los angeles tech news

LA Tech Updates: Spotify Misses Revenue Mark, Snap Releases Diversity Report, TikTok Jabs Facebook

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • Spotify has more listeners, but ad revenue drops
  • 'We Must Do More': Snap Releases Dismal Diversity Report
  • TikTok CEO Promises More Transparency, Jabs Facebook for 'Copycat Product'

    TikTok CEO Promises More Transparency, Jabs Facebook for 'Copycat Product'

    LA Tech Updates: TikTok Says it Will Pay Creators — and Universal Music Group

    TikTok is promising more transparency.

    The Culver City-based social media platform will release its algorithms and content moderation policies, CEO Kevin Mayer wrote in an open letter Wednesday. Owned by China's ByteDance, the company has been facing pressure as speculation grows that its content is being shared with Beijing.

    "We accept this and embrace the challenge of giving peace of mind through greater transparency and accountability," Mayer wrote. "We believe it is essential to show users, advertisers, creators, and regulators that we are responsible and committed members of the American community that follows US laws."

    Earlier this month, the Trump administration said it was "looking at" banning the app over those concerns. Then last week, the House prohibited U.S. federal employees from downloading the app on government-issued devices.

    It's also notable that his letter was published the same day Facebook's Mark Zuckerberg as well as the CEOs of Twitter, Google and Apple testified before Congress on antitrust law. In the letter, Mayer takes a swipe at Zuckerberg for this upcoming Reels product.

    What you need to know:

    • Calling it the Transparency and Accountability Center, TikTok will let experts view the company's data practices and algorithms.
    • Investors of parent company ByteDance are now valuing the app at $50 billion — surpassing the projected 2020 revenue by 50 times. Some are pushing for ownership over the platform.
    • Mayer took jabs at the other tech giants in the letter:
      • "This puts us a step ahead of the industry, and we encourage others to follow suit."
      • "At TikTok we welcome competition. We think fair competition makes all of us better. To those who wish to launch competitive products, we say bring it on."
      • Then he hit Facebook's forthcoming Reels feature, calling it a "copycat product."

    'We Must Do More': Snap Releases Dismal Diversity Report

    Snap's Accelerator Program Expands with 'Yellow Collabs'

    While much of the tech world was fixated on a blockbuster congressional hearing of four executives from top tech companies, Snap Inc. quietly released its first report on diversity since the company was founded in 2011 and the numbers were dismal.

    Evan Spiegel, CEO of Snap, which has faced allegations of a racist and sexist workplace, as recently as last month told employees he wouldn't release the numbers publicly. The company has good reason to try to bury the news.

    Blacks only represent 4.1% of Snap's U.S. workforce while Hispanic/Latinx makeup 6.8%, far below their numbers in the general population. At the top, 2.6% of leadership roles are held by Blacks while seven percent are held by Hispanic/Latinx. Women make up 32.9% of Snap's global workforce but only 16.1% of tech teams and just 6.7% of tech teams' leadership.

    "To date, our DEI (Diversity, Equity & Inclusion) outcomes simply have not been good enough," the company said in the report. "We must do more." Snap has set a goal of doubling the number of women in tech roles by 2023 and doubling the number of underrepresented minorities at the company by 2025.

    While its diversity numbers are low, Snap is not much worse than other tech giants, though most of those companies have released their numbers for years.

    Last month, Snap was forced to remove a Juneteenth filter that prompted users to smile in order to break a series of chains, and that was not the first time the company was criticized for an offensive filter.

    "We deeply apologize for the offensive Juneteenth Lens," the company said in a tweet.

    Snap outlined a number of steps to improve its numbers, including changes to recruiting, setting representation goals for underrepresented groups, and instituting a $70,000 minimum living wage for employees working at its Santa Monica headquarters.

    Spotify Has More Listeners, but Ad Revenue Drops

    Spotify Earnings: The Music Streaming War Is Heating Upfarm5.staticflickr.com

    Spotify's second quarter earnings, released today, show listening and podcast streaming up even as revenue missed the mark with the pandemic hurting ad sales.

