townsend shared the following email update with our employees:

Everyone,

As one of the world's largest and most influential companies, our future depends on fostering a company culture where all feel safe and heard. That comes with the responsibility of earning our employees' confidence that, when they speak up, we'll do the right thing. We must earn our team's confidence that, when they speak up, they will be heard. I have been quietly listening over the last few months to your comments, concerns, and observations. I am grateful to everyone who shared their points of view – especially those who challenged us to do better. It's important to me that you know how seriously I take this, and how committed I am to the next steps we will take together. We are working tirelessly to ensure that, moving forward, this is a place where people are not only heard, but empowered.

We have a committed team dedicated to this work. However, in listening to feedback over the past several months it is clear to me that we need to do more, and with a renewed urgency. We have expanded our compliance team and have even greater initiatives already underway to enable meaningful improvements to our company's culture.

Working with Jen Brewer and the team, we have thoroughly evaluated our broader compliance, employee relations, and investigative procedures, including how we handle claims and communicate with the members of our team who are involved. And today, I would like to highlight our progress on all these goals, along with some changes to build a more accountable workplace and culture.

Among the input we have received, there have been several clear and actionable recommendations, from many of you and from our Ethics & Compliance team. Among them, three key themes emerged:

First, do not hesitate to terminate or discipline those who violate our policies and fail to contribute to a positive culture that treats all members of our team with respect.

Second, be transparent, not only about our investigations processes, but also about the actions we take.

Third, invest resources and people into ethics, culture, and training.

First, I wanted to give you a sense of the work we've been doing to investigate all claims and concerns raised by members of our team:

- Ongoing Investigations: Nothing is more important to me - and the entirety of Activision Blizzard leadership - than making sure everyone feels safe and equal in this workplace. There is no place for harassment, discrimination, or retaliation in this company.

In recent months, we have received an increase in reports through various reporting channels. People are bringing to light concerns, ranging from years ago to the present. We welcome these reports, and our team has been working to investigate them, using a combination of internal and external resources. Based on the information received in the initial report, they are assigned into different categories, and resources are allocated to prioritize the most serious reports first. In connection with various resolved reports, more than 20 individuals have exited Activision Blizzard and more than 20 individuals faced other types of disciplinary action.

We continue to look into any issues or reports raised through the many channels that are available. But it bears repeating: Reports can be submitted anonymously, and there is zero tolerance for retaliation of any kind.

Second, we have begun work to improve how we address complaints, including the restructuring of two teams, Ethics & Compliance and Employee Relations, to more efficiently and effectively handle the investigation of complaints.

- Ethics & Compliance Team Leadership: I am very happy to announce the promotion of Jen Brewer to Senior Vice President, Ethics and Compliance. Jen has already been skillfully guiding the compliance function for many years. More importantly, she has been instrumental in helping me to reimagine how our investigative, training, and employee relations functions can work better together, along with the resources those teams will need to make our company better.

- Way To Play Heroes: These are the Ethics & Compliance program's unsung heroes. They volunteer their time to build bridges – by helping fellow members of our team navigate their reporting options, championing speaking up, and advising us on how we can strengthen the Ethics & Compliance program. The Heroes are crucial to our success. We are expanding the program by adding more Heroes and investing resources to better support the work they do. I am pleased to announce that effective immediately, Heroes will receive one additional vacation day a quarter to recognize their contributions to this very important work.

- Investigation Team Resources: Ensuring we have the capability to properly look into reports is critical. In the past couple months, we have already added three full-time positions to address the workload. Moving forward, we plan to scale this significantly, adding 19 full-time roles to our overall Ethics & Compliance Team, which include team members dedicated to investigations, including the ability to take live calls, as well as data analytics and communications, to help us understand how we're doing and help us better convey results of our work. Two of those roles will be specifically dedicated to overseeing investigations related to the EMEA and APAC regions.

- Investigation Team Structure: We are combining our investigations groups into one centralized unit within a central ABK Ethics & Compliance Department, which will be separate from business units and other groups like Human Resources or Employee Relations. This will allow investigators to be more efficient and coordinated, aligned on approach, and enable consistent decision making. It also allows us to scale resources more appropriately versus considering how to allocate team members across disparate units.

- Employee Relations Team: Alongside improving how we investigate concerns or claims, we need to consider how best to communicate with members of our team affected by these issues. Working with Chief People Officer Julie Hodges, this will be a key focus for the Employee Relations team. This will allow us to better bridge our improved investigative process to a recommended action, whether it's discipline, additional training, or other next steps. Our goal is to broaden our team of individuals with considerable human resources experience, ensuring we handle complaints and concerns with the care and attention they deserve.

