Get in the KNOW
on LA Startups & Tech
X
Courtesy of Mercedes-Benz/Bosch
Mercedes-Benz Offers a Glimpse Into a Future Where Your Car Parks Itself
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.
Sign up for dot.LA's daily newsletterfor the latest news on Southern California's tech, startup and venture capital scene.
Angelenos famously hate parking, but soon their cars may be able to park themselves thanks to a collaboration between Mercedes-Benz and German engineering firm Bosch.
At a demonstration in Downtown Los Angeles on Wednesday, Mercedes and Bosch gave the first U.S. test run showcasing the fruits of their collaboration: an electric Mercedes-Benz 2022 EQS 580 luxury sedan capable of navigating itself into a parking spot.
Painted in bright teal stripes, the sedan first let its driver out at a designated spot. Then, a tap of a Mercedes-Benz phone app locked the vehicle and sent it, at a gradual pace, to the first available parking space. Later, a ping from the app woke up the car—which turned itself on, pulled out of the parking spot and slowly made its way to the driver’s pickup point.
Painted in bright teal stripes, an electric Mercedes-Benz 2022 EQS 580 pulls into a parking spot with no driver.Courtesy of Mercedes-Benz/Bosch
A Bosch engineer stepped in front of the car several times as it was driving to demonstrate its safety features; if sensors detect a presence or any motion in front of the car, they’ll tell it to stop a safe distance away. (For extra security, a person walked alongside the car with an emergency shut-off button.)
Kay Stepper, Bosch’s senior vice president of automated driving for North America, noted that the self-parking technology relies on sensors and cameras built into its surrounding environment, which guide the car into its space. (The sensors are installed on the ground, while the cameras are mounted above.) He added that the technology could be applied to any type of car, so long as a manufacturer makes it compatible with its vehicle.
“The unique thing is really that we are not using any of the in-vehicle sensors—it’s a purely infrastructure-based solution,” Stepper told dot.LA.
The demo marked the first time that Mercedes and Bosch have tested the technology outside of Germany. In their home country, the driverless parking capability is already installed and ready to use at Stuttgart Airport pending final regulatory approval, according to Philipp Skogstad, Mercedes’ president and CEO of North American research and development.
A handful of other auto industry names are also investing in automated valets, including the Volkswagen Group-owned CARIAD, which demonstrated its technology at an industry summit in Munich last. Yet another competitor is Maryland-based STEER. Other companies focused on autonomous technology from more of a road-driving perspective are Google’s Waymo and, of course, Tesla.
Skogstad acknowledged the increasingly crowded playing field. “Automated driving is such a complex task requiring so many pieces to come together that nobody can do that alone,” he said. “No matter how much money you have, you need partners.”
A Bosch engineer tests the self-parking car’s pick-up options.Courtesy of Mercedes-Benz/Bosch
Stepper noted that Bosch is “intensely” focused on finding collaborators in the “smart infrastructure” space who can help it implement a driverless parking network. The next step, he added, is to convince local parking operators to invest in the technology. Without human error (consider that driver in your apartment building’s garage who’s always double-parked), he estimated that a fully-automated parking lot could fit up to 20% more cars.
And what about the valet workers—such as those on hand at the demo, who were kind enough to park cars for the event’s attendees the old-fashioned way? A Bosch spokesperson noted that they wouldn’t exactly be put out of business, as self-parking garages would still need humans to operate and maintain their technology and act as a safeguard.
From Your Site Articles
- Autonomous Vehicle Companies Doubled Their Testing Miles - dot.LA ›
- Motional Expands Its Autonomous Vehicle Operations in LA - dot.LA ›
Related Articles Around the Web
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.
https://twitter.com/samsonamore
samsonamore@dot.la
🔦 Spotlight
LA-based Popshop Live, a mobile live shopping marketplace was acquired this week by CommentSold, a Huntsville, Alabama-based live selling technology provider. Never heard of live shopping? Fear not, you are in good company. Less than a third of US adults have heard of live shopping. Prepare to be ahead of the curve. 🎥 🛍️ 💸
Live shopping combines real-time video streaming with e-commerce, enabling viewers to watch product presentations, interact with hosts, and make purchases instantly during the stream - similar to TV-based QVC but online or in an app.
