Column: Five Reasons Why Space Matters (Hint: It's Not Tourism)

Krisztina 'Z' Holly
Krisztina "Z" Holly is a venture partner with Good Growth Capital and an advisor to leaders harnessing untapped innovation and novel business models for scale. Z is an MIT-trained engineer and serial tech entrepreneur who has been scouting, advising and investing in early-stage deep tech innovators for more than two decades.
Column: Five Reasons Why Space Matters (Hint: It's Not Tourism)

Last night, Rocket Lab made a big comeback from its failed launch last May. The Long Beach startup's Electron rocket launched a satellite for the U.S. Space Force, bringing their total to 105.


This capped a busy month for space, with Richard Branson and Jeff Bezos making their space dreams come true in the weeks prior. But with all the attention on the billionaire's exploits, are we missing the bigger picture?

The lack of coverage for Rocket Lab's rebound is just as telling as the fanfare around Virgin Galactic and Blue Origin's flights. Space tourism is distracting us from why we should actually care about space.

The Biggest Space News of the Year

While the public has debated the merits of this month's sub-orbital joyrides, the media missed the biggest aerospace event of the year a month ago, when Hawthorne-based SpaceX launched their Transporter‐2 mission on June 30.

What was so revolutionary about last month's launch? Nothing. And that's partly the point. Launches are becoming routine thanks to reusable launch vehicles.

But the Transporter‐2 mission was significant, because the rideshare mission launched 88 different satellites for customers into orbit, enabling innovation for scores of organizations.

The launch was the first for Santa Barbara startup Umbra, which has developed technology capable of seeing at night and through dense clouds; it has since been added to a joint $950M Air Force contract. The payload also included a competing satellite from Iceye, manufactured in Irvine, and two cubesats from San Diego-based General Atomics to test optical communications between satellites and from satellites to drones.

As a preeminent hub for aerospace, Southern California stands to gain greatly as launches become more frequent and the industry re-emerges from its post-'80s slumber. But other hubs are rapidly catching up.

As a venture capitalist and advisor to space—and other—startups, I've seen the sector evolve into something barely recognizable from the time I started my career as an engineer on the Space Shuttle Main Engine decades ago. Here are five reasons we should care.

1. Space Improves Our Quality of Life

If you looked at your phone this morning to get the weather forecast or check the route to your first meeting, you can thank satellites for the help.

"The blue dot on your phone is possible due to billions of dollars of space infrastructure," says Van Espahbodi, managing partner and co‐founder of Starburst, a company that catalyzes connections in the aerospace industry. "Sure it results in food delivery, dating apps and so many innovations in daily life, but none of this would be possible without the boundaries of exploration into space."

A SpaceX Starlink satellite

Space isn't just delivering convenience, it's democratizing access to data and technology, too.

"There are four billion people unconnected in this world," says Akash Systems CEO and founder Felix Ejeckam, who aims to expand global access to broadband. "Unless you're still going to run expensive fiber optic cables all over the Earth, you have no choice but to drop internet beams from space."

Programs like OneWeb and SpaceX's Starlink are bringing broadband connectivity to every corner of the globe, and Akash has developed advanced materials that will help reduce the cost and increase speeds of such Internet satellites, aiming to make these services more accessible and ubiquitous.

On the flip side—those times we claim we're "off the grid" from work for a week? Those days might be numbered.

2. Space Lets Us Understand Our World and Adapt to Climate Change

With all this talk of Mars missions as our "Plan B," you might ask, "Why not invest in the planet we have?" The aerospace industry is doing that, too.

Satellites are critical for sensing our world—tracking changes in infrastructure, weather and the environment over time. Satellites can measure the height of entire oceans within an accuracy of about an inch, and NASA's first TROPICS cubesat, launched on Transporter-2, will use microwaves to predict hurricanes.

"Our space endeavors have been instrumental to understanding the extent of climate change on Earth using satellite data from NASA and NOAA," says Jessica Rousset, Deputy director of the Arizona State University Interplanetary Initiative.

Government efforts are complemented by an ever‐expanding collection of private constellations with new capabilities. With these expanding capabilities we can sense new things—and sense them more often. Inexpensive infrared and hyperspectral imaging of crops can help farmers make better decisions and make agriculture more productive and resource‐ efficient. Soon, we'll even be able to see underground, thanks to companies like Lunasonde.