    The Swedish music streaming service acknowledged slower business in April and May across emerging regions. Still, Spotify said its strength in North America offsets the setback, noting that it turned a corner in June.

    "We believe the improved momentum we saw in the back half of the quarter has continued into Q3 and we expect to hit our full year targets," the company told shareholders.

    What you need to know:

    • Ad revenue, which makes up less than 10% of total revenue, is down 21% from last year, a nod to dropping sales brought on by the pandemic.
    • The average revenue per Spotify Premium user (ARPU) is also down 9% as a fewer percentage of users pay the standard $9.99/month rate. More are opting in for family and student plans. Users in some countries also pay a lower price for subscriptions.
    • 13 million new monthly active members brings Spotify's total to an all-time high of 299 million. Plus, 8 million new subscribers brings the total of ad-free premium customers to 138 million.
    • Overall listening times have returned to pre-pandemic levels in all regions except Latin America.
    • More users are listening on at-home smart speakers and smart TVs.
    • In an effort to diversify Spotify content and move away from music, podcast options are expanding — including exclusive deals with big names like Joe Rogan, Kim Kardashian, DC Franchise, the Obamas and TikTok star Addison Rae.
    • Since the start of 2019, overall podcast listening has doubled since. One fifth of monthly active members are tuning in.

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    Biometrics, Crypto, and Comfort: New Tech Lands in LA

    Grace Lee
    Biometrics, Crypto, and Comfort: New Tech Lands in LA

    🔦 Spotlight

    Happy Friday, Los Angeles!

    This week, it's all eyes, quite literally, on LA's latest tech headlines.

    Image Source: World

    First up, World has officially touched down in the U.S., launching its ambitious biometric crypto project in six cities, including right here in Los Angeles. Cofounded by OpenAI CEO Sam Altman, World is betting big on a future where proving you're human is just a blink away. Their tool? An orb-shaped device that scans your eyes to create a "World ID," a decentralized digital passport built for the AI era. Verified users can then claim Worldcoin, a cryptocurrency aiming to become the first truly global digital currency. To tie it all together, World has rolled out the World App, a wallet to manage your ID and crypto and World Chain, a new blockchain designed to prioritize real people over bots. The ambition is bold. The stakes are high. And the question still lingers: How much privacy are we willing to trade for convenience?

    Image Source: Lyft

    Meanwhile, Lyft is rolling out the red carpet, or perhaps a comfortable seat cushion, for LA’s senior citizens. The rideshare giant just launched Lyft Silver in Los Angeles, offering older adults personalized support, live phone assistance, and specially trained drivers. It's a savvy play into an often-overlooked demographic, combining technology and empathy to serve a growing market of tech-savvy seniors. Will Lyft’s new approach give them an edge in LA’s competitive rideshare market? Stay tuned, and maybe text your grandma… she just might become Lyft’s latest power user.


    🤝 Venture Deals

    LA Companies

      • True Classic, a Los Angeles-based apparel brand known for its better-fitting basics, has received its first institutional investment from 1686 Partners. This strategic partnership aims to accelerate True Classic's global expansion and diversify its product offerings to include women's and children's lines. The investment will also support enhancements in supply chain, logistics, and omnichannel retail operations, positioning the brand for continued growth in the global market. - learn more
      • Chaos Industries, a Los Angeles-based defense technology startup, raised $275M in a Series C round led by Accel and New Enterprise Associates, valuing the company at $2N. The company develops advanced detection, monitoring, and communication systems for defense and commercial sectors. The funds will be used to expand product development, grow the team, and scale manufacturing operations. - learn more
      • Apex, a Los Angeles-based spacecraft manufacturer, raised $200M in Series C funding to scale production of its productized satellite bus platforms. The company will use the funds to expand operations at its 50,000-square-foot facility and increase manufacturing capacity to meet demand from government and commercial customers. Apex aims to accelerate delivery timelines and support national security initiatives like the U.S. Department of Defense’s Golden Dome program. - learn more
      • Deferred, a technology-driven Qualified Intermediary, has raised $3.6M in seed funding to modernize and democratize 1031 exchanges for everyday real estate investors. The funding round was led by B Capital and Fika Ventures, with participation from strategic investors. Deferred's platform offers AI-driven compliance, robust fund security, and a no-fee exchange model, aiming to make tax-deferred real estate transactions more accessible, secure, and efficient. The funds will be used to expand access to 1031 exchanges, ensuring that every investor, not just institutional players, can leverage this powerful wealth-building tool. - learn more

