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Relativity Space targets more funding, Marvel Snap developer secures $100M

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
gaming
los angeles tech news

🚀 Inversion Secures $44 Million to Pioneer On-Demand Delivery from Space

🔦 Spotlight

Happy Friday, LA!

This week, Southern California's thriving space tech scene celebrated another milestone as Inversion, an El Segundo-based startup, announced a $44 million Series A funding round. The investment, co-led by Spark Capital and Adjacent, with participation from Kindred Ventures, Lockheed Martin Ventures and Y Combinator, underscores the growing appetite for innovative solutions in aerospace, logistics, and beyond. To date, they’ve raised $54 million, including a $10 million seed round in 2021. In September, they also secured a $71 million STRATFI agreement with the Space Force’s SpaceWERX to develop reentry vehicles for military applications, funded through a mix of government and private investment.

Image Source: Inversion

Inversion is pioneering a new frontier: reusable vehicles capable of rapidly returning payloads from orbit to Earth. Their "Earth Return Capsules" are designed to deliver within as little as an hour, enabling everything from rapid-turnaround experiments in microgravity to the delivery of critical medical supplies across the globe.

Building on this vision, a key focus for Inversion, as noted by SpaceNews, is the development of Arc, a reentry vehicle designed to provide "precision delivery on-demand" from space to Earth. With its first flight planned for 2026, the company is using the Series A funding to move Arc through its full product cycle, including design and development. This funding will also support Inversion's growth from its current 25 employees to a team of around 70, as well as their move into a new facility. Co-founder and CEO Justin Fiaschetti emphasized that the funding is sufficient to bring Arc through its inaugural flight.

Adding to the excitement, Inversion recently achieved a critical regulatory milestone in October by receiving a re-entry license from the Federal Aviation Administration (FAA). This license is a pivotal step in their journey, allowing the company to safely and legally return payloads from orbit to Earth. It positions Inversion among a select group of companies capable of operating in this emerging sector and demonstrates their readiness to bring the concept of space-based logistics into reality.

This isn’t just a win for Inversion—it’s a win for the Los Angeles aerospace ecosystem, which continues to attract top-tier talent and funding. With giants like SpaceX and Relativity Space already calling the region home, Inversion is further cementing LA’s status as the nation’s space tech hub.

As Southern California continues to lead the way in space innovation, Inversion is one to watch. Their vision for merging cutting-edge aerospace technology with real-world logistics solutions may not just change how we view space—it might transform how we interact with it.

Stay tuned for more updates from LA’s tech and startup scene. For now, keep your eyes on the skies—Inversion is bringing them closer to Earth.


🤝 Venture Deals

LA Companies

  • Seen Health, a company enhancing healthcare for seniors, has raised a $22M Series A funding round led by 8VC to support the opening of its first center in California and drive the development of the company’s technology. - learn more
LA Venture Funds
  • Theory Forge Ventures participated in a $30M Seed funding round for San Francisco-based Wordware, a startup developing a full-stack operating system for AI development that enables users to create sophisticated AI agents using natural language; the funds will be used to expand their platform and accelerate growth. - learn more
  • Clocktower Ventures participated in the most recent funding round for OpenYield, a New York-based company revolutionizing bond trading with its automated, equity-like marketplace, bringing the company's total funding to $7M to date. - learn more
  • Bonfire Ventures led a $4.25M Seed funding round for KeySavvy, a Seattle-based platform that simplifies and secures private-party car transactions; the funds will be used to expand their operations and engineering team, support new partnerships, enhance platform automation, and launch a fast-financing product for buyers. - learn more
  • Aliment Capital led a $42M Series C funding round for OneRail, an Orlando-based company specializing in last-mile delivery logistics software; the funds will be used to enhance their platform's capabilities and expand market reach. - learn more
  • UP.Partners led a $7M second-extension Series A funding round for Teleo, a Palo Alto-based company specializing in autonomous construction equipment; the funds will be used to expand their product offerings and accelerate market adoption. - learn more
  • Alexandria Venture Investments participated in a $30M Seed funding round for Valora Therapeutics, a San Diego-based biotechnology company developing novel immunotherapies using their proprietary AbLec platform; the funds will be used to advance their research and development efforts, optimize the platform, and progress AbLec therapeutics toward clinical trials. - learn more
  • Progression Fund participated in a $1.5M Pre-Seed funding round for GetMyHome, a Redondo Beach-based real estate service provider that offers a full rebate of seller-paid agent commission fees, charging clients a flat fee for the services they need, and employs agents who receive flat-fee compensation to help clients secure their dream homes without the incentive to push for overbidding. - learn more
  • Hyperlink Ventures participated in a $33M Series B funding round for Selector, a Santa Clara-based company specializing in AI-driven solutions that provide comprehensive visibility and intelligence for complex networks, infrastructure, and applications; the funds will be used to accelerate the development of their AIOps, Large Language Model (LLM), and Digital Twin technologies, as well as to expand their global presence. - learn more
  • Bonfire Ventures and Impulsum Venture Colab participated in a $5.25M Seed funding round for CalmWave, a Seattle-based health-tech startup specializing in reducing non-actionable ICU alarms to alleviate clinician fatigue; the funds will be used to boost market growth and expand partnerships with GPO channels like Premier, Inc. and Partners Coop. - learn more
  • Wavemaker 360 participated in a $14.5M Seed funding round for Citizen Health, a San Mateo, CA-based company with an AI-powered consumer health platform designed to support individuals managing rare and complex conditions; the funds will be used to enhance their platform and advance research in rare disease drug development. - learn more
  • B Capital led a $25M Series A funding round for Synapticure, a Chicago-based virtual care company specializing in neurodegenerative diseases; the funds will be used to expand partnerships, invest in technology, accelerate clinical research, and scale their medical group to enhance care for patients and caregivers nationwide. - learn more
  • Amboy Street Ventures and Emmeline Ventures participated in a $16M Series A funding round for Alloy, a New York-based menopause care startup that offers personalized treatments, including hormone therapy and symptom management, through telemedicine consultations and home delivery of medications. - learn more
  • Morpheus Ventures participated in a $28M Series A funding round for Goodstack, a SaaS and fintech platform that helps businesses integrate charitable giving, and the funds will be used to expand services for corporates, build technology for nonprofits, and hire across the team in 2025. - learn more
  • Trousdale Ventures participated in a Series B funding round for Anello Photonics, a Santa Clara, CA-based company specializing in silicon photonic optical gyroscopes (SiPhOG™); the funds will be used to improve navigation and positioning in GPS-denied environments for industrial and defense uses. - learn more
  • Cultivate Next participated in a $30M Series B funding round for Plantible Foods, a San Diego-based biotechnology company that creates sustainable, plant-based protein ingredients, starting with Rubi Protein™ from the aquatic plant Lemna, will use its investment to expand manufacturing at its first commercial plant, "The Ranchito," a 100-acre facility in West Texas. - learn more
  • Bonfire Ventures led a $4M Seed funding round for Mithrl, a San Francisco-based company providing an AI-powered platform to accelerate scientific research; the funds will be used to expand their go-to-market team and further develop the platform. - learn more
  • Upfront Ventures led a $15M Seed funding round for BrightAI, a San Francisco-based company specializing in AI-powered sensor technology for real-time monitoring across various industries; the funds will be used to enhance their technology and meet growing customer demand. - learn more

