This Week in ‘Raises’: Shield AI Draws in $225M, AllGear Digital Collects $40M
Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.
Artificial intelligence-based drone technology company Shield AI raised fresh funding to continue building its AI pilots for aircrafts, while media company AllGear Digital drew in new funding to continue growth and to bring in additional publishers.
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Venture Capital
Shield AI, a San Diego-based artificial intelligence-based drone technology company raised a $225 million Series E funding round with $150 million in equity and $75 million in financing. The round was led by the U.S. Innovative Technology Fund (USIT).
AllGear Digital, a Santa Monica-based media company, raised a $40 million financing round led by Bardin Hill Investment Partners.
Los Angeles-based entertainment platform Crossroads Live Inc. raised $43 million in funding, per an SEC filing.
Per an SEC filing, FitOn Inc., a West Hollywood-based fitness app raised $20 million in funding.
Los Angeles-based footwear prototyping lab FCTRY Lab raised $6 million in funding led by Slauson & Co. Other prominent investors include co-founder of Tinder, co-founder of WeWork and the West Coast head of Warburg Pincus.
Beni, a Santa Barbara-based secondhand shopping platform raised $5 million in funding led by Bouyant Ventures.
San Diego-based commerce platform Pack raised a $3 million seed financing round led by Norwest Venture Partners.
Raises is dot.LA’s weekly feature highlighting venture capital funding news across Southern California’s tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).
Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.
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