      LA Venture Funds

      • Village Global participated in Stately Bio's $12M seed funding round. Based in Palo Alto, Stately Bio is a biotech startup developing an AI-powered live-cell imaging platform that enables non-invasive, real-time analysis of cell behavior, enhancing regenerative medicine and cell therapy development. The funds will be used to scale the platform and expand its pipeline of stem cell-derived therapies. - learn more
      • Riot Ventures participated in True Anomaly's recent $260M Series C funding round. Based in Centennial, Colorado, True Anomaly develops advanced spacecraft and software systems for U.S. national security missions, including its flagship Jackal vehicle designed for close-proximity operations in orbit. The funds will be used to support upcoming space missions, expand manufacturing capabilities, and grow the company's workforce. - learn more
      • Navitas Capital led a $10.5M Series A funding round for Field Materials, a Charlotte, North Carolina-based startup that automates construction material and equipment procurement using AI. Field Materials' platform leverages proprietary large language models to process vendor quotes, delivery slips, and invoices, integrating the data into major construction accounting systems. This approach reduces purchase order and invoice processing time by 90%, improves margins, and helps construction companies secure volume pricing. The funds will be used to double Field Materials' team and triple its revenue in 2025, accelerating the delivery of AI capabilities to meet growing demand in the construction industry. - learn more
      • Bold Capital Partners participated in Near Space Labs $20M Series B funding round. Based in Brooklyn, New York, Near Space Labs deploys helium balloon–lifted "Swift" robots to capture ultra-high-resolution aerial imagery from the stratosphere. The company plans to use the funds to expand its fleet and increase coverage, aiming to provide 7cm-resolution images to 80% of the U.S. population twice annually. - learn more
      • Alexandria Venture Investments participated in a $15M Series A funding round for Hoofprint Biome, a Raleigh, North Carolina–based agtech startup. Hoofprint Biome develops enzyme-based feed additives aimed at reducing methane emissions from cattle while enhancing productivity. The company plans to use the funds to advance product development, conduct on-farm trials, and prepare for commercial launch. - learn more
      • Finality Capital Partners participated in a $25M seed funding round for Miden, a privacy-focused blockchain protocol spun out of Polygon. Miden leverages zero-knowledge technology to offer fast, confidential transaction processing tailored for large institutions handling sensitive payment flows. The funding will support the development of Miden's ecosystem and developer tools, with plans to launch its main network by the end of the year. - learn more
      • Overture VC participated in Glacier's $16M Series A funding round. Glacier, a San Francisco-based startup, develops AI-powered robotic systems designed to automate and enhance the efficiency of recycling processes at material recovery facilities (MRFs). The funds will be used to expand Glacier's operations, deploy its technology to more MRFs across the U.S., and further develop its AI and robotics capabilities to improve recycling rates and reduce environmental impact. - learn more
      • Powerhouse Capital and Rideback participated in a $10M funding round for Cheehoo, a Los Angeles-based startup developing AI-powered tools to streamline 3D animation workflows. Cheehoo's platform integrates with industry-standard software like Maya and Unreal Engine, offering features such as AI-assisted character animation, speech-to-motion capabilities, and real-time collaboration tools. The company plans to use the funds to enhance its technology and expand its reach to a broader range of creators, from major studios to independent animators. - learn more
      • Village Global participated in P-1 AI's recent $23M seed funding round. Based in Henderson, Nevada, P-1 AI is developing an artificial general intelligence (AGI) platform named Archie, designed to automate engineering tasks for physical systems. The company plans to use the funds to advance Archie's capabilities, starting with applications in data center cooling systems, and eventually expanding into sectors like industrial systems, automotive, and aerospace. - learn more
      • TenOneTen Ventures led a $3.3M seed funding round for Domos, a startup developing an AI-powered workforce to streamline property management operations. Based in New York City, Domos' platform automates routine communications and workflows, enabling property managers to focus on higher-value tasks. The funds will be used to expand the company's engineering team and further develop its AI capabilities to enhance efficiency and resident experience. - learn more
      • Leap Venture Studio participated in a $1M seed funding round for Buddy Bites, a Hong Kong-based dog food brand that donates to shelters with every order. The funds will support Buddy Bites' expansion in Hong Kong, Singapore, and the UK, with plans to enter Taiwan and launch new products later this year. Additionally, Buddy Bites joined Leap Venture Studio's 12-week accelerator program, gaining mentorship and access to a network of industry experts to further its mission of providing premium dog food while supporting animal shelters. - learn more