Granted, the carbon emissions from rocket launches can have their own negative impact on the environment. Fortunately, some launch services—including Blue Origin—are shifting to less‐ polluting fuels like hydrogen.

3. Space Enables Things We Could Never Do Before

The unique environment of space unlocks new opportunities in science and industry that would be worthy of science fiction movies.

Companies like Varda plan to set up self‐assembling, automated factories on orbit to manufacture things. Production of semiconductors, protein crystals, polymers, new drugs or optical fibers might benefit from the zero‐gravity, near‐vacuum conditions of space.

Some have proposed setting up 24/7 solar farms in space and beaming the energy down to Earth using lasers or microwaves.

And 21st‐century prospectors have set their sights skyward, with dreams of mining asteroids for precious materials. Last year, Japan hosted the first successful asteroid sample recovery mission, landing their loot in the Australian outback.

Not everyone believes space production will be practical anytime soon, but research in space has already led to discoveries in material science, plasma physics and biology.

The publicly‐funded International Space Station has been a productive early laboratory. Now, space infrastructure developer Axiom Space is working towards a 2024 launch of their initial components for the next generation commercial space station, partially funded by a $140M NASA grant.

4. Space Has Created a Burgeoning New Industry

Space has another very practical benefit; it has created an entirely new sector of the economy. Early governmental funding and discoveries has set the stage for an entirely new ecosystem of startups, suppliers and service companies sustained by private dollars. Morgan Stanley estimates that the global space industry—$350B as of 2016—will expand to over $1 trillion by 2040.

These companies are driving innovation, fueling economic growth, and creating new jobs in an industry where the United States still maintains a manufacturing edge.

Satellites in space means the need for infrastructure, being built now. Orbit Fab, the "Gas Stations in Space" company, launched the world's first satellite fuel tanker on Transporter‐2. They are building a materials supply chain to support a space economy that CEO Daniel Faber predicts will ultimately lead to permanent jobs in orbit. (Full disclosure: I'm an investor.)

"Fuel is now available for purchase and delivery in space," says Faber, "And we don't have to keep throwing away perfectly good satellites when they run out of fuel."

In the past NASA has justified their funding by pointing at thousands of technologies spun out of the space program—memory foam, cochlear implants, freeze dried food, CMOS image sensors and powdered lubricants — to name a few.

"But today, it's almost like the reverse is happening," says Jonathan Fentzke, the newest managing director of the Techstars Space accelerator. Space is driving demand for technology. "Unique challenges on orbit, like petabytes of image data streamed daily or the lack of heat dissipation in a vacuum, means the industry is always looking for new technologies and suppliers to solve their challenges." The June 30 launch of three SAR satellites alone will add 30-40 terabytes of data per day to the cloud.

Which is why his 2021 cohort includes startups like Pixspan, an image compression company with roots in Hollywood, and Thermexit, whose carbon nanomaterials were originally designed for supercomputers. These companies are finding a new thirst for their technologies thanks to the space industry.

5. Space Inspires Discovery

And finally, space still holds a special place by being the final frontier. While there aren't many places left on Earth that haven't appeared in a selfie, endless discoveries await us beyond our atmosphere.

The James Webb Space Telescope

Southern California has a long history of space adventures, including Chuck Yeager's historic sound barrier-busting flight in 1947. From NASA-JPL's Curiosity and Perseverance rovers to SpaceX's dreams of colonizing Mars, we continue to be the epicenter of big-idea space exploration

And our discoveries aren't just for adventure, either. By exploring beyond our planet, we can prepare for interplanetary human settlement, learn about the origins of life or better understand the beginning of the universe.

In El Segundo, Northrop Grumman is assembling the much awaited James Webb Space Telescope, soon headed a million miles away to "L2," a cold, stable perch past the moon. From there it will peer deep into space, providing views of faraway exoplanets and glimpses of light from 13.6 billion years ago, when the earliest stars and galaxies were just forming in the universe.

Our Future in Space is Inevitable

Things have changed for the better in aerospace over the last decade.

Back when I was a young engineer working at Rocketdyne, my work was funded by NASA. I remember how we depended on the largess of government dollars and lived by the whims of public sentiment. Risk and new ideas weren't readily accepted, and failure wasn't an option.

Today, aerospace is more iterative, entrepreneurial, and largely driven by commercial interests. "There's so much money and interest out there, and there is more of a culture of innovation," says Carrie Hernandez, formerly of SpaceX and now CEO and Co‐Founder of Rebel Space Technologies in Long Beach.