      LA Exits

      • Brainjolt, a Pasadena-based digital media company that creates and curates engaging content across various platforms and reaches millions of users monthly, has been acquired by Centerfield. - learn more

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              🌐Decentralizing Data & Vacations: Sony's Web3 Leap and Sensible Weather's KOA Partnership

              🔦 Spotlight

              Happy Long Weekend Los Angeles!

              Sony Group is making a significant push into the blockchain and Web3 space, leveraging its Sony Pictures and Sony Music divisions along with a new global incubator. The company has developed the Soneium blockchain through Sony Block Solutions Labs, a joint venture aimed at accelerating Web3 innovation. Sony is launching the "Soneium Minato" public testnet and a developer incubation program called "Soneium Spark" to foster ecosystem growth and adoption. The initiative includes strategic partnerships with Web3 companies such as Astar Network, Circle, and Optimism. Sony aims to create a fan community centered on creators and connect diverse values through Soneium, with the ultimate goal of integrating Web3 services into people's daily lives. While the company acknowledges the challenges faced by Web3, including limited user adoption and the need for mainstream use cases, it remains committed to decentralizing the concentrated power of the current internet landscape.

              In completely unrelated and more digestible news Sensible Weather, a leading weather protection provider that we’ve featured many times, has partnered with Kampgrounds of America (KOA) to offer Weather Guarantees at over 450 KOA Campgrounds across the United States. This collaboration allows campers to purchase weather protection for their outdoor experiences, providing peace of mind and potential reimbursements of up to 100% of their nightly rate if weather conditions exceed predefined parameters. The partnership comes at an opportune time, as camping has seen a significant increase in popularity, with active campers growing by 68% over the past decade. If you are looking to do some camping this fall make sure you look into Sensible Weather protections to ensure that unpredictable weather won't dampen (nailed it) your camping experience.


              🤝 Venture Deals

              LA Companies

              • Space and Time, a blockchain data warehouse developer, raised a $20M Series A led by Framework Ventures. - learn more
              • Miris, a provider of spatial content streaming solutions, raised a $26M Seed Round led by IAG Capital Partners. - learn more

              LA Venture Funds

              • Fika Ventures led a $4.55M Seed Round for Revenew, a San Francisco startup that aims to help digital platforms and marketplaces manage their payments and optimize financial operations. - learn more
              • Bonfire Ventures participated in a $25M Series A for Supio, an AI platform for personal injury law firms. - learn more
              • Amplify LA participated in a $2M Seed Round for Pryzm, a startup that provides tools and data to help businesses navigate government contracting more efficiently. - learn more

                ✨ Featured Event ✨

                LA TECH CEO SUMMIT

                LA’s tech leadership is set to reunite after a long break! This two day summit will focus on building strong connections, sharing insights, and fortifying the local tech community.

                Learn More Here

                Register Here


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