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      From Metro Rails to Blended Wings: LA’s Transportation Era

      Grace Lee
      From Metro Rails to Blended Wings: LA’s Transportation Era

      🔦 Spotlight

      Hello Los Angeles,

      Move over Coachella, hello Stagecoach. With crowds headed east, LA might feel a little quieter this weekend, but beneath the surface, the city is busy making moves that could shape the future of travel.

      Image Source: Metro

      First up: a major milestone at LAX.

      This June, the new LAX/Metro Transit Center Station will officially open, finally linking Metro's C and K Lines to a new ground hub near the airport.

      It marks the first real rail connection to LAX in the airport’s history, a major step for a city that has long been synonymous with gridlock.

      While the fully Automated People Mover system connecting the station to the terminals is still under construction and expected to open in 2026, the launch of the transit center is a critical piece of LA’s broader infrastructure upgrade ahead of the 2028 Olympics.

      Even if most travelers will still rely on cars or rideshares for now, it is a sign that even the most car-centric corners of the city are starting to shift.

      Image Source: JetZero

      Meanwhile, in Long Beach, a local aerospace startup is aiming to transform air travel altogether and just got a major boost.

      JetZero, a stealthy aviation company based in Long Beach, announced a new investment from United Airlines to advance its radical new aircraft design: the blended wing body.

      Unlike traditional tube-and-wing planes, JetZero’s blended design integrates the wings and fuselage into a single structure, reducing aerodynamic drag and dramatically improving fuel efficiency.

      United's investment is more than just financial support. It is a strategic bet on JetZero’s vision for cutting long-haul flight emissions in half, a critical goal as the aviation industry faces mounting pressure to decarbonize.

      JetZero plans to have its first full-scale prototype flying by 2027, and if successful, it could set a new blueprint for the next generation of commercial aircraft.

      For Los Angeles, it is another reminder that some of the boldest ideas shaping the future of mobility are being built right here in our own backyard.

      Planes, trains, and a city learning to move a little differently. Just another week in LA.

      🤝 Venture Deals

      LA Companies

      • Durin, an El-Segundo startup aiming to automate drilling for critical minerals exploration, has secured $3.4M in a pre-seed funding round led by 8090 Industries. The company is developing a sensor-equipped drilling rig capable of drilling 300 meters deep, gathering data to build an automation model. The funding will support the development of this technology, with the goal of enabling unattended drill rigs within two to three years. - learn more
      • Altruist, a Los Angeles-based custodian and software platform for registered investment advisors (RIAs), raised $152M in a Series F round led by GIC, bringing its valuation to $1.9 billion. The platform streamlines account opening, trading, reporting, and billing for over 4,700 advisors. The new funding will be used to accelerate product development, expand the team, and scale enterprise capabilities. - learn more
      • Sesh, a superfan engagement platform that connects artists with fans through interactive experiences, exclusive content, and live events, has raised $7M in funding led by Miura Global. The funds will be used to expand platform capabilities, onboard more artists, and enhance technology for deeper insights and engagement opportunities. - learn more
      • Khloud, a new consumer brand founded by Khloé Kardashian, has raised $12M in an oversubscribed funding round with participation from Jessica Bixby, Serena Ventures, William Morris Endeavor (WME), and Shrug Capital. The Los Angeles-based company is debuting with a protein-rich popcorn made from whole-grain corn and its proprietary “Khloud Dust” seasoning, delivering 7 grams of protein per serving. The funds will be used to expand into additional snack categories and scale retail distribution, beginning with a Target launch on April 29. - learn more