And private space investments have never been higher. "In 2021, private capital will invest more money in the space industry than NASA will spend on everything," NASA-JPL physicist and local angel investor Shanti Rao quipped recently on Twitter.

And with a few exceptions, we're exploring at relatively bargain‐basement prices. Reusable rockets, space servicing, robotics and other technologies make space more affordable than ever.

"In the 60s, we went at great expense—often around 4% of GDP. But today, we're doing twenty times more at one‐tenth the price," says a colleague who asked to remain anonymous because he doesn't have permission to speak on behalf of his government employer. "And this time we're not just stopping by to say hello, we're setting up a permanent base."

Private industry is taking the lead, but Southern California needs to keep its eye on the ball. These days space companies can be almost anywhere, and Colorado, Texas and Northern California have become major hubs of space innovation, too.

NASA's Apollo and Space Shuttle programs were as much a PR effort as they were science expeditions. And those educational efforts have paid dividends by inspiring more public funding for research and development and a whole generation of kids to pursue science and math.

Will Blue Origin and Virgin Galactic succeed at filling this inspirational role? I hope so. But it's time for us to celebrate and support all the entrepreneurs exploring the boundaries of space.

Because it turns out, you don't need to be a billionaire to pursue your space dreams. And with or without public support, the space industry is now inevitable.

https://www.linkedin.com/in/krisztinaholly/
Not Every Robot Wants Your Job

🔦 Spotlight

Happy Friday Los Angeles,

When people talk about the robotics boom, the conversation usually turns to warehouses, defense, humanoids or automation.

But one Los Angeles company is building a very different kind of robot.

Tombot, a local companion robotics startup, closed a $7 million Series A3 round with participation from Caduceus Capital Partners, Wavemaker 360, the Lutheran Foundation for Long Term Living and Florida Community Health Network to scale production of Jennie, its robotic companion dog. The product is designed for older adults, people with dementia, children with autism and others who may benefit from the emotional comfort of a pet but cannot safely or practically care for a real animal.

It is a quieter kind of robotics story, but a revealing one.

The most common vision of the robotics future is built around productivity: robots that move boxes, patrol borders, assemble parts or perform repetitive tasks. Tombot is aiming at something more personal. Its bet is that robots will not only help people work faster, but also help them feel less alone.

That makes the company part of a broader shift in robotics, where the question is not just “What can a machine do?” but “What role can it play in someone’s daily life?”

The need is real. Aging populations, caregiver shortages and rising demand for dementia care are putting pressure on families and health systems. At the same time, many people who would benefit from animal companionship cannot manage feeding, walking, grooming, vet bills or the safety risks that come with a live pet.

Image Source: Tombot

Tombot’s answer is a robotic dog that behaves like a companion, not a gadget. Jennie is designed to respond to touch, voice and interaction, giving users some of the emotional benefits of pet ownership without the responsibilities of caring for a living animal.

Southern California’s robotics scene is often viewed through the lens of defense, drones, aerospace and manufacturing. Those categories are important. But LA also has deep advantages in design, storytelling, entertainment, consumer products and human-centered technology. A companion robot sits at the intersection of all of those things.

It has to work technically. But it also has to feel right. The movement, expression, texture and emotional cues matter. This is where robotics starts to look less like pure engineering and more like product design, character development and trust-building.

The broader robotics market is still difficult. Hardware is expensive. Manufacturing is hard. Consumer expectations are high. And companion robots have historically been a tricky category, with plenty of hype and uneven adoption.

But Tombot’s traction suggests there may be real demand for robots that solve emotional and caregiving problems, not just operational ones. The company says it has built a large waitlist as it moves toward commercialization, giving it a chance to test whether companion robotics can move from novelty to necessity.

The bigger takeaway is that LA’s robotics future may not fit into one box.

Some companies will build for the battlefield. Some will build for factories. Some will build for space. And some, like Tombot, will build for the living room, the care facility and the family trying to support someone they love.

The robotics boom is often framed as a story about replacing human labor.

This one is about supporting human care.

More from this week’s LA startup and venture scene below.

