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XMercedes-Benz Offers a Glimpse Into a Future Where Your Car Parks Itself
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.
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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.

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.
Courtesy of Mercedes-Benz/Bosch
The vehicle pulls out from its parking spot and drives itself to its owner.
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.”

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.
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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.
🔦 Spotlight
Happy Friday, Los Angeles.
The newest employee in the office does not need a desk, a salary or a coffee order. But it may have access to your company’s emails, financial records, customer data and software systems.
That raises a fairly important question: Who decides what an AI agent is allowed to do?
El Segundo-based cybersecurity company Saviynt is building its next chapter around the answer.
Carrick Capital Partners announced this week that it closed a $600M continuation vehicle for Saviynt, including a new $255M investment in the company. The transaction allowed Carrick’s existing investors to either take liquidity or remain invested, while also providing liquidity to Saviynt employees through a tender offer.
Continuation vehicles are not exactly known for making gripping Friday reading. The company behind this one is considerably more interesting.
Saviynt develops identity security software that helps businesses determine who can access their applications, data and infrastructure. Increasingly, however, “who” does not refer exclusively to a person.
Companies are deploying AI agents that can retrieve information, write code, communicate with customers and complete multistep tasks with limited supervision. These digital workers need access to company systems to be useful, but every new permission also creates another opportunity for sensitive information to be exposed or an unintended action to be taken.
In other words, AI agents may be tireless employees. They are not necessarily trustworthy ones.
Saviynt is addressing that problem through Zuma, its platform for discovering, securing and governing AI agents, large language models and other nonhuman identities alongside a company’s human workforce. The goal is to give businesses one place to determine what every identity can access, whether it belongs to an employee, a contractor, a software application or an autonomous agent operating at machine speed.
The opportunity appears to be growing quickly. Saviynt has surpassed $300M in annual recurring revenue, up from approximately $10M when Carrick first invested. The company says bookings have increased by more than 80% this year while customer retention remains at 96%.
The new investment was completed as part of the final close of Saviynt’s previously announced $700M Series B, which valued the company at approximately $3B. Carrick’s continuation vehicle was led by Coller Capital and co-led by HSBC Asset Management, giving the investment firm more time and capital to remain behind one of its strongest-performing companies.
For Saviynt, the funding will support further development of its identity platform, deeper integrations with major cloud and software providers and its push to become a central security layer for the agentic workplace.
That ambition reflects a broader change taking place inside companies. The first wave of enterprise AI focused largely on what the technology could generate. The next phase is about what it can actually do, and whether businesses can maintain control once AI moves from answering questions to taking action.
Saviynt is betting that identity will become the gatekeeper.
AI agents are gaining access to the digital workplace, whether corporate security teams are ready for them or not.
Someone still has to hold the keys.
More from this week’s LA startup and venture scene below.
🤝 Venture Deals
LA Venture Funds
- Fulcrum Ventures participated in Critical Materials Group’s $10.3M seed round, led by Overmatch Ventures and joined by Victory Six Advisors. The Austin-based defense manufacturer will use the funding to develop and commission modular, automation-ready production systems designed to expand domestic manufacturing capacity for munitions and advanced energetic materials. - learn more
- Fusion VC participated in Newlight’s $9M seed round alongside lomarlabs, BIRD Energy, Undeterred Capital and CiRi Ventures. The San Francisco-based maritime technology company recently demonstrated its hydrogen-hybrid retrofit on an 8,500-nautical-mile commercial voyage, reducing fuel consumption by 24% and carbon dioxide emissions by 28%. - learn more
- Rebel Fund participated in Metal’s $4.5M seed round alongside a16z, Y Combinator, Gaingels, Indus Valley Capital, Phaze Ventures and Pioneer Fund. Metal will use the funding to build an AI-native operating system that helps founders identify relevant investors, manage outreach and automate other parts of the venture fundraising process. - learn more