      LA Venture Funds

      • Anthos Capital co-led a $20M funding round for Theo, a New York-based crypto trading infrastructure startup. Theo enables retail investors to access institutional-grade trading strategies—such as high-frequency arbitrage and cross-chain funding rate optimization—through strategy-specific vaults, eliminating the need for technical expertise. The platform operates on a custom validator network that facilitates real-time execution across centralized and decentralized exchanges, enforcing margin requirements and system-wide overcollateralization. The funds will be used to expand Theo's validator infrastructure, integrate with additional financial platforms, and grow its user base. - learn more
      • Pinegrove Capital Partners participated in a $70M Series B funding round for Nourish, a New York-based startup offering AI-powered, insurance-covered virtual nutrition counseling. Nourish connects patients with registered dietitians to manage chronic conditions like obesity and diabetes, boasting a network of over 3,000 dietitians across all 50 states. The funds will be used to expand its provider network, enhance AI tools, and deepen partnerships with healthcare organizations. - learn more
      • Mantis VC participated in Chainguard's $356M Series D funding round. Based in Kirkland, Washington, Chainguard secures software supply chains by offering tools like secure containers, virtual machines, and libraries for open-source development. The funding will be used to expand product offerings, grow the go-to-market team, and support its expanding customer base. - learn more
      • Clocktower Technology Ventures participated in a $30M Series C funding round for Steadily, a landlord insurance provider based in Austin, Texas, and Overland Park, Kansas. Steadily offers tailored insurance solutions for rental property owners, serving policyholders across all 50 U.S. states. The funds will be used to expand operations, enhance technology, and grow the team, aiming to streamline the insurance process for landlords. - learn more
      • Blue Bear Capital participated in Ocient's recent $42.1M Series B extension, bringing the Chicago-based data analytics company's total funding to $159.4M. Ocient specializes in high-performance, energy-efficient analytics solutions for large-scale, complex data and AI workloads, leveraging its proprietary Compute Adjacent Storage Architecture® and Megalane™ technology. The new capital will be used to advance the development and delivery of energy-efficient solutions for costly, complex, and operationally burdensome data and AI workloads. - learn more
      • Group11 participated in Healthee's $50M Series B funding round, supporting the New York-based company's mission to simplify health benefits through AI. Healthee offers an AI-powered platform that helps employees and employers navigate complex healthcare systems, enhancing user experience, reducing costs, and improving care outcomes. The funds will be used to expand Healthee's product suite, scale go-to-market operations, and accelerate the development of its AI-powered tools. - learn more
      • Sum Ventures participated in Irrigreen's $19M Series A funding round. Headquartered in Edina, Minnesota, with operations in San Francisco, Irrigreen develops robotic irrigation systems that utilize digital mapping and AI to optimize water usage for residential lawns. The funds will be used to advance product development, expand manufacturing in the U.S., and enhance the company's smart lawn care solutions. - learn more
      • Ventek Ventures participated in Recce's $4M funding round. Based in San Francisco, Recce offers data-native code review tools designed to enhance data validation in AI and software development workflows. The funds will be used to advance Recce's open-source toolkit and launch its collaborative SaaS platform, Recce Cloud, aiming to streamline data validation processes across the software lifecycle. - learn more
      • B Capital led an $87M Series C funding round for Omnidian, a Seattle-based provider of performance assurance services for residential and commercial solar and energy storage systems. Omnidian offers comprehensive protection and performance plans, ensuring optimal operation and maintenance of clean energy assets. The funds will be used to scale core operations, expand into high-potential markets like Australia and Europe, and explore new product lines such as electric vehicle (EV) charging infrastructure and commercial energy storage solutions. - learn more
      • Overture VC participated in PHNX Materials' $2.5M seed funding round. Based in the U.S., PHNX Materials has developed a process to purify coal fly ash by removing impurities like sulfur and carbon, making it suitable for use in concrete production. This approach not only repurposes industrial waste but also reduces the carbon footprint of concrete by replacing a portion of cement. The funds will be used to scale PHNX's purification technology and expand its operations to meet the growing demand for sustainable construction materials. - learn more