- Transparency: We are working on additional materials that document our investigative procedures and outline what members of our team who report misconduct can expect during the investigative process. We are also working to ensure communications are transparent and time sensitive for any members of our team involved in investigations. Even more, we want to provide data reporting so we remain accountable, even if we can't always share what is happening behind the scenes. We know there's a desire to know about the outcome when misconduct is reported. Sometimes, there are privacy reasons we can't share. But where we can, we will be sharing more information with you. We will also be providing you regular aggregate data about investigative outcomes.

- Improving Training: We are preparing to triple our investment in training resources. Our intent is to deliver meaningful, real-life, scenario-based live and online training required for all members of our team, including executives - covering bystander training, speaking up, and training managers to recognize concerns and understand their obligations to escalate situations urgently and appropriately.

We are committed to making meaningful and positive change, and this is just the start. We will be sharing additional updates in the coming weeks and months. We know there is always more work to do. We are committed to continuing that work. Please continue to share your ideas and suggestions, in whatever ways you want to send them. We will work hard every day to earn your trust and confidence. Together, let's ensure that we always have a safe, inclusive, and ethical workplace that makes us all proud.

Best,

Fran

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From Metro Rails to Blended Wings: LA’s Transportation Era

🔦 Spotlight

Hello Los Angeles,

Move over Coachella, hello Stagecoach. With crowds headed east, LA might feel a little quieter this weekend, but beneath the surface, the city is busy making moves that could shape the future of travel.

Image Source: Metro

First up: a major milestone at LAX.

This June, the new LAX/Metro Transit Center Station will officially open, finally linking Metro's C and K Lines to a new ground hub near the airport.

It marks the first real rail connection to LAX in the airport’s history, a major step for a city that has long been synonymous with gridlock.

While the fully Automated People Mover system connecting the station to the terminals is still under construction and expected to open in 2026, the launch of the transit center is a critical piece of LA’s broader infrastructure upgrade ahead of the 2028 Olympics.

Even if most travelers will still rely on cars or rideshares for now, it is a sign that even the most car-centric corners of the city are starting to shift.

Image Source: JetZero

Meanwhile, in Long Beach, a local aerospace startup is aiming to transform air travel altogether and just got a major boost.

JetZero, a stealthy aviation company based in Long Beach, announced a new investment from United Airlines to advance its radical new aircraft design: the blended wing body.

Unlike traditional tube-and-wing planes, JetZero’s blended design integrates the wings and fuselage into a single structure, reducing aerodynamic drag and dramatically improving fuel efficiency.

United's investment is more than just financial support. It is a strategic bet on JetZero’s vision for cutting long-haul flight emissions in half, a critical goal as the aviation industry faces mounting pressure to decarbonize.

JetZero plans to have its first full-scale prototype flying by 2027, and if successful, it could set a new blueprint for the next generation of commercial aircraft.

For Los Angeles, it is another reminder that some of the boldest ideas shaping the future of mobility are being built right here in our own backyard.

Planes, trains, and a city learning to move a little differently. Just another week in LA.

🤝 Venture Deals

LA Companies

  • Durin, an El-Segundo startup aiming to automate drilling for critical minerals exploration, has secured $3.4M in a pre-seed funding round led by 8090 Industries. The company is developing a sensor-equipped drilling rig capable of drilling 300 meters deep, gathering data to build an automation model. The funding will support the development of this technology, with the goal of enabling unattended drill rigs within two to three years. - learn more
  • Altruist, a Los Angeles-based custodian and software platform for registered investment advisors (RIAs), raised $152M in a Series F round led by GIC, bringing its valuation to $1.9 billion. The platform streamlines account opening, trading, reporting, and billing for over 4,700 advisors. The new funding will be used to accelerate product development, expand the team, and scale enterprise capabilities. - learn more
  • Sesh, a superfan engagement platform that connects artists with fans through interactive experiences, exclusive content, and live events, has raised $7M in funding led by Miura Global. The funds will be used to expand platform capabilities, onboard more artists, and enhance technology for deeper insights and engagement opportunities. - learn more
  • Khloud, a new consumer brand founded by Khloé Kardashian, has raised $12M in an oversubscribed funding round with participation from Jessica Bixby, Serena Ventures, William Morris Endeavor (WME), and Shrug Capital. The Los Angeles-based company is debuting with a protein-rich popcorn made from whole-grain corn and its proprietary “Khloud Dust” seasoning, delivering 7 grams of protein per serving. The funds will be used to expand into additional snack categories and scale retail distribution, beginning with a Target launch on April 29. - learn more