🤝 Venture Deals

    LA Companies

    • Cosm received a $100M strategic investment from Sony Pictures Entertainment, with Sony taking a minority stake as the lead investor in Cosm’s Series C financing round. Cosm operates immersive “Shared Reality” venues that use dome-shaped LED screens for live sports, concerts and entertainment experiences, and the funding will support venue expansion and new technology initiatives across sports and entertainment. Sony Pictures CEO Ravi Ahuja will join Cosm’s board as part of the deal. - learn more
    • Pasadena-based Sophia Space finalized a $7M SAFE financing round, bringing its total funding to $22M. The round included participation from EverGreen, The NVIDIA Alumni Investment Network, SparkLabs Group and other strategic investors, with the new capital going toward product development, engineering and commercial hiring, partnerships and deployment across government, commercial and international markets. Sophia Space is building AI-powered infrastructure and intelligent systems for the space economy, including autonomous computing capabilities for orbital and terrestrial environments. - learn more

    LA Venture Funds
    • Sound Ventures participated in Warp’s $60M Series B, which was led by Battery Ventures with additional backing from Peak XV and Y Combinator. Warp is building an AI-native employee management platform for payroll, benefits, compliance, onboarding, offboarding and workforce operations, with the new funding bringing its total raised to $85M. The company says the capital will support deeper AI agents, expanded tax and compliance infrastructure, a broader product suite and more customer support. - learn more
    • Mucker Capital participated in Zave’s ₹4.7 crore bridge round, which was led by Inflection Point Ventures. Zave is building an AI-native shopping assistant that helps consumers discover products, compare prices and make purchase decisions across Amazon, Flipkart and more than 5,000 brand websites. The company plans to use the funding to strengthen its AI product, improve platform reliability and scalability, and support continued user growth. - learn more
    • B Capital co-led Seltz’s $12.5M seed round alongside Speedinvest, with participation from Future Present, Italian Founders Fund, Arc Investors, United Ventures, Vento Ventures, Mango Capital, 2100 Ventures and Future Back Ventures. Seltz is building web search infrastructure for AI agents, designed for the way agents query the internet: running long, parallel searches, pulling full documents and accessing live web context. The company plans to use the funding to scale its index to tens of billions of documents and build out engineering, sales and marketing. - learn more
    • Clocktower Technology Ventures participated in Caplight’s $16M Series A, which was led by BlackRock and Fin Capital, with strategic participation from UBS Investment Bank. San Francisco-based Caplight is building data, trading and workflow infrastructure for private markets, including secondary market pricing, institutional trading, company and investor intelligence, and AI-powered venture deal sourcing. The company says the new funding will help expand its role in rebuilding the rails for venture capital as private markets become larger, more liquid and more complex. - learn more
    • MaC Venture Capital participated in Coval’s $28M Series A, which was led by Norwest with backing from Base10 Partners, Twilio Ventures, Y Combinator and others. San Francisco-based Coval builds simulation, evaluation and monitoring infrastructure for voice and chat AI agents, helping enterprises test and improve autonomous agents before and after deployment. The company works with more than 60 organizations, including Zoom and Deepgram. - learn more
    • B Capital participated in Cadence’s $100M Series C, which was led by Spark Capital with additional backing from Thrive Capital, General Catalyst, Coatue, Corewell Health Ventures, Memorial Hermann and Duke Health. Cadence is a clinical AI company automating chronic care for older adults through supervised AI agents that monitor patient vitals, surface risks and coordinate care between visits. The company now works with more than 20 health systems, treats over 100,000 active patients and will use the funding to expand across new health systems, advance its AI agents and grow value-based care models. - learn more
    • WndrCo participated in Partly’s $50M Series B, which was led by DST Global Partners. Partly is building AI-powered infrastructure for the auto repair industry, helping repairers, insurers and parts suppliers identify and source the right vehicle parts as cars become more complex. The new funding will support Partly’s push to bring frontier AI into repair workflows and reduce friction across the global replacement parts market. - learn more
    • Döpfner Capital participated in Stark Defence’s €500M funding round, which was backed by major investors including Sequoia Capital and Founders Fund and valued the German drone company at roughly €3.2B to €3.5B. Stark develops unmanned defense systems, including loitering munitions, and plans to use the funding to expand R&D and manufacturing capacity across Europe. The raise comes as European defense tech continues attracting significant investor interest amid rising military spending and demand for autonomous systems. - learn more
    • Smash Capital led Redo’s $81M Series B, with participation from existing investors Pelion Venture Partners and Cervin Ventures, valuing the commerce technology company at a reported $1.25B. Draper, Utah-based Redo started in returns and exchanges but has expanded into a broader post-purchase and AI-powered commerce platform covering order tracking, package protection, fulfillment, customer service, marketing and shopper engagement. The funding will support product development, AI initiatives and international expansion. - learn more
    • Wavemaker 360 Health participated in ChemT Biotechnology’s $4M seed round, which was led by Wavemaker Ventures with participation from co-investment partner SEEDS. Singapore-based ChemT has raised $5M total in 18 months and is building AI infrastructure for biomanufacturing, including its CelMo virtual cell platform, which helps manufacturers model and guide cell behavior to improve biologics production, scalability and cost. The funding will support expansion of ChemT’s AI and experimental infrastructure, advancement of its molecular products toward GMP standards and broader commercial partnerships. - learn more