      LA Exits

      • Maza, a fintech startup catering to Spanish-speaking consumers in the U.S., has been acquired by Flex for $40M. Originally focused on helping immigrants open bank accounts and obtain ITINs, Maza shifted its services toward small business owners, such as landscapers and construction subcontractors. This pivot aligned with Flex's mission to provide comprehensive financial tools for business owners. Post-acquisition, Maza will rebrand as Flex Consumer, with its founders assuming executive roles within the combined company. The merger aims to accelerate their shared roadmap in delivering integrated financial solutions. - learn more
      • Moondust Management, a talent agency known for representing creators in travel, lifestyle, wellness, and purpose-driven content, has been acquired by Fixated, a digital entertainment platform. This acquisition aims to enhance Fixated's capabilities in content creation and brand partnerships by integrating Moondust's expertise and creator network. - learn more
      • ClaimShark, a provider of payment integrity solutions, has been acquired by Lyric, a leader in healthcare payment accuracy and integrity solutions. ClaimShark's innovative tools, including the Virtuoso command center and Replay audit platform, will be integrated into Lyric's AI-driven Lyric42 platform. This acquisition aims to enhance payment accuracy, transparency, and efficiency across the healthcare ecosystem by streamlining and simplifying healthcare transactions to eliminate waste. - learn more

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      This Week in LA: Robotaxis, Reels & a $100K Challenge

      Grace Lee
      This Week in LA: Robotaxis, Reels & a $100K Challenge

      🔦 Spotlight

      Happy Friday, LA,

      It’s Coachella Weekend 2, which means fewer cars on the road, easier restaurant reservations, and just enough quiet to hear the next wave of innovation humming through the city. This week, we’re watching more driverless cars roll in, Instagram remix your Reels feed, and a $100K climate challenge call for startups. Let’s get into it.

      🚕 Zoox Is Bringing Its Robotaxis to LA

      Image Source: Zoox

      Amazon-owned Zoox just announced that its futuristic, steering wheel–less robotaxis are heading to Los Angeles. The company has begun mapping the city as it gears up to launch a fully autonomous ride-hailing service. These aren’t retrofitted Teslas; they’re bidirectional vehicles built specifically for autonomy, with no front, no back, and no driver seat.

      It’s Zoox’s first major push beyond Northern California and Las Vegas, and it's a signal that LA is being positioned as a proving ground for next-gen transportation. As the city preps for the 2028 Olympics, Zoox is hoping to help LA reimagine what mobility looks like without a human behind the wheel.

      👀 More on that here:Zoox’s LA Expansion

      💬 Instagram’s New “Blend” Feature

      Image Source: Instagram

      Instagram just announced “Blend,” a new feature that creates a private Reels feed curated for you and a friend based on your shared interests. It’s like a personalized explore page, but just for two. Think Spotify Blend, but with more memes and fewer breakup ballads.

      It’s currently in testing, but if rolled out broadly, Blend could change how creators build community and how content spreads in smaller, more intimate algorithmic circles.

      🔥 LACI Launches the LA Resilient Rebuilding Cup

      100 days after the Palisades and Eaton fires swept through parts of LA, the Los Angeles Cleantech Incubator (LACI) is launching a new initiative: the LA Resilient Rebuilding Cup. It’s a pitch competition aimed at finding startup solutions to help LA rebuild stronger and greener.

      Up to $100,000 in prizes and piloting funds are up for grabs. Finalists will pitch live on July 10 in Downtown LA, and selected winners will get the opportunity to bring their technologies to fire-affected communities. Focus areas include fire detection, renewable energy, air quality, mental health tools, resilient construction, and more.