- UP.Partners participated in Reframe Systems’ $40M funding round, led by Energy Impact Partners and joined by Counterpart Ventures, E12 Ventures, Global Brain, Thin Line Capital and LACI Impact Fund. The homebuilding startup will use the capital to expand its network of robotics-powered microfactories, which it says can construct homes three times faster and at 35% lower cost than traditional methods. - learn more
- Clocktower Technology Ventures participated in Sharpi’s $4M seed round, co-led by NXTP and ONEVC and joined by MAYA Capital. The Brazilian startup will use the funding to expand its team and develop autonomous AI agents that connect WhatsApp conversations with enterprise systems to automate B2B sales tasks such as order processing, customer follow-ups and demand generation. - learn more
LA Exits
- Extensiv, a California-based provider of warehouse management and fulfillment software, has been acquired by Descartes Systems Group for approximately $120M in cash. The acquisition adds Extensiv’s AI-enabled inventory, order, billing and omnichannel fulfillment tools to Descartes’ logistics network, strengthening its offerings for third-party logistics providers and ecommerce brands. - learn more
- DocSolutionUSA has been acquired by Stewart Information Services alongside ProTitleUSA, adding mortgage document generation and automation capabilities to Stewart’s title services platform. The companies provide title, document and due diligence services for mortgage servicers, investors and capital markets clients; financial terms were not disclosed. - learn more
- Fysh Foods, the Los Angeles-based plant-based seafood brand founded by creator and entrepreneur Zoya Biglary, has been acquired by City Roots Hospitality in an all-cash deal with undisclosed terms. City Roots plans to introduce Fysh Foods’ raw fish alternatives across its New York City restaurants and potentially expand the brand beyond the city as its restaurant portfolio grows - learn more
🔦 Spotlight
Hey there, Los Angeles.
For the past decade, Alex Heath has made a career out of figuring out what the technology industry is doing before everyone else.
Now, he is going to invest in it.
Heath announced this week that he is joining Los Angeles-based Sound Ventures as a partner on its investing team. The veteran technology journalist will continue independently operating Sources, the newsletter and podcast business he launched after leaving The Verge last year.
It is an unusual career move, but perhaps not as unusual as it initially appears.
Journalists and venture capitalists spend much of their time doing surprisingly similar work. Both look for signals before they become obvious, build relationships with people who know what is coming next and attempt to distinguish a lasting shift from a convincing story.
The crucial difference is what happens after they find one.
A journalist publishes. An investor writes a check.
Heath has spent years reporting on some of the technology industry’s most powerful companies and executives. At The Verge, where he served as deputy editor, his work focused on the internal decisions shaping companies such as Meta. More recently, Sources has taken readers inside the AI race through reporting and interviews with executives including Sam Altman and Mark Zuckerberg.
That experience gives Sound something venture firms increasingly want: someone who already understands the founders, companies and narratives competing to define the next era of technology.
Sound Ventures is not exactly starting from scratch. Led in Los Angeles by Guy Oseary and Effie Epstein, the firm manages nearly $2B and has backed companies including OpenAI, Anthropic, World Labs, Brex, Affirm and GitLab. According to The Wall Street Journal, Sound deployed more than $800M into early positions in OpenAI, Anthropic and World Labs as it intensified its focus on artificial intelligence.
Heath is joining during an important transition for the firm. Ashton Kutcher, who co-founded Sound with Oseary in 2015, departed earlier this year to launch a new venture firm. Oseary and Epstein are continuing to lead Sound while raising its fifth flagship fund and sharpening its strategy around companies with the potential to reach meaningful commercial scale.
Adding Heath suggests that Sound’s next phase will not be defined by capital alone.
As AI makes it faster and less expensive to build software, technical capability may become less effective as a differentiator. More startups will be able to create credible products, and more of them will compete for the same finite supply of customers, talent and attention.
In that environment, knowing how to identify a compelling founder is only part of the job. Venture firms also need to understand how companies earn trust, communicate what makes them different and remain culturally relevant in an increasingly crowded market.
That is familiar territory for Sound. Oseary built his career managing artists including Madonna and the Red Hot Chili Peppers, where recognizing talent was inseparable from helping that talent connect with an audience. Heath brings a different version of the same instinct, developed through finding important stories and understanding why people should pay attention to them.