    LA Exits

    • The New Bar, a Venice-born non-alcoholic beverage discovery platform, was acquired by The Zero Proof. The deal combines The New Bar’s hospitality, live events and cultural partnerships with The Zero Proof’s national e-commerce, owned brand portfolio and retail distribution platform. The New Bar’s leadership will join The Zero Proof, with founder Brianda Gonzalez becoming Vice President of Strategy and Partnerships. - learn more

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      Snap May Have Finally Found AR’s Moment

      🔦 Spotlight

      Hello Los Angeles,

      Snap has spent years trying to make augmented reality feel less like a demo and more like a daily habit. This week, it introduced its latest attempt.

      At Augmented World Expo, Santa Monica-based Snap unveiled SPECS, its new standalone augmented reality glasses. The device is designed to bring AI assistance, work tools, entertainment and shared experiences into the physical world without requiring a phone, puck or tether.

      The pitch is not simply “screens on your face.” Snap is trying to position SPECS as a different kind of computer: one that can understand what you are looking at, respond to your surroundings and make AI useful in the moment. That could mean directions placed where you need them, a virtual workspace that travels with you or AI assistance that sees the same context you do.

      The developer piece may be just as important as the hardware. Snap says developers have already built hundreds of Lenses for SPECS, and the company is rolling out new tools inside Lens Studio, including agentic development support through Claude Code, Codex and Cursor, a new Native Development Kit and a spatial benchmark for AR experiences.

      That matters because AR has always had a chicken-and-egg problem: impressive demos, but not enough everyday reasons to wear the device. Snap is trying to solve that by building not only the glasses, but the software, developer tools, operating system, computer vision stack and creative ecosystem around them.

      Specs

      SPECS are available for pre-order at $2,195, with a $200 refundable deposit, and are expected to ship this fall in the U.S., U.K. and France.

      For Snap, the bigger question is whether augmented reality can finally move from developer demos and futuristic keynote moments into something people actually want to use. SPECS are its latest answer, but the real test will be whether developers can build experiences useful enough to make the glasses feel less like a gadget and more like a habit.

      More from this week’s LA startup and venture scene below.

      🤝 Venture Deals

        LA Companies

        • Critical Energy raised $19M in seed funding co-led by Upfront Ventures and Susa Ventures, and also secured $3M in venture debt from Silicon Valley Bank, bringing its total early capital to $22M. Founded by SpaceX alum Spencer Jackson, the company is adapting rocket-engine-style turbomachinery for modular geothermal power plants and plans to use the funding to build its first 2.5 MW project. - learn more