Live shopping is growing quickly in the U.S., but it’s not nearly as popular here as it is in China, where it saw $514 billion in sales in 2022, representing 17% of all e-commerce sales. U.S. live shopping is expected to top $31B this year, representing less than 3% of the overall e-commerce market. Popshop Live was a beneficiary of investors’ hopes that live shopping would grow quickly here to match its penetration in China.
Prior to its acquisition, Popshop Live had raised $24.5 million, most recently at a $100m valuation, from A-list investors including Benchmark, M13, Progression Fund, and many others. Unfortunately for Popshop Live’s investors and team, the company struggled to manage cash in the tougher venture environment of 2022 and 2023, and it doesn’t seem likely the acquisition generated much in terms of financial rewards, though terms were not disclosed.
The good news for creators is that this merger creates a more comprehensive platform that combines CommentSold's SMB-focused e-commerce capabilities with Popshop Live's app-based marketplace and offers creators of all sizes access to a suite of features, including state-of-the-art live streaming software, dropshipping, inventory management, and an easy-to-onboard marketplace.
Popshop Live’s closest competitor, LA-based Whatnot, is the big fish in the U.S. live shopping market. Focused on collectibles like Funko Pop dolls and Pokemon cards, it has raised $485 million from investors like CapitalG, DST Global, Andreessen Horowitz, Redpoint, Y Combinator and others. Whatnot seems to be experiencing none of Popshop Live’s growing pains, as it ranked #9 on the a16z marketplace 100 this year, sitting alongside more established marketplace leaders like Instacart and SeatGeek. In addition to pure-play attempts like Whatnot and Popshop Live, tech giants have dabbled in the space, with Amazon pushing Amazon Live while Instagram Live recently discontinued live shopping after a splashy release in 2020.
With the ups and downs of the last few years, it remains to be seen if live shopping with remain a fairly niche market in the U.S., or if we’ll all be buying our next big purchase from our favorite creators.
🤝 Venture Deals
LA Startups
- Lex, a months-old AI-powered writing tool raised a $2.75M Seed Round led by True Ventures. - learn more
- Crate, an AI-powered platform that gives personalized product recommendations raised a $5M Seed Round from MaC Venture Capital, Bessemer Venture Partners, UpFront Ventures and others. - learn more
- Massdriver, an extendable cloud ops platform, raised an $8M funding round led by Builders VC and joined by 1984 Ventures, YC, Uncorrelated Ventures, Page One Ventures, Soma Capital and Hack VC. - learn more
- Mosh, a maker of brain health-focused nutritional products, raised a $3M Series A led by Main Street Advisors and joined by Joyance Ventures, The Lab Capital Advisors, Verso Capital and Entrepreneur Ventures. - learn more
- LighthouseAI, a provider of pharma-supply chain compliance tools, raised a $2.3M Seed Round led by Healthy Ventures and joined by Bertelsmann Next. - learn more
- Ghost, a B2B marketplace for surplus inventory, raised a $30M Series B led by Cathay Innovation and joined by insiders Union Square Ventures, Equal Ventures and Eniac Ventures. - learn more
- Jinx, a dog food brand, raised a $17.9M Series B co-led by The Merchant Club and Align Ventures and joined by insiders AF Ventures and Era Ventures, and the Range Group. - learn more
LA Funds
- ScribeUp, a subscription management startup, raised a $3M Seed Round from Santa Monica-based Mucker Capital. - learn more
✨Featured Event✨
Plug In South LA is hosing its Accelerator Cohort 4 Founder Showcase on September 14th.
Hosted by our friends at Plug In, this event will showcase Early Stage Black and Brown Founders rolling out new service and platform solutions in Digital Health/Healthcare Tech, FinTech, Digital Media, PropTech, and EdTech.
🚀 For Early Stage Investors looking to diversify their portfolios with high-potential companies led by Black and Brown Entrepreneurs, this showcase is a must-attend. We also extend a warm welcome to the LA Tech community, including LPs, Corporate Executives & Foundations, and Family Offices.
🎟️ Secure your spot now and immerse yourself in a night of innovation, inspiration, and boundless opportunities. Register for the Plug In Accelerator Cohort 4 Founder Showcase here.
📅 LA Tech Calendar
Wednesday, August 30th
- GENERATIVE LA—LIGHTSPEED X SCOPELY X ACTIVISION 🗽 - Bringing together local founders, engineers, designers and product leaders building the future of AI!
Thursday, August 31st
- LA Tech Happy Hour + Product Managers Assoc. of LA🗽 - Meant to broaden LA tech networks away from laptops! Two tenured LA tech recruiters from Sharp Decisions will be in attendance.
