NEWSLETTER
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gaming

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

🛰️💥 Apex Space and LA's Role in the Current Space Tech Boom

🔦 Spotlight

Mark Suster from Santa Monica-based Upfront Ventures recently interviewed the CEO and co-founder of LA-based Apex, Ian Cinnamon. The conversation shed light on Apex, a standout player in the Los Angeles space tech scene. Apex specializes in manufacturing satellite buses for space missions.

The discussion touched on the expanding space tech industry, emphasizing its increasing allure to investors and entrepreneurs. Los Angeles emerged as a focal point in this narrative, with its rich ecosystem of talent and resources playing a pivotal role. Cinnamon goes on to cite its concentration of top-notch universities, such as UCLA, Caltech and USC, as well as renowned institutions like SpaceX and JPL. This clustering of expertise and innovation has propelled Los Angeles to the forefront of the space tech revolution, fostering a dynamic environment for companies like Apex to thrive.

Moreover, the conversation underscored the transformative impact of companies like SpaceX and Rocket Lab, both based in Los Angeles, in reshaping the space industry's cost dynamics. The reduction in launch costs and increased launch frequency have significantly lowered barriers to entry, enabling startups like Apex to achieve remarkable feats in a fraction of the time and budget previously estimated. Cinnamon's account of launching a satellite within 12 months and under $10 million, compared to the historical norms of three years and $50 million, epitomizes the disruptive potential of these advancements, with Los Angeles serving as a fertile ground for such innovation.

Looking ahead, the dialogue explored the future prospects of space exploration, including ventures like lunar orbits and asteroid mining. Los Angeles, with its vibrant tech scene and burgeoning interest in hard tech and space endeavors, is poised to play a pivotal role in these future ventures. With companies like Apex at the helm, Los Angeles is positioned to continue driving innovation and pushing the boundaries of what's possible in the realm of space technology.

Check out the full interview here.

🤝 Venture Deals

LA Companies

  • Steno, a provider of legal support and court reporting service, raised a $46M Funding Round led by Left Lane Capital. - learn more
  • Neros, an autonomous military drone developer, raised a $10.9M Seed Round from Sequoia Capital. - learn more
  • Kudos, a startup that offers an AI-powered smart wallet service that helps users optimize their credit card rewards and benefits when making purchases, raised a $10.2M Series A led by QED Investors, with Patron, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, and the Four Cities Fund contributing. - learn more
  • Infinitform, an AI software for manufacturing, raised a $2.25M Seed Round led by Schematic Ventures. - learn more
  • Farcaster, a startup that is building a decentralized social media platform that uses blockchain technology to give users ownership of their data and identity, raised a $150M Funding Round led by Paradigm, with Andreessen Horowitz, Haun Ventures, Union Square Ventures, Variant, and Standard Crypto contributing. - learn more
  • Superpower, a personal health optimization startup, raised a $4M Seed Round from Susa Ventures and Long Journey Ventures. - learn more
  • Harbinger, an electric truck maker, raised a $13M Funding Round from Coca-Cola's sustainability fund. - learn more

LA Venture Funds

LA Exits

  • Wonder Dynamics, a startup that helps creators create complex VFX characters and visual effects using AI, was bought by Autodesk. - learn more
tech news

Top LA Accelerators that Entrepreneurs Should Know About

Los Angeles, has a thriving startup ecosystem with numerous accelerators, incubators, and programs designed to support and nurture new businesses. These programs provide a range of services, including funding, mentorship, workspace, networking opportunities, and strategic guidance to help entrepreneurs develop their ideas and scale their companies.


Techstars Los Angeles

Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of LA.

Location: Culver City

Type of Funding: Pre-seed, early stage

Focus: Industry Agnostic

Notable Past Companies: StokedPlastic, Zeno Power


Grid110

Grid110 offers no-cost, no-equity programs for entrepreneurs in Los Angeles, including a 12-week Residency accelerator for early-stage startups, an Idea to Launch Bootcamp for pre-launch entrepreneurs, and specialized programs like the PledgeLA Founders Fund and Friends & Family program, all aimed at providing essential skills, resources, and support to help founders develop and grow their businesses.