LA Venture Funds

  • Anthos Capital co-led a $20M funding round for Theo, a New York-based crypto trading infrastructure startup. Theo enables retail investors to access institutional-grade trading strategies—such as high-frequency arbitrage and cross-chain funding rate optimization—through strategy-specific vaults, eliminating the need for technical expertise. The platform operates on a custom validator network that facilitates real-time execution across centralized and decentralized exchanges, enforcing margin requirements and system-wide overcollateralization. The funds will be used to expand Theo's validator infrastructure, integrate with additional financial platforms, and grow its user base. - learn more
  • Pinegrove Capital Partners participated in a $70M Series B funding round for Nourish, a New York-based startup offering AI-powered, insurance-covered virtual nutrition counseling. Nourish connects patients with registered dietitians to manage chronic conditions like obesity and diabetes, boasting a network of over 3,000 dietitians across all 50 states. The funds will be used to expand its provider network, enhance AI tools, and deepen partnerships with healthcare organizations. - learn more
  • Mantis VC participated in Chainguard's $356M Series D funding round. Based in Kirkland, Washington, Chainguard secures software supply chains by offering tools like secure containers, virtual machines, and libraries for open-source development. The funding will be used to expand product offerings, grow the go-to-market team, and support its expanding customer base. - learn more
  • Clocktower Technology Ventures participated in a $30M Series C funding round for Steadily, a landlord insurance provider based in Austin, Texas, and Overland Park, Kansas. Steadily offers tailored insurance solutions for rental property owners, serving policyholders across all 50 U.S. states. The funds will be used to expand operations, enhance technology, and grow the team, aiming to streamline the insurance process for landlords. - learn more
  • Blue Bear Capital participated in Ocient's recent $42.1M Series B extension, bringing the Chicago-based data analytics company's total funding to $159.4M. Ocient specializes in high-performance, energy-efficient analytics solutions for large-scale, complex data and AI workloads, leveraging its proprietary Compute Adjacent Storage Architecture® and Megalane™ technology. The new capital will be used to advance the development and delivery of energy-efficient solutions for costly, complex, and operationally burdensome data and AI workloads. - learn more
  • Group11 participated in Healthee's $50M Series B funding round, supporting the New York-based company's mission to simplify health benefits through AI. Healthee offers an AI-powered platform that helps employees and employers navigate complex healthcare systems, enhancing user experience, reducing costs, and improving care outcomes. The funds will be used to expand Healthee's product suite, scale go-to-market operations, and accelerate the development of its AI-powered tools. - learn more
  • Sum Ventures participated in Irrigreen's $19M Series A funding round. Headquartered in Edina, Minnesota, with operations in San Francisco, Irrigreen develops robotic irrigation systems that utilize digital mapping and AI to optimize water usage for residential lawns. The funds will be used to advance product development, expand manufacturing in the U.S., and enhance the company's smart lawn care solutions. - learn more
  • Ventek Ventures participated in Recce's $4M funding round. Based in San Francisco, Recce offers data-native code review tools designed to enhance data validation in AI and software development workflows. The funds will be used to advance Recce's open-source toolkit and launch its collaborative SaaS platform, Recce Cloud, aiming to streamline data validation processes across the software lifecycle. - learn more
  • B Capital led an $87M Series C funding round for Omnidian, a Seattle-based provider of performance assurance services for residential and commercial solar and energy storage systems. Omnidian offers comprehensive protection and performance plans, ensuring optimal operation and maintenance of clean energy assets. The funds will be used to scale core operations, expand into high-potential markets like Australia and Europe, and explore new product lines such as electric vehicle (EV) charging infrastructure and commercial energy storage solutions. - learn more
  • Overture VC participated in PHNX Materials' $2.5M seed funding round. Based in the U.S., PHNX Materials has developed a process to purify coal fly ash by removing impurities like sulfur and carbon, making it suitable for use in concrete production. This approach not only repurposes industrial waste but also reduces the carbon footprint of concrete by replacing a portion of cement. The funds will be used to scale PHNX's purification technology and expand its operations to meet the growing demand for sustainable construction materials. - learn more