- Pathways to Progress: Advancing AI Literacy in Education and The Workforce - Panel focused on the integration and evolution of AI literacy across the educational spectrum.
- Female Founder and Investor Walk!🗽 - Bringing female entrepreneurs and seasoned investors together for an evening walk around Echo Park Lake!
Other events to add to the calendar
🗽 - Free
Have an awesome event coming up? Reach out to be featured on next week’s Newsletter!
🎧 What We’re Listening To
- Listen to an engaging conversation between Minnie Ingersoll, Partner at TenOneTen, and Brett Queener, Managing Director at Bonfire Ventures. This insightful interview covers a wide array of topics, ranging from practical operational insights to Queener's unique experiences growing up in diverse countries. - listen here
📙 What We’re Reading
- Elysian Park Ventures hosted a portfolio company summit at Dodger Stadium - read more
- 25% of Grindr users are using the app, known for its association with hookups, for networking purposes - read more
- Federal judge dismisses an inventor’s attempt to copyright artwork produced by AI - read more
- Newzoo’s report on the global games market is favorable to the numerous video game publishers and developers headquartered in LA - read more
Love our newsletter? Share it through your social channels!
Read moreShow less
Christian Hetrick
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.
Momentum in Motion: IPOs, Partnerships, and Innovation
01:58 PM | December 13, 2024
🔦 Spotlight
Happy Friday, Los Angeles!
Last week, we dove into some of the major moves shaping LA’s tech scene, from ServiceTitan’s IPO ambitions to Anduril’s AI advancements. This week, the story continues with new milestones and updates that reveal how quickly the landscape is evolving. Here’s what’s happening now:
ServiceTitan’s IPO: A Fintech Spark
ServiceTitan’s initial public offering has proven to be a resounding success.The Glendale-based company priced its IPO at $71 per share, significantly above the anticipated range of $52 to $57. On its first trading day, shares opened at $101 and closed at $101.20, marking a 43% increase and valuing the company at nearly $9 billion. This impressive debut underscores ServiceTitan’s growing influence in the trades software space and signals a potential trend for other fintech leaders to watch closely. Read more about ServiceTitan's IPO success here.
Anduril Industries: Expanding the Horizon
We recently covered Anduril’s groundbreaking partnership with OpenAI, emphasizing the growing role of AI in defense. This week, Anduril continues to make headlines with new developments and collaborations that underscore its commitment to reshaping national security and autonomous technology:
- Partnership with Palantir:Anduril and Palantir are teaming up to accelerate AI capabilities in defense. Together, they aim to integrate Palantir’s advanced data analytics with Anduril’s autonomous systems, creating a platform capable of delivering actionable intelligence in real time. This partnership is expected to enhance battlefield decision-making, reduce operational risks, and maintain U.S. leadership in defense technologies. Read more about the partnership here.
- Dive XL Autonomous Submarine: Anduril’s Dive XL submarine is setting new standards for maritime autonomy. This long-endurance unmanned vehicle can operate in harsh underwater environments for extended periods, providing capabilities for intelligence gathering, surveillance, and reconnaissance. With its modular design, Dive XL supports a range of payloads, making it a versatile asset for maritime security. Learn more about Dive XL here.
- Archer VTOL Aircraft Partnership: Anduril’s collaboration with Archer Aviation is pushing the boundaries of autonomous flight technology. This partnership leverages Archer’s expertise in vertical takeoff and landing (VTOL) aircraft to complement Anduril’s advanced defense systems. By integrating Anduril’s cutting-edge AI capabilities with Archer’s innovative designs, the companies aim to create next-generation solutions for tactical military operations. This partnership reflects a shared commitment to innovation and positions both companies as leaders in reshaping the future of aerial defense. Details about the partnership are available here.
Writers Guild Challenges AI in Hollywood
The Writers Guild of America (WGA) continues its efforts to address the growing influence of AI in entertainment. In recent negotiations, the Guild has pushed for clear boundaries on the use of generative AI in scriptwriting, emphasizing the need to protect writers’ rights and creative integrity. As the industry grapples with the implications of this technology, the WGA’s stance highlights an ongoing effort to balance innovation with fairness in Hollywood. Read more about the Guild’s actions here.
