California's Chief Innovation Officer Isn't Concerned About Tech Companies Fleeing

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

California's Chief Innovation Officer Isn't Concerned About Tech Companies Fleeing

Like creativity or inclusivity, innovation is the buzzword people cannot get enough of these days. After all, who could possibly be against innovation?

The trend actually originated more than two decades ago after the publication of Harvard management guru Clayton Christensen's seminal 1997 book,"The Innovator's Dilemma."

After becoming gospel in corporate America, it has since found its way to some of the biggest bureaucracies – state and local governments – where chief innovation officers are being appointed to get the job done.

Los Angeles hired a chief innovation officer in 2014, San Diego added the position in January and in February, California Governor Gavin Newsom appointed former Google executive Rick Klau as the state's new chief technology innovation officer.

Klau is not concerned about tech companies fleeing to Texas or Florida and he was reluctant to wade into criticism of California's chaotic rollout of COVID vaccine distribution, which is how he first got involved in state government.

On one thing, Klau wants to be absolutely clear: He has no intention to Googlefy California's state government and its vast workforce of 210,599 full time employees.

Rick Klau

California Chief Technology Innovation Officer Rick Klau

"I'm not here to turn what my team does into what the private sector does," he said.

Klau joined Google's business development team in 2007 after the company acquired the blogging tool FeedBurner, where Klau served as an executive. Google has never done much with the product – it has even been likened to a zombie – but Klau eventually rose through the ranks to become a senior operating partner at GV, formerly Google Ventures, Alphabet's venture arm.

He departed last October and said for his next act, he was looking for something that imbued former Google CEO Eric Schmidt's ethos to tackle difficult, important problems.

He found that in public service, where mutual friends put him in touch with Amy Tong, the state's chief information officer. She enlisted him to be what he describes as an "on-call volunteer" to aid the state's COVID vaccine distribution.

"I had no specific mandate so much if there were things that needed doing or even just calls being made I was the extra help," Klau said.

A few weeks later, Tong asked Klau if he wanted to work for the state full time. Klau said he had "zero hesitation" about joining.

"Apart from his innovative work, a lot of Rick's efforts at Google centered on team development, which has been so important to the state," Tong explained. "By bringing new ideas and a fresh outlook to the state, he will help us realize our goal of using technology to power a compassionate, human-centered government ."

What exactly will Klau be doing in his new role? He's not quite sure yet.

"I think it's too early, candidly, to tell you what my top three priorities are, because I'm still figuring what work has been done that needs to continue and what projects we should wind down or hand off," Klau told dot.LA in his first extended interview since starting his new job in February.

dot.LA spoke to Klau about his new role as well as the discontent that's been brewing in California's tech community that has led to a string of high-profile departures. Answers have been edited for clarity.

There's been this narrative that's been accelerated this past year of tech people fleeing California for other states, especially Texas and Florida. There's Oracle, Tesla, Peter Thiel and other examples. Does that concern you?

I was born in California. I'm raising my children in California. I intend to stay here. I don't have much of an opinion on those who choose to leave the state. I'm committed to those who are here.

You are staying but a lot are leaving. Do you think there are things the state should be doing to retain or attract more people in tech?

I think that's probably outside of my responsibility.

California has a long history of innovation. Are you concerned about it losing its place?

No

Why not?

I think the state and the region have a lot going for it. I happen to live in the East Bay – not on the peninsula specifically – and it's been extraordinary to watch over the last decade how much more activity there is outside of the concentric circles that have historically been the seat of innovation. So while things are not slowing down on the peninsula nor in the city of San Francisco, there's even more capital being invested, more jobs being created in other regions – in L.A., in San Diego, here in the East Bay. So am I concerned now? No. If anything, I think we'll see the next decade be even faster growth in those regions.

I think most people probably love Google and they ask, "Why can't we just make Google run the DMV or run various state websites?" Is that something that you're going to be able to accomplish?

It's easy to fall in the trap of assuming that what any Silicon Valley company could build is exactly the right answer to what a state government needs to deliver, but I don't think it's the right way of thinking about what the state's obligation is. Do I want to bring approaches of how to design products, how to think about accelerating the pace at which we build? Absolutely. But I think it's also important to recognize that we're fundamentally in a different business. I mean, we're not in business at all.

