Relativity Space targets more funding, Marvel Snap developer secures $100M
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Happy Friday Los Angeles!
🔦 Spotlight
Two companies are surging forward in Los Angeles’ most prominent tech industries, aerospace and gaming.
Long Beach-based Relativity Space, known for launching the first 3D-printed rocket, is reportedly securing additional funding to maintain its valuation at $4.2 billion. The funding round is led by existing investors Bond Cap and Social Capital, indicating ongoing confidence in Relativity Space's approach to aerospace manufacturing. The company's success highlights the transformative potential of 3D printing in the space industry, symbolizing a dynamic and rapidly evolving era in private space exploration.
Irvine-based game development studio Second Dinner, not to be confused with second breakfast from Lord of the Rings, known for the massive success of Marvel Snap secured a $100M Series B investment led by LA-based, Griffin Gaming Partners. With 22 million+ downloads and $200 million+ in revenue since its 2022 launch, MARVEL SNAP continues to thrive, and Second Dinner plans to use the investment to develop new titles, incubate original IP, further expand globally, and “buy a lot of boba".
🤝 Venture Deals
Just Announced
- Second Dinner, a five-year-old gaming studio based in Irvine, behind Marvel Snap, a digital card game, raised a $100M Series B round led by Griffin Gaming Partners. -learn more
- Sway (formerly Returnmates), a technology company enabling a customer-centric delivery and return experience, raised a $19.5M Series A led by 7GC. -learn more
- Halogen Ventures participated in a $5M Series A for WTHN, a wellness startup that offers products based on traditional Chinese medicine. -learn more
- Fika Ventures participated in an $8M Seed Round for Dispatch (formerly OneAdvisory), a wealth technology company that enables effortless client data management for registered investment advisors. -learn more
LA Exits
- TTM, an El Segundo, Calif.-based provider of thermoformed and flexible packaging solutions for foodservice, food production, and grocery was acquired by AmerCareRoyal. - learn more
Actively Raising
- ReelCall, Inc., an entertainment technology company focused on powerful apps and platforms that help build and maintain the professional network of connections vital to career growth, is raising a $850K Pre-Seed Round. - learn more
- CZero, a hard-tech startup that is developing a technology for decarbonizing natural gas, is raising a $1.5M Seed Round. - learn more
- Couri, a technology startup addressing last-mile delivery issues, is raising a $450K Pre-Seed Round at a $2.2M post money valuation. - learn more
- Sweetie, a marketplace to help people plan date nights, is raising a $250K Angel Round. - learn more
- StartupStarter, an investment platform that provides real-time data and analytics on startups, is raising an $850K Angel Round. - learn more
If you’re a founder raising money in Los Angeles, give us a shout, and we’d love to include you in the newsletter!
📅 LA Tech Calendar
Sunday, January 14th
- VR Creators Hackathon hosted by DeoVR - A day of skill-building activities on VR filming and editing. The event will feature speakers covering hardware, editing methodologies, and immersive filming concepts.
Wednesday, January 17th
- LA Founders & Investors - AI LA's first event of 2024 to bring together founders and investors in AI. The night will start with networking followed by a fireside chat with two special guests.
Thursday, January 18th
- Los Angeles Startup Arena - An afternoon in Santa Monica filled with startup pitches, an investor panel and presentation, and investor and founder networking.
- Panel + Happy Hour: Raising Capital in 2024 - This event, hosted by the Greater Los Angeles Tech and Entrepreneurship Group, is about preparing entrepreneurs for 2024. In it they will talk about the current fundraising environment, and what to expect going into Q1.
- S*xTech Mixer @XBIZ LA - Come meet the S*xTech community in the heart of Los Angeles! Romance, dating, sexual wellness, intimacy, privacy, communication, safety - all of it is being innovated today across the $100B+ industry.
Saturday, January 20th
- The Future of Gaming: Opportunities in Connected Ecosystems - Join gaming enthusiasts and hear from speakers touch on the three foundations shaping the next phase of gaming technology: game transactions, privacy and security; authorship, generative AI, and new IP models; and decentralization, distribution, and extended gameplay. After the panel discussion there will be audience Q&A along with networking afterward.
Wednesday, January 24th
- The Female Funders Club - Join this monthly networking event Wednesday evening in Santa Monica and connect with other tech-oriented investors, wealth managers, asset managers and women who are interested in starting their tech investment journey.
Have an awesome event coming up? Reach out to be featured on next week’s Newsletter!
📙 What We’re Reading
- California is looking to reduce traffic with the help of AI. - learn more
- Netflix Games gains traction with installs up 180% year-over-year in 2023, thanks to GTA and others. -learn more
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