      Startups have until May 30 to apply.
      📍 Apply here


      🤝 Venture Deals

      LA Companies

      • Parallel Systems, a Los Angeles-based company developing autonomous battery-electric railcars, has raised $38M in a Series B funding round led by Anthos Capital, with participation from Riot Ventures and others. The funding will support the commercialization of its technology, including the launch of its first commercial pilot in Georgia. This pilot, approved by the Federal Railroad Administration, will test self-propelled intermodal flatcars over a 160-mile stretch, aiming to offer a more efficient and sustainable alternative to short-haul trucking. Parallel Systems plans to use the funds to scale production of its Generation 3 vehicles and expand operations in the U.S. and Australia. - learn more

      LA Venture Funds

      • Bonfire Ventures led a $7.5M seed funding round for 1Fort, a New York-based startup that automates commercial insurance workflows for brokers using AI. Village Global and others participated in the round. 1Fort's platform streamlines the insurance process by automating tasks such as application completion, quote retrieval, and policy binding, helping brokers secure better coverage for clients more efficiently. The funds will be used to enhance the platform's AI capabilities, expand the team, and grow partnerships with carriers and brokers across the U.S. - learn more
      • Strong Ventures led an ₩800 million pre-Series A funding round for LunchLab, a Seoul-based B2B startup offering corporate lunch subscription services. LunchLab provides daily lunchbox deliveries and post-meal dish collection for companies, streamlining office meal logistics. The funds will be used to expand production capacity, enhance delivery operations across Seoul, and improve their proprietary ordering app. - learn more
      • CIV participated in Crux's recent $50M Series B funding round, supporting the company's mission to streamline financing for clean energy and manufacturing projects. Crux, based in New York, operates a capital markets platform that facilitates transactions such as transferable tax credits and debt financing, aiming to enhance liquidity and efficiency in the clean economy sector. The newly acquired funds will be utilized to expand Crux's network of market participants, enhance its software infrastructure, and scale its operations to meet the growing demand for clean energy financing solutions. - learn more
      • Finality Capital Partners participated in the $11M seed funding round for Optimum, a startup incubated at MIT and based in Cambridge, Massachusetts. Optimum is developing a decentralized memory layer for Web3, utilizing Random Linear Network Coding (RLNC) to enhance data storage and propagation across blockchain networks. The funds will be used to advance Optimum's technology and expand its team to address scalability challenges in decentralized systems. - learn more
      • TIME BioVentures participated in Phantom Neuro's recent $19M Series A funding round. Based in Austin, Texas, Phantom Neuro is developing a minimally invasive neural interface called Phantom X, designed to enable intuitive control of prosthetic limbs and robotic exoskeletons. The new funding will support the company's first human trials, preclinical testing, regulatory submissions, and expanded research and development for broader applications of its technology beyond prosthetic limbs. - learn more
      • Veridical Ventures participated in a $2M seed funding round for SlashExperts, a San Francisco-based B2B platform that connects prospective buyers with existing customers to facilitate authentic peer conversations. This approach aims to build trust and expedite sales processes. The funds will be used to enhance the platform's features, ensuring seamless and effective connections between buyers and users. - learn more
      • F4 Fund participated in Boby.ai's $1.25M seed funding round, supporting the Istanbul-based startup's mission to develop AI-powered mobile applications. Boby.ai, founded by Gökçe Nur Oğuz, Onur Olgun, and Berat Oğuz, focuses on creating user-friendly AI tools for end-users, such as their flagship app Mozart.ai, which enables users to generate personalized music using AI. The funding will be used to expand the team and develop new AI-based mobile products. - learn more
      • Riot Ventures and Impatient Ventures participated in Blue Water Autonomy's recent $14M seed funding round. Based in Boston, Massachusetts, Blue Water Autonomy is developing fully autonomous, unmanned ships designed to operate on the open ocean for extended periods. The company plans to use the funds to expand its engineering team, accelerate ship testing, and integrate various payloads onto its platform. - learn more
      • Aliavia Ventures led a $1M pre-seed funding round for InsightWise, an AI-powered platform based in Sydney, Australia, designed to streamline the consulting process by automating tasks such as proposal development and strategy creation. The funding will be used to enhance the platform's capabilities and support expansion into the U.S. market. - learn more

      LA Exits

      • Pex, a leading provider of digital rights technology, has been acquired by Vobile, a global leader in digital content protection and transaction services. This acquisition enhances Vobile's services for the music industry and strengthens its position as a global solution provider for digital audio content. - learn more

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