LA Exits

  • Maza, a fintech startup catering to Spanish-speaking consumers in the U.S., has been acquired by Flex for $40M. Originally focused on helping immigrants open bank accounts and obtain ITINs, Maza shifted its services toward small business owners, such as landscapers and construction subcontractors. This pivot aligned with Flex's mission to provide comprehensive financial tools for business owners. Post-acquisition, Maza will rebrand as Flex Consumer, with its founders assuming executive roles within the combined company. The merger aims to accelerate their shared roadmap in delivering integrated financial solutions. - learn more
  • Moondust Management, a talent agency known for representing creators in travel, lifestyle, wellness, and purpose-driven content, has been acquired by Fixated, a digital entertainment platform. This acquisition aims to enhance Fixated's capabilities in content creation and brand partnerships by integrating Moondust's expertise and creator network. - learn more
  • ClaimShark, a provider of payment integrity solutions, has been acquired by Lyric, a leader in healthcare payment accuracy and integrity solutions. ClaimShark's innovative tools, including the Virtuoso command center and Replay audit platform, will be integrated into Lyric's AI-driven Lyric42 platform. This acquisition aims to enhance payment accuracy, transparency, and efficiency across the healthcare ecosystem by streamlining and simplifying healthcare transactions to eliminate waste. - learn more

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This Week in LA: Robotaxis, Reels & a $100K Challenge

🔦 Spotlight

Happy Friday, LA,

It’s Coachella Weekend 2, which means fewer cars on the road, easier restaurant reservations, and just enough quiet to hear the next wave of innovation humming through the city. This week, we’re watching more driverless cars roll in, Instagram remix your Reels feed, and a $100K climate challenge call for startups. Let’s get into it.

🚕 Zoox Is Bringing Its Robotaxis to LA

Image Source: Zoox

Amazon-owned Zoox just announced that its futuristic, steering wheel–less robotaxis are heading to Los Angeles. The company has begun mapping the city as it gears up to launch a fully autonomous ride-hailing service. These aren’t retrofitted Teslas; they’re bidirectional vehicles built specifically for autonomy, with no front, no back, and no driver seat.

It’s Zoox’s first major push beyond Northern California and Las Vegas, and it's a signal that LA is being positioned as a proving ground for next-gen transportation. As the city preps for the 2028 Olympics, Zoox is hoping to help LA reimagine what mobility looks like without a human behind the wheel.

👀 More on that here:Zoox’s LA Expansion

💬 Instagram’s New “Blend” Feature

Image Source: Instagram

Instagram just announced “Blend,” a new feature that creates a private Reels feed curated for you and a friend based on your shared interests. It’s like a personalized explore page, but just for two. Think Spotify Blend, but with more memes and fewer breakup ballads.

It’s currently in testing, but if rolled out broadly, Blend could change how creators build community and how content spreads in smaller, more intimate algorithmic circles.

🔥 LACI Launches the LA Resilient Rebuilding Cup

100 days after the Palisades and Eaton fires swept through parts of LA, the Los Angeles Cleantech Incubator (LACI) is launching a new initiative: the LA Resilient Rebuilding Cup. It’s a pitch competition aimed at finding startup solutions to help LA rebuild stronger and greener.

Up to $100,000 in prizes and piloting funds are up for grabs. Finalists will pitch live on July 10 in Downtown LA, and selected winners will get the opportunity to bring their technologies to fire-affected communities. Focus areas include fire detection, renewable energy, air quality, mental health tools, resilient construction, and more.

Startups have until May 30 to apply.
📍 Apply here


🤝 Venture Deals

LA Companies

  • Parallel Systems, a Los Angeles-based company developing autonomous battery-electric railcars, has raised $38M in a Series B funding round led by Anthos Capital, with participation from Riot Ventures and others. The funding will support the commercialization of its technology, including the launch of its first commercial pilot in Georgia. This pilot, approved by the Federal Railroad Administration, will test self-propelled intermodal flatcars over a 160-mile stretch, aiming to offer a more efficient and sustainable alternative to short-haul trucking. Parallel Systems plans to use the funds to scale production of its Generation 3 vehicles and expand operations in the U.S. and Australia. - learn more