Our thoughts are with the residents of Malibu as they face wildfires fueled by Santa Ana winds, which have displaced many and disrupted communities, including Pepperdine University. For resources during emergencies, explore ourguide to the top tech apps for natural disasters, highlighting tools to support preparation and safety.
From tech breakthroughs to creative industry challenges, the region’s innovation engine shows no signs of slowing. As 2024 approaches, one thing is clear: the momentum isn’t slowing down.
✨ Featured Event ✨
2024 PledgeLA Catalyst Awards
Image Source: Instagram: PledgeLA
Catalyst Awards to Honor Inspiring Entrepreneurs and Emerging Managers in Venture Capital, Catalysts Improving Access to Capital Across Los Angeles
PRINCIPALS AND HOSTS: The Annenberg Foundation and PledgeLA, the initiative launched in 2018 by the Annenberg Foundation and the City of Los Angeles to promote equity and increase access to capital for L.A.-based startups and investors from underrepresented backgrounds.
WHEN: Wednesday, December 18, 2024 at 5:30 p.m. PST.
WHERE: Register to See Address Los Angeles, California
🤝 Venture Deals
LA Venture Funds
- Alpha Edison led a $27M Series A funding round, joined by Acre Venture Partners, ReMY, among others, for One Bio, a UC Davis spinoff based in California that is developing biotech solutions to bridge the dietary fiber gap, with plans to scale production and expand its product offerings. - learn more
- Gideon Strategic Partners participated in a $110M Series C funding round for Capstan Medical, a Santa Cruz-based company developing robotics technology for heart disease treatment, with the funds aimed at advancing clinical trials and preparing for commercialization. - learn more
- Alexandria Venture Investments participated in a $75M financing round to support the formation of nChroma Bio, a new biotechnology company created through the merger of Chroma Medicine and Nvelop Therapeutics, focused on advancing gene-editing therapies for genetic blood disorders. - learn more
- Riot Ventures led a $10.1M Seed funding round for Deterrence, a company developing automated solutions for energetics production, including explosives and propellants, with participation from Impatient Ventures and others, to scale its technology, improve manufacturing efficiency, and meet growing industry demands. - learn more
- Chapter One Ventures participated in a $12M Series A funding round for Hyperbolic, a San Francisco-based AI company specializing in predictive analytics for supply chain optimization, with plans to use the funds to enhance its technology platform and expand its team. - learn more
- Blue Bear Capital participated in a $35M Series C financing round for Raptor Maps, a Boston-based company that provides software solutions for solar asset management. The funds will be used to enhance their AI-driven platform, expand global operations, and support the growing needs of the renewable energy industry. - learn more
- Behind Genius Ventures and Night Ventures, among others, participated in a $3M Pre-Seed funding round for Moldco, a Boston-based company providing digital, evidence-based care, treatments, and lab testing to help individuals reclaim their health from mold toxicity, with plans to use the funds to expand operations nationwide in 2025. - learn more,
- Regeneration.VC co-led a €8M Series A funding round for Orbisk, a Netherlands-based company that develops AI-powered food waste monitoring systems for the hospitality industry, with plans to use the funds to expand internationally and enhance their technology platform - learn more
- Mucker Capital participated in a $17M Series A funding round for Ask Sage, an Arlington, VA-based company offering a generative AI platform for government and commercial sectors, with plans to use the funds to expand its AI capabilities, drive growth, and increase its workforce. - learn more
- Magnify Ventures participated in a $8M Series A funding round for MiSalud Health, digital health platform offering affordable, same-day bilingual telehealth consultations in Spanish and English to better serve Hispanic communities in the U.S. and Mexico. With a focus on improving access for Spanish-speaking individuals, the company aims to address the growing demand for culturally and linguistically appropriate healthcare solutions as the Hispanic population continues to expand rapidly in the U.S.. - learn more
LA Exits
- Elios Vision, a company specializing in innovative glaucoma treatment technologies, has been acquired by Bausch + Lomb to strengthen its portfolio in addressing the needs of glaucoma patients. The acquisition brings Elios Vision's cutting-edge solutions into Bausch + Lomb's comprehensive eye health offerings, expanding its capabilities to provide advanced care for this critical condition. - learn more
- OceanX, a provider of subscription-focused fulfillment and logistics solutions, has been acquired by Cart.com to enhance its end-to-end e-commerce platform and expand its capabilities in subscription management and order fulfillment. - learn more
Read moreShow less
RELATEDTRENDING
LA TECH JOBS