What are the top three things that you want to do in this position?

I think the first couple of months is to learn what work the team has in progress. What are some of the successes we've done in the past that we want to build on? What I'm fascinated by is the scope of the work that's being done on fairly lean staff numbers and the impact across the state. That gets me excited because if we can continue to do that work, but do it faster, bring metrics to help us compare projects that don't have anything to do with each other, but can start to be things that we can evaluate on a relative basis, I think then I'll have I've done good for the team and we'll start to be able to show what the impact of that work is.

Has it been a culture shock after spending so long at Google to be in state government now?

Less than most people assume it would be. I keep thinking at some point somebody is going to tell me, "that's just not how things are done here," but there's been such an appetite to say, "look, if you've got a good idea, bring it because there's more than enough work to go around." Probably, the most exciting part of all of it is a number of people from tech who have reached out, wanting to know if I'm hiring. I think I will be and I don't think tech has all the answers. I think there will be people inside of government who would be appropriate for some of the roles.

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💘Zeitview’s New Valentine : Catching Methane Leaks

🔦 Spotlight

Hello Los Angeles, happy Friday and happy Valentine’s Day weekend.

While the rest of us are debating flowers vs. gifts vs. reservations, LA’s infrastructure nerds are out here celebrating a different kind of romance: finding leaks before they ghost your entire operation.

Zeitview just made methane a first-class feature

Zeitview has acquired Insight M, folding high-frequency aerial methane detection into its broader “see it, measure it, fix it” play for critical infrastructure. The combined offering pairs methane monitoring with Zeitview’s predictive asset-health and inspection workflows, so operators can spot emissions faster, prioritize repairs, and tie results back to ROI instead of vibes.

What Zeitview actually does, beyond the buzzwords

If you haven’t been tracking them, Zeitview is essentially the operating layer for inspecting big, physical assets using drones, aircraft, and computer vision. They can analyze imagery you already have or capture fresh data, then turn it into inspection reports and analytics through their Asset Insights platform.

Zeitview was previously known as DroneBase and rebranded after raising an expansion round, signaling a broader push beyond “drones” into enterprise-grade infrastructure intelligence across energy and other asset-heavy industries.

Why Insight M fits, and why this isn’t just “climate tech”

Methane is the rare climate problem that also hits the P&L, because a leak is both emissions and lost product. Insight M has built credibility around methane monitoring that’s meant to be operational, not just observational, and that plugs neatly into Zeitview’s inspection footprint.

Put together, this looks less like a single acquisition and more like a workflow upgrade: one system that finds a problem, quantifies it, routes it to the right team, and proves it was fixed. The least romantic Valentine’s message of all, maybe, but also the most adult: “I noticed something small, and I handled it before it became expensive.”

Keep scrolling for the latest LA venture rounds, fund news and acquisitions.

🤝 Venture Deals

      LA Companies


      • HAWKs (Hiking Adventures With Kids), a nature-based children’s enrichment brand founded in Los Angeles, secured a strategic investment from Post Investment Group to accelerate its nationwide franchise expansion. The company plans to scale its mobile, outdoor-program model (after-school adventures, camps, and weekend sessions) by opening franchise territories across the U.S. while using Post’s franchising platform to build the operational infrastructure and support system for new operators. - learn more