LA Venture Funds

  • Bonfire Ventures led a $7.5M seed funding round for 1Fort, a New York-based startup that automates commercial insurance workflows for brokers using AI. Village Global and others participated in the round. 1Fort's platform streamlines the insurance process by automating tasks such as application completion, quote retrieval, and policy binding, helping brokers secure better coverage for clients more efficiently. The funds will be used to enhance the platform's AI capabilities, expand the team, and grow partnerships with carriers and brokers across the U.S. - learn more
  • Strong Ventures led an ₩800 million pre-Series A funding round for LunchLab, a Seoul-based B2B startup offering corporate lunch subscription services. LunchLab provides daily lunchbox deliveries and post-meal dish collection for companies, streamlining office meal logistics. The funds will be used to expand production capacity, enhance delivery operations across Seoul, and improve their proprietary ordering app. - learn more
  • CIV participated in Crux's recent $50M Series B funding round, supporting the company's mission to streamline financing for clean energy and manufacturing projects. Crux, based in New York, operates a capital markets platform that facilitates transactions such as transferable tax credits and debt financing, aiming to enhance liquidity and efficiency in the clean economy sector. The newly acquired funds will be utilized to expand Crux's network of market participants, enhance its software infrastructure, and scale its operations to meet the growing demand for clean energy financing solutions. - learn more
  • Finality Capital Partners participated in the $11M seed funding round for Optimum, a startup incubated at MIT and based in Cambridge, Massachusetts. Optimum is developing a decentralized memory layer for Web3, utilizing Random Linear Network Coding (RLNC) to enhance data storage and propagation across blockchain networks. The funds will be used to advance Optimum's technology and expand its team to address scalability challenges in decentralized systems. - learn more
  • TIME BioVentures participated in Phantom Neuro's recent $19M Series A funding round. Based in Austin, Texas, Phantom Neuro is developing a minimally invasive neural interface called Phantom X, designed to enable intuitive control of prosthetic limbs and robotic exoskeletons. The new funding will support the company's first human trials, preclinical testing, regulatory submissions, and expanded research and development for broader applications of its technology beyond prosthetic limbs. - learn more
  • Veridical Ventures participated in a $2M seed funding round for SlashExperts, a San Francisco-based B2B platform that connects prospective buyers with existing customers to facilitate authentic peer conversations. This approach aims to build trust and expedite sales processes. The funds will be used to enhance the platform's features, ensuring seamless and effective connections between buyers and users. - learn more
  • F4 Fund participated in Boby.ai's $1.25M seed funding round, supporting the Istanbul-based startup's mission to develop AI-powered mobile applications. Boby.ai, founded by Gökçe Nur Oğuz, Onur Olgun, and Berat Oğuz, focuses on creating user-friendly AI tools for end-users, such as their flagship app Mozart.ai, which enables users to generate personalized music using AI. The funding will be used to expand the team and develop new AI-based mobile products. - learn more
  • Riot Ventures and Impatient Ventures participated in Blue Water Autonomy's recent $14M seed funding round. Based in Boston, Massachusetts, Blue Water Autonomy is developing fully autonomous, unmanned ships designed to operate on the open ocean for extended periods. The company plans to use the funds to expand its engineering team, accelerate ship testing, and integrate various payloads onto its platform. - learn more
  • Aliavia Ventures led a $1M pre-seed funding round for InsightWise, an AI-powered platform based in Sydney, Australia, designed to streamline the consulting process by automating tasks such as proposal development and strategy creation. The funding will be used to enhance the platform's capabilities and support expansion into the U.S. market. - learn more

LA Exits

  • Pex, a leading provider of digital rights technology, has been acquired by Vobile, a global leader in digital content protection and transaction services. This acquisition enhances Vobile's services for the music industry and strengthens its position as a global solution provider for digital audio content. - learn more

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Rain's Latest Funding Fuels the Future of Financial Wellness

🔦 Spotlight

Happy Friday,

This week, the LA tech scene buzzed with news that Rain, a leader in financial wellness, hassecured $75 million in Series B equity funding, spearheaded by Prosus. This isn't just another funding round; it's a pivotal chapter in Rain's mission to transform how American workers interact with their earnings.

Since its inception, Rain has been at the forefront of innovation in financial technology, particularly with its earned wage access solutions. The concept was simple yet revolutionary: allow workers to access their earned wages instantly, mitigating financial stress and dependency on high-interest payday loans. This vision quickly gained traction, propelling Rain from a promising startup to a key player in the fintech space.

What makes this Series B funding particularly noteworthy is what it represents on a larger scale. It's not just an influx of capital but a strong endorsement of Rain's potential to expand even further. With previous rounds fueling their initial growth and strategic partnerships, such as their notablecollaboration with Marqeta to enhance payment technologies, Rain has steadily built a foundation not just for success but for significant impact.

As Rain secures this significant new funding, their initiative to reshape financial wellness is set to expand dramatically, showcasing the profound impact tech can have on everyday financial challenges.