        LA Venture Funds
        • Group 11 co-led Dream’s $260M funding round alongside Bicycle Capital, with participation from Antler, Bain Capital Ventures, Tru Arrow Partners and other investors. Dream builds sovereign AI and cyber defense technology for governments and critical infrastructure operators, with the new funding valuing the company at $3B and bringing total funding to $412M. The company plans to use the capital to expand its national cyber defense and AI platforms across Europe, the Middle East, Asia and the Americas. - learn more
        • Undeterred Ventures participated in Portal Biotechnologies’ oversubscribed $9M financing round, which was led by NFX with backing from existing investors including IA Ventures, Pear VC, IKJ Capital and TechU Ventures. Watertown-based Portal is building cell engineering infrastructure for drug discovery, AI data generation and cell therapy manufacturing, using its mechanoporation platform to deliver RNA, gene editors and other molecules into hard-to-transfect cells. The company also expanded its DARPA work through an Embedded Entrepreneur Initiative contract tied to point-of-care cell therapy manufacturing and says its platform has been adopted by more than 100 customer sites. - learn more
        • Clocktower Ventures participated in Trace Finance’s $32M Series A, which was led by CoinFund with backing from Coinbase Ventures, Haun Ventures, Jump Crypto, Valor Capital, Paxos, HOF Capital and others. Trace Finance is building regulated banking and stablecoin infrastructure for cross-border payments across Brazil, the U.S. and emerging markets, combining local payment rails, FX, compliance operations and stablecoin settlement. The company has processed more than $10B in institutional cross-border volume and will use the funding to expand product capabilities and grow across LatAm, APAC and other priority markets. - learn more
        • Alexandria Venture Investments participated in Vedana Therapeutics’ $46M Series A, which was co-led by Westlake BioPartners and Canaan Partners, with additional participation from Dawn Biopharma. Seattle-based Vedana is developing next-generation preventive migraine therapies, including antibody-based treatments targeting PACAP and CGRP pathways, with the funding going toward advancing its internally discovered portfolio of subcutaneously delivered antibodies. - learn more
        • Fulcrum Capital participated in HighGround’s $6.5M seed round, which was led by Next Frontier Capital with additional backing from Tandem Ventures and Context Ventures. HighGround is building an intelligence platform for defense and aerospace capital markets, helping investors, operators and advisors analyze government spending, procurement signals, deal risks and market demand. The funding will support expanded data coverage and deeper analytical models for defense-focused investment and business development workflows. - learn more
        • Bonfire Ventures participated in Vali Health’s $6M funding round, alongside Supernode, Comma Capital and healthcare industry veteran Jacquelyn Kung. San Francisco-based Vali Health is building responsible AI infrastructure for healthcare, helping providers and health systems evaluate, monitor and safely deploy AI tools across clinical and administrative workflows. - learn more
        • Clocktower Ventures participated in Karta’s $15M Series A, which was led by Galaxy Ventures, with additional backing from Canary and Illuminate Financial. Miami-based Karta is building a WhatsApp-first premium U.S. credit card for non-U.S. clients, helping global travelers with U.S. bank or brokerage accounts access dollar-denominated spending power without needing a traditional U.S. credit history. The company also secured a $125M credit facility from Community Investment Management, bringing its total new financing to $140M. - learn more
        • Alexandria Venture Investments participated in Triveni Bio’s $65M Series C, which was co-led by Ascenta Capital and Janus Henderson Investors, with significant participation from Deep Track Capital. Watertown-based Triveni is developing antibody treatments for immunological and inflammatory disorders, with the funding going toward expanding clinical development of TRIV-573, its bispecific antibody targeting atopic dermatitis, including a larger Phase 2 proof-of-concept study expected to begin later this year. - learn more
        • WndrCo participated in XDOF’s $70M funding round, alongside investors including Thrive Capital, Spark Capital, a16z and Lux Capital. XDOF is building robotics data infrastructure for AI labs, handling the unglamorous but critical work of collecting, labeling and organizing real-world robot training data. The company says it already works with about 20 customers, including several frontier AI labs. - learn more
        • Fika Ventures participated in SubBase’s $7M Series A, which was led by FINTOP and brings the company’s total funding to more than $15M. Ft. Lauderdale-based SubBase is a construction materials procurement platform that helps specialty trade contractors and self-performing general contractors manage pricing requests, orders, supplier communication, delivery tracking and invoice reconciliation in one system. The company plans to use the funding to expand product and engineering, deepen supplier integrations and build more AI-driven workflow and intelligence features. - learn more
        • Upfront Ventures participated in Bland’s $50M Series C, which was led by Dell Technologies Capital with additional participation from HubSpot Ventures, Archerman Capital and Tribeca Venture Partners. San Francisco-based Bland builds voice AI agents for complex phone, SMS and chat conversations, with a focus on longer, high-stakes workflows in regulated industries like healthcare and financial services. The round brings Bland’s total funding to more than $100M. - learn more
        • Impatient Ventures participated in Traysar’s $25M seed round, which was led by Silent Ventures and included backing from Lux Capital, Ora Global, NeverLift VC, Mana, New Vista, Entree Capital and angel investors. Traysar emerged from stealth at the 2026 Reindustrialize Summit as a subterranean defense tech company building autonomous “subterra” platforms designed to detect, penetrate and secure underground environments. The company says its technology is aimed at addressing underground military facilities and other hard-to-reach subsurface domains. - learn more
        • MaC Venture Capital participated in Swsh’s $4M seed round, which was led by Game Changers Ventures with additional backing from Stellation Capital, SignalFire and angel investors including Scooter Braun and Guy Oseary. Swsh is building an AI-powered fan engagement platform