Location: DTLA

Type of Funding: Seed, early stage

Focus: Industry Agnostic

Notable Past Companies: Casetify, Flavors From Afar


Idealab

Idealab is a renowned startup studio and incubator based in Pasadena, California. Founded in 1996 by entrepreneur Bill Gross, Idealab has a long history of nurturing innovative technology companies, with over 150 startups launched and 45 successful IPOs and acquisitions, including notable successes like Coinbase and Tenor.

Location: Pasadena

Type of Funding: Stage agnostic

Focus: Industry Agnostic, AI/Robotics, Consumer, Clean Energy

Notable Past Companies: Lumin, Coinbase, Tenor


Plug In South LA

Plug In South LA is a tech accelerator program focused on supporting and empowering Black and Latinx entrepreneurs in the Los Angeles area. The 12-week intensive program provides early-stage founders with mentorship, workshops, strategic guidance, potential pilot partnerships, grant funding, and networking opportunities to help them scale their businesses and secure investment.

Location: Los Angeles

Type of Funding: Pre-seed, seed

Focus: Industry Agnostic, Connection to South LA and related communities

Notable Past Companies: ChargerHelp, Peadbo


Cedars-Sinai Accelerator

The Cedars-Sinai Accelerator is a three-month program based in Los Angeles that provides healthcare startups with $100,000 in funding, mentorship from over 300 leading clinicians and executives, and access to Cedars-Sinai's clinical expertise and resources. The program aims to transform healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market, offering participants dedicated office space, exposure to a broad network of healthcare entrepreneurs and investors, and the opportunity to pitch their companies at a Demo Day.

Location: West Hollywood

Type of Funding: Seed, early stage, convertible note

Focus: Healthcare, Device, Life Sciences

Notable Past Companies: Regard, Hawthorne Effect


MedTech Innovator

MedTech Innovator is the world's largest accelerator for medical technology companies, based in Los Angeles, offering a four-month program that provides selected startups with unparalleled access to industry leaders, investors, and resources without taking equity. The accelerator culminates in showcase events and competitions where participating companies can win substantial non-dilutive funding, with the program having a strong track record of helping startups secure FDA approvals and significant follow-on funding.

Location: Westwood

Type of Funding: Seed, early stage

Focus: Health Care, Health Diagnostics, Medical Device

Notable Past Companies: Zeto, Genetesis


KidsX

The KidsX Accelerator in Los Angeles is a 10-week program that supports early-stage digital health companies focused on pediatric care, providing mentorship, resources, and access to a network of children's hospitals to help startups validate product-market fit and scale their solutions. The accelerator uses a reverse pitch model, where participating hospitals identify focus areas and work closely with selected startups to develop and pilot digital health solutions that address specific pediatric needs.

Location: East Hollywood

Type of Funding: Pre-seed, seed, early stage

Focus: Pediatric Health Care Innovation

Notable Past Companies: Smileyscope, Zocalo Health


Disney Accelerator

Disney Accelerator is a startup accelerator that provides early-stage companies in the consumer media, entertainment and technology sectors with mentorship, guidance, and investment from Disney executives. The program, now in its 10th year, aims to foster collaborations and partnerships between innovative technology companies and The Walt Disney Company to help them accelerate their growth and bring new experiences to Disney audiences.

Location: Burbank

Type of Funding: Growth stage

Focus: Technology and entertainment

Notable Past Companies: Epic Games, BRIT + CO, CAMP


Techstars Space Accelerator

Techstars Space Accelerator is a startup accelerator program focused on advancing the next generation of space technology companies. The three-month mentorship-driven program brings together founders from across the globe to work on big ideas in aerospace, including rapid launch services, precision-based imaging, operating systems for complex robotics, in-space servicing, and thermal protection.

Location: Los Angeles

Type of Funding: Growth stage

Focus: Aerospace

Notable Past Companies: Pixxel, Morpheus Space



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