Looking forward to seeing how their innovations will drive change in the financial landscape.

🤝 Venture Deals

LA Companies

  • Dosen, a Los Angeles-based HRtech startup founded by Ronan Wall, Victor Burke, and Cian McCarthy, has secured $2.3M in an oversubscribed pre-seed funding round led by Affinity Ventures. The company offers an AI-powered platform that aligns employee-led learning with business goals through personalized, gamified development programs. The funds will be used to scale the platform, enhance AI-driven personalized learning, and improve employee engagement and productivity. - learn more
  • Plug, a Santa Monica-based company operating an EV-exclusive wholesale online auction platform, has secured $6.7M in an oversubscribed seed funding round led by Floodgate, Autotech Ventures, and A*. The company has also launched Plug Trade Desk™, the first EV-focused service designed to help dealers confidently price, move, and monetize trade-ins. The newly acquired funds will be used to enhance Plug's technology and expand its services, aiming to support dealers in navigating the growing used EV market. - learn more
  • Gallatin AI, a defense tech startup, has raised $15M in seed funding led by 8VC to scale its AI-powered logistics platform, Navigator. The tool helps military logisticians predict, plan, and execute operations more efficiently in contested environments. Funds will be used to expand the team and deploy the platform across military services. - learn more
  • BLNG AI, a generative AI platform based in Los Angeles and Paris, raised $3M in seed funding led by Speedinvest to streamline jewelry design by turning sketches into photorealistic renderings and animations. The funding will support commercialization, team expansion in Europe and the U.S., and the launch of a subscription-based app for luxury brands and independent jewelers. - learn more
  • Amca, a newly launched aerospace company focused on modernizing the industrial supply chain, has raised $76M in funding from investors including Caffeinated Capital, Founders Fund, Lux Capital, Andreessen Horowitz, and others. The company plans to acquire specialized suppliers and develop new aerospace products, aiming to strengthen and future-proof the sector’s manufacturing and innovation capabilities. - learn more
  • Turbine Finance Corp., a Santa Monica, California-based data science-driven liquidity platform, has raised a total of $21.75M in equity funding, comprising a $13M Series A round co-led by Alpha Edison and TTV Capital, and a previously unannounced $8.75M seed round with participation from Fin Capital, B Capital, and Sozo Ventures. Additionally, the company secured up to a $100M warehouse facility from Silicon Valley Bank to provide credit facilities to venture investors. The combined funding of $121.75M will be used to deploy the warehouse line and expand Turbine's data science team. Turbine's platform enables private equity and venture firms to offer limited partners access to the value of their portfolio investments without reducing exposure, leveraging machine learning to expedite underwriting processes. - learn more
  • Gente Beauty, an innovative Brazilian body care brand, has received a lead investment from Webster Capital, a private equity firm specializing in consumer and healthcare sectors. This partnership aims to support Gente Beauty's growth and expansion in the beauty industry. - learn more
            LA Venture Funds
            • Alexandria Investment Partners participated in a $41M Series A round for Solu Therapeutics, a Boston-based biotech company developing targeted protein degradation therapies. The funding will advance its lead candidate, STX-0712, which recently entered a Phase 1 clinical trial for CMML and other advanced blood cancers. - learn more
            • Calibrate Ventures participated in SigIQ.ai's $9.5M seed funding round. SigIQ.ai, based in Berkeley, California, is an AI tutoring startup focused on providing personalized education through advanced AI models. The funds will be used to hire top talent, enhance their AI models, and scale their platforms to educational systems worldwide. - learn more
            • Rusheen Capital Management participated in Zero Industrial's $10M Series A funding round, aiming to accelerate the development of thermal energy storage solutions in North America. Zero Industrial focuses on deploying large-scale thermal energy storage projects to enhance energy efficiency and support decarbonization efforts. The funding will be used to expand their project pipeline and advance the commercialization of their technology. - learn more

            LA Exits

            • Bread Beauty Supply has been acquired by Cost of Doing Business (CODB), a holding company founded in 2024 by Topicals founder and CEO Olamide Olowe and president Sochi Mbadugha. The acquisition aims to expand Bread's retail presence in the U.S., starting with an increased footprint in Sephora stores. Founder Maeva Heim will continue as Chief Creative Officer, focusing on the brand's creative direction, while CODB will manage strategic operations. This move reflects CODB's commitment to supporting Black-owned businesses and fostering diversity in the beauty industry. - learn more

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