Heath will continue owning and operating Sources independently while expanding its podcast and interviewing prominent voices across the technology industry. That means he is not abandoning the platform or audience he built. He is adding a new vantage point.
The combination could prove especially valuable to Sound. Heath brings the instincts of a reporter, the reach of an independent media founder and years of relationships with the people shaping technology. Now, he can apply that experience to finding and supporting the next generation of founders.
It is a fitting evolution for someone who has spent his career identifying important technology stories early.
This time, he will have the opportunity to help write what happens next.
Venture firms once competed primarily through capital, networks and operating expertise. Now, access to attention is becoming an asset of its own. Founders need help reaching customers and shaping public understanding, while investors want better ways to recognize which people and ideas will command that attention next.
Sound Ventures hired someone who has spent a decade doing exactly that.
Heath used to decide which technology stories were worth following.
Now, he will help decide which ones get funded.
More from this week’s LA startup and venture scene below.
🤝 Venture Deals
LA Companies
- Maven Robotics emerged from stealth with a $100M Series A and humanoid robots already operating in warehouse deployments. The company says its robots can work for 16 hours a day with 99% uptime and is positioning itself as a reliable alternative for businesses whose existing robotics providers fail to meet deployment targets. - learn more
- Bedrock Capital participated in Mach Industries’ $600M Series C extension alongside Ribbit Capital, Infinite Capital and Sequoia, bringing the round’s total to $900M and doubling the defense startup’s valuation to $3.7B in three months. The Huntington Beach company manufactures lower-cost unmanned aircraft, strike weapons and counter-drone systems, while expanding into solid rocket motors and jet-engine production to address critical defense supply-chain bottlenecks. - learn more
- U First Capital participated in Positron AI’s $875M funding round, which was co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Jim Clark, valuing the AI chip startup at $5B. Positron will use the capital to bring its memory-focused Asimov processor and Titan server system to market, offering an energy-efficient alternative to GPUs for running AI models. - learn more
- WndrCo participated in Harvey’s $550M funding round, co-led by Diffusion and Lightspeed Venture Partners, valuing the legal AI company at $15.5B. Harvey will use the capital to expand its team and advance its AI platform, which helps law firms, in-house legal departments and professional-services organizations build and manage proprietary legal intelligence. - learn more
- Nolan Capital participated in Encoded Therapeutics’ $275M Series F, which was co-led by GV and another healthcare-focused fund and included several new and returning investors. The biotech will use the capital to advance its lead gene therapy for Dravet syndrome through pivotal studies, expand its manufacturing capabilities and prepare another treatment for post-amputation nerve pain for clinical testing in 2027. - learn more
- UP Partners led Overroute’s $5.5M seed round to expand its AI-powered freight execution platform for large trucking fleets and logistics operators. The company’s AI agents automate load monitoring, exception management and freight coordination, helping fleets respond to disruptions and keep shipments moving with less manual work. - learn more
- Patron Fund participated in System’s $20M funding round alongside Will Ventures, Vine, Courtside, Daybreak, SV Angel and RiverPark Ventures. The San Francisco company will use the capital to expand its vertically integrated peptide platform, which connects patients with licensed clinicians and personalized treatments from U.S. compounding pharmacies while emphasizing testing, traceability and regulatory compliance. - learn more
- Alpha Edison led Onix’s $5M pre-seed round, with participation from Garage Capital, Ride Home Fund and strategic investors including UTA co-founder Jeremy Zimmer and Real Ventures co-founder JS Cournoyer. The Montreal startup will use the funding to develop its private AI platform, onboard more specialists and prepare for a public launch, offering personalized guidance built exclusively from licensed expert knowledge rather than information scraped from the internet. - learn more
- Rebel Fund participated in VideoGen’s $3.3M seed round alongside Y Combinator, Lobster Capital, Stretford End Capital, Mento VC, Pioneer Fund and Decacorn VC. The San Francisco startup, which has reached more than 5M users across 190 countries, will use the funding to expand its team and grow its AI platform for producing editable, copyright-free videos. - learn more