                  LA Venture Funds

                  • Allomer Capital Group participated in TRUCE Software’s newly closed Series B, a round led by Yttrium with additional backing from New Amsterdam Growth Capital. The company did not disclose the amount, but says it will use the funding to scale go-to-market for two mobile-first product suites: an AI video telematics platform for commercial fleets that runs on standard smartphones, and TRUCE Family, a software approach to limiting student phone distractions in K–12 schools. - learn more
                  • Wonder Ventures participated in The Biological Computing Company’s $25M seed round, which was led by Primary Venture Partners alongside Builders VC, Refactor Capital, E1 Ventures, Proximity, and Tusk Ventures. The startup is commercializing “biological compute,” connecting living neurons to modern AI systems to make certain tasks dramatically more energy-efficient, and says its first product shows a 23x retained improvement in video model efficiency while also helping discover new AI architectures. - learn more
                  • Bonfire Ventures co-led Santé’s $7.6M seed round, with backing from Operator Collective, Y Combinator, and Veridical Ventures. Santé is building an AI- and fintech-driven operating system for wine and liquor retailers that brings POS, inventory, e-commerce, delivery orders, and invoice workflows into one platform to replace a lot of manual, fragmented processes. - learn more
                  • B Capital co-led Apptronik’s initial 2025 Series A and participated again in the company’s new $520M Series A extension, bringing the total Series A to $935M+ (nearly $1B raised overall). The company says it will use the fresh capital to ramp production and deployments of its Apollo humanoid robots and invest in facilities for robot training and data collection, with the extension also bringing in new backers like AT&T Ventures, John Deere, and Qatar Investment Authority alongside repeat investors including Google and Mercedes-Benz. - learn more
                  • WndrCo participated in Inertia Enterprises’s new $450M Series A, a round led by Bessemer Venture Partners with additional investors including GV, Modern Capital, and Threshold Ventures. The company says it will use the milestone-based financing to commercialize laser-based fusion built on physics proven at the National Ignition Facility at Lawrence Livermore National Laboratory, including building its “Thunderwall” high-power laser system and scaling a production line to mass-manufacture fusion fuel targets. - learn more
                  • Riot Ventures participated as a returning investor in Integrate’s $17M Series A, which was led by FPV Ventures with participation from Fuse VC and Rsquared VC. Integrate is pitching an ultra-secure project management platform built for classified, multi-organization programs, and says it has become a requirement for certain U.S. Space Force launch efforts. The company plans to use the new funding to ship additional capabilities for government customers and scale go-to-market across the defense tech sector. - learn more
                  • MANTIS Ventures participated in Project Omega’s $12M oversubscribed seed round, which was led by Starship Ventures alongside Buckley Ventures, Decisive Point, Slow Ventures, and others. Project Omega is emerging from stealth to build an end-to-end nuclear fuel recycling capability in the U.S., aiming to turn spent nuclear fuel into long-duration power sources and critical materials, with early lab demonstrations underway and an ARPA-E partnership to validate a commercially viable recycling pathway. - learn more
                  • Plus Capital participated in Garner Health’s $118M round, which was led by Khosla Ventures with additional backing from Founders Fund and existing investors including Maverick Ventures and Thrive Capital, valuing the company at $1.35B. Garner says it helps employers steer members to high-quality doctors using its “Smart Match” provider recommendations and a reimbursement-style incentive called “Garner Rewards,” and it will use the funding to expand its offerings, grow its care team, and scale partnerships with payers and health systems. - learn more
                  • Emerging Ventures co-led Taiv’s $13M Series A+ alongside IDC Ventures, with continued support from investors including Y Combinator and Garage Capital. Taiv says it will use the funding to scale its “Business TV” platform, which uses AI to detect and swap TV commercials in venues like bars and restaurants with more relevant ads and on-screen content, as it expands across major North American markets. - learn more

                            LA Exits

                            • Mattel163 is being acquired by Mattel, which is buying out NetEase’s remaining 50% stake and valuing the mobile games studio at $318M. The deal gives Mattel full ownership and control of the team behind its IP driven mobile titles, strengthening its in-house publishing and user acquisition capabilities as it expands its digital games business. - learn more
                            • DJ Mex Corp. is set to be acquired in part by Marwynn Holdings, which signed a non-binding letter of intent to purchase a 51% stake in the U.S.-based e-waste sourcing and logistics company. The deal would bring DJ Mex into Marwynn’s EcoLoopX platform to expand its asset-light “reverse supply chain” services for recyclable materials, though it’s still subject to due diligence and final agreements. - learn more

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                                                    Skyryse Raised $300M+ to Do What Most Startups Can’t

                                                    🔦 Spotlight

                                                    Hello Los Angeles

                                                    LA just minted another aviation unicorn, and it is not because someone built a prettier helicopter demo. It's because Skyryse is trying to do the rarest thing in tech: turn software into something regulators will sign their name to, and that pilots will trust when conditions are at their worst.

                                                    El Segundo’s newest unicorn is simplifying the cockpit

                                                    Skyryse raised $300M+ in a Series C at a $1.15B valuation. The round was led by Autopilot Ventures and returning investor Fidelity Management & Research Company, with participation from Qatar Investment Authority, ArrowMark Partners, Atreides, BAM Elevate, Baron Capital Group, Durable Capital Partners, Positive Sum, Rokos (RCM Private Markets Fund), and Woodline Partners, among others.

                                                    Image Source: Skyryse

                                                    The pitch is bold and deceptively simple. Skyryse is building a “universal operating system for flight,” SkyOS, designed to replace the cockpit’s maze of mechanical controls with a computer-driven system that makes routine flight easier and emergency situations more manageable. The bigger claim is standardization: if you can make the interface and controls feel consistent across aircraft, you reduce training friction, lower pilot workload, and create fewer opportunities for human error when the stakes spike.

                                                    The real work starts after the press release

                                                    Skyryse says the funding will be used to accelerate FAA certification and scale SkyOS across additional aircraft platforms, including the Black Hawk. That is the hard part, and also the part most startups never reach. Aviation is where software has to prove itself in edge cases, repeatedly, with zero tolerance for surprises, because “mostly works” is another way of saying “eventually fails.”

                                                    The bet hiding inside the headlines

                                                    If Skyryse clears certification and can port SkyOS across aircraft types the way software ports across devices, it could unlock a new category of safety automation for fleets that cannot afford downtime, confusion, or long training cycles. Emergency response, defense modernization, and industrial aviation are all markets where reliability is the product, and simplicity is the differentiator. In a world obsessed with shipping faster, Skyryse is playing a different game: getting permission to ship at all.

                                                    Keep scrolling for the latest LA venture rounds, fund news and acquisitions.

                                                    🤝 Venture Deals

                                                        LA Companies

                                                        • Accrual announced it has raised $75M in new funding led by General Catalyst, with participation from Go Global Ventures, Pruven Capital, Edward Jones Ventures, and a group of founders and industry executives. The company says the raise supports its official launch and continued buildout, alongside early partner firms, investors, and advisors. - learn more
                                                        • Morpheus Space secured a $15M strategic investment led by Alpine Space Ventures and the European Investment Fund, with continued support from existing investors, to fuel its next phase of growth. The company says it will use the capital to expand mass-production capacity and its team at its Dresden “Reloaded” facility, helping industrialize its GO-2 electric propulsion systems and meet rising demand from large satellite constellations. - learn more
                                                        • Machina Labs raised a $124M Series C to build its first large-scale “Intelligent Factory,” a U.S.-based production site aimed at rapidly manufacturing complex metal structures for defense, aerospace, and advanced mobility. The company says the funding, backed by investors including Woven Capital, Lockheed Martin Ventures, Balerion Space Ventures, and Strategic Development Fund, will help it scale its AI-and-robotics “software-defined” manufacturing approach from breakthrough tech into high-throughput production infrastructure. - learn more
                                                        • Midi Health raised a $100M Series D led by Goodwater Capital, with new investors Foresite Capital and Serena Ventures joining and existing backers including GV, Emerson Collective, and others returning, valuing the company at over $1B. The women’s telehealth provider says it will use the funding to scale beyond menopause care into a broader, AI-enabled women’s health platform, expanding access and using AI to personalize care and streamline clinical operations. - learn more
                                                        • Mitra EV raised $27M in financing, combining equity led by Ultra Capital with a credit facility from S2G Investments, to expand its “no upfront capital” fleet electrification model. The Los Angeles-based company says it will use the money to grow its shared charging network, roll out additional fleet solutions, and expand into new markets, positioning itself as a fully managed package that bundles EV leasing, overnight charging, and access to shared fast-charging hubs. - learn more
                                                        • Plug raised a $20M Series A to scale its EV-first marketplace, following $60M in used EV sales since launching in 2024. The round was led by Lightspeed with participation from Galvanize and existing investors including Autotech Ventures, Leap Forward Ventures, and Renn Global, as Plug positions itself as infrastructure for the coming wave of off-lease EV inventory with EV-native pricing, battery health insights, and faster dealer transactions. - learn more
                                                        • Breezy, a Los Angeles-based AI operating system for residential real estate professionals, raised an oversubscribed $10M pre-seed round led by Ribbit Capital, with participation from Fifth Wall, DST Global, Liquid 2 Ventures, O.G. Venture Partners, and others. The company says it will use the funding to strengthen its product and data platform, grow engineering and design, invest in security, and prepare for broader U.S. and international rollout. - learn more

                                                                  LA Venture Funds

                                                                  • Upfront Ventures participated in Daytona’s $24M Series A, a round led by FirstMark Capital with participation from Pace Capital and existing investors E2VC and Darkmode, plus strategic checks from Datadog and Figma Ventures. Daytona is building “composable computers” for AI agents, essentially programmatic, stateful sandboxes that can be spun up, paused, and snapshotted on demand so agents can safely run code and explore many paths in parallel at scale. - learn more
                                                                  • Second Sight Ventures participated in Willie’s Remedy+’s $15M Series A, a round led by Left Lane Capital to fuel national retail expansion and continued product development for its hemp-derived THC beverages positioned as an alcohol alternative. The company says it has already sold 400,000+ bottles in under a year and claims the top spot for online THC beverage sales as it gears up for broader distribution in 2026. - learn more
                                                                  • Navitas Capital led Cadastral’s $9.5M funding round, with participation from JLL Spark Global Ventures, AvalonBay, Equity Residential, and 1Sharpe. Cadastral says it will use the capital to accelerate product development and expand go-to-market for its vertical AI platform, positioning the product as an “AI analyst in a box” that automates core commercial real estate workflows like underwriting and due diligence. - learn more
                                                                  • B Capital participated in Lunar Energy’s $232M raise, which the company disclosed as two rounds: a $102M Series D led by B Capital and Prelude Ventures, and a previously unannounced $130M Series C led by Activate Capital. The startup says it will use the capital to rapidly scale home-battery manufacturing and deployments, turning those distributed systems into a grid-supporting virtual power plant as electricity demand surges. - learn more
                                                                  • B Capital participated in Goodfire’s $150M Series B at a $1.25B valuation, a round that also included investors like Juniper Ventures, DFJ Growth, Salesforce Ventures, Menlo Ventures, Lightspeed, South Park Commons, Wing, and Eric Schmidt. Goodfire says it will use the funding to scale its interpretability-driven “model design environment,” aimed at helping teams understand, debug, and deliberately shape how AI models behave in high-stakes settings. - learn more
                                                                  • Helena participated in Positron AI’s oversubscribed $230M Series B at a post-money valuation above $1B, alongside strategic investors including Qatar Investment Authority and Arm. The round was co-led by ARENA Private Wealth, Jump Trading, and Unless, and the company says it will use the capital to scale energy-efficient AI inference now and accelerate its next-generation “Asimov” silicon roadmap. - learn more
                                                                  • Smash Capital participated in ElevenLabs’ $500M Series D, which values the company at $11B as it scales its voice and conversational AI products for enterprise use. The round was led by Sequoia Capital with support from existing backers like Andreessen Horowitz and ICONIQ Capital, plus additional participation including Lightspeed Venture Partners. - learn more
                                                                  • MTech Capital participated in Pasito’s $21M Series A, a round led by Insight Partners with additional participation from Y Combinator. Pasito says it’s building an AI-native workspace for group health, life, and retirement benefits that turns messy, unstructured plan and census data into a unified layer so carriers and brokers can automate workflows end-to-end, from quoting and enrollment to support and claims. - learn more
                                                                  • Rebel Fund participated in Ruvo’s $4.6M seed round, led by 1confirmation with participation from Coinbase Ventures and others, as the Y Combinator-backed fintech expands its cross-border payments infrastructure between Brazil and the U.S. Ruvo says it operates like a U.S. dollar account for Brazilians, combining Pix, stablecoins, ACH/wire transfers, and a Visa card in one app to speed up remittances by reducing intermediaries. - learn more
                                                                  • Rainfall Ventures participated in a seed funding round for Deft Robotics alongside Spring Camp, backing the company’s push to build AI-driven automation tools for manufacturers. The round amount wasn’t disclosed in the announcement, but the funding is positioned to help Deft scale product development and customer deployments in industrial settings. - learn more
                                                                  • Trousdale Ventures participated in CesiumAstro’s Series C by leading the $270M equity portion of a $470M total growth-capital raise, alongside investors including Woven Capital, Janus Henderson Investors, and Airbus Ventures. CesiumAstro says the broader financing also includes $200M from Export-Import Bank of the United States and J.P. Morgan, and will fund a major U.S. scale-up including a new 270,000-square-foot HQ and expanded manufacturing to accelerate deployment of its software-defined, AI-enabled space communications platforms. - learn more
                                                                  • Mucker Capital participated in Linq’s $20M Series A, which was led by TQ Ventures to help the company become infrastructure for AI assistants that run directly inside messaging apps. Linq’s platform lets developers and businesses deploy assistants through channels like iMessage, RCS, and SMS, and the company says the funding will go toward expanding the team, building a go-to-market motion, and continuing to develop the product. - learn more
                                                                  • Sound Ventures participated in Day AI’s $20M Series A, which was led by Sequoia Capital with additional participation from Greenoaks, Conviction, and Permanent Capital. Day AI says the funding will help scale its AI-native CRM platform and support its move into general availability, positioning “CRMx” as a faster, context-driven alternative to legacy systems that turn simple questions into slow projects. - learn more
                                                                  • Chaac Ventures participated in Arbor’s $6.3M seed round, which was led by 645 Ventures with additional backing from Next Play Ventures, Comma Capital, and angel investors. Arbor is building an AI interview and research platform that captures frontline employee and customer conversations and turns that qualitative “ground truth” into structured operational intelligence leaders can act on quickly, without slow surveys or pricey consultants. - learn more
                                                                  • B Capital participated in When’s $10.2M Series A, a round co-led by ManchesterStory and 7wire, with new investor Mairs & Power Venture Capital and returning backers Enfield Capital Partners, TTV Capital, and Alumni Ventures. When says it helps employers and departing or transitioning employees navigate health coverage changes by steering people to more affordable alternatives to COBRA through an AI-powered marketplace and targeted reimbursements, with the new capital going toward team growth and expanding into more transition scenarios like Medicare eligibility and early retirements. - learn more

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                                                                                          $100M and a Space Force Deal: Northwood’s One-Two Punch

                                                                                          🔦 Spotlight

                                                                                          Hello Los Angeles

                                                                                          The most underrated part of the space boom isn’t what gets launched, it’s what happens after. A satellite can be flawless in orbit and still be functionally useless if you can’t talk to it fast, often, and reliably, especially when something breaks.

                                                                                          Torrance is proving the next space race is won on the ground

                                                                                          Northwood Space, operating out of a 35,000-square-foot facility in Torrance, just landed a rare one-two punch: a $100M Series B and a roughly $49.8M U.S. Space Force contract tied to upgrades for the Satellite Control Network, the system that supports launches, early operations, tracking and control, and emergency support when satellites go sideways. The Series B was led by Washington Harbour Partners, co-led by Andreessen Horowitz, and included participation from Alpine Space Ventures, Founders Fund, StepStone, Balerion, Fulcrum, Pax, 137 Ventures, and others.

                                                                                          Image Source: Northwood Space

                                                                                          What’s intriguing here isn’t just the dollars, it’s the thesis. Northwood is arguing that the next wave of space companies won’t be constrained by rockets, but by operations and connectivity, meaning the ground layer becomes the strategic choke point. Their approach combines vertically integrated ground infrastructure with phased-array systems (“Portal”) that can steer multiple beams electronically and support missions across LEO, MEO, and GEO, aiming to make ground access feel less like bespoke aerospace procurement and more like scalable infrastructure.

                                                                                          Why this matters right now

                                                                                          In a market where “space” headlines often center on what’s above the atmosphere, this week’s signal is that the decisive advantage may live down here. If Northwood can make satellite communications more frequent, more flexible, and easier to scale, it doesn’t just help one mission, it changes the economics of operating entire fleets.

                                                                                          Scroll on for the latest LA venture rounds, fund news and acquisitions.

                                                                                          🤝 Venture Deals

                                                                                              LA Companies


                                                                                              • Origin, a pelvic floor physical therapy and women’s musculoskeletal care provider, raised a Series B led by SJF Ventures with participation from Blue Venture Fund and Gratitude Railroad, plus financing from California’s IBank and several angel investors. The company says it will use the funding to expand access to its hybrid model of in-person clinics and nationwide virtual care, and to invest in AI-enabled clinical tools, clinician training through Origin University, and additional clinical research. - learn more
                                                                                              • OpenDrives announced new funding led by IAG Capital Partners to support growth of its software platform for video data management used by media, sports, and enterprise teams. Alongside the investment, the company named longtime COO Trevor Morgan as CEO as it continues shifting from a hardware-first business to a software-focused platform. - learn more

                                                                                                        LA Venture Funds

                                                                                                        • MANTIS Venture Capital participated in Rogo’s $75M Series C, a round led by Sequoia that values the AI “agent” platform at about $750M. The company says it will use the new funding to scale its AI system for investment-banking workflows and accelerate its European expansion, including opening its first international office in London. - learn more
                                                                                                        • B Capital led PaleBlueDot AI’s $150M Series B, pushing the AI compute platform’s valuation to over $1B. The company says it will use the funding to deepen its core tech and platform engineering, expand go-to-market, and scale across North America and Asia to meet rising enterprise demand for cost-efficient AI infrastructure. - learn more
                                                                                                        • Rebel Fund participated in Modelence’s seed round, which raised $3M and was led by Y Combinator alongside other investors. Modelence is building an all-in-one TypeScript toolkit that bundles essentials like auth, databases, hosting, and LLM observability to reduce the “stitching things together” headaches that come with vibe-coding and modern app infrastructure. - learn more
                                                                                                        • Alexandria Venture Investments participated in TRexBio’s oversubscribed $50M financing alongside several new investors and existing backers. The company says it will use the funds to advance TRB-061, its TNFR2 agonist designed to selectively activate regulatory T cells, in an ongoing Phase 1a/b study for atopic dermatitis, and to move preclinical programs TRB-071 and TRB-081 toward the clinic. - learn more
                                                                                                        • Bonfire Ventures led Risotto’s $10M seed round to help the startup bring AI into help desk workflows and make ticketing systems easier to use. Risotto aims to autonomously resolve support tickets by sitting between tools like Jira and a company’s internal systems, using an AI layer designed to keep model outputs reliable and controlled. - learn more
                                                                                                        • Calibrate Ventures participated as a returning investor in Grid Aero’s $20M Series A, which was co-led by Bison Ventures and Geodesic Capital. The aerospace and defense startup says it will use the funding to move its Lifter Lite autonomous aircraft from testing into operational deployments, supporting major exercises and early customer use cases as it scales long-range, low-cost autonomous airlift for contested environments. - learn more

                                                                                                                LA Exits

                                                                                                                • Bridg is being acquired by PAR Technology (from Cardlytics) in a deal valued at $27.5M in PAR stock, with the price potentially adjusting up to $30M, and it’s expected to close in Q1 2026. PAR plans to integrate Bridg’s identity-resolution capabilities so restaurants and retailers can unify loyalty and non-loyalty purchase data, recognize previously anonymous customers, and run and measure marketing more effectively. - learn more
                                                                                                                • Assembly, an employee recognition and rewards platform founded in 2018 and used by 500+ organizations, is being acquired by talent-management provider Quantum Workplace. The deal adds built-in rewards to Quantum Workplace’s suite and is intended to connect recognition data with engagement, performance, development, and retention insights so leaders can better spot impact, reinforce values, and invest in keeping top talent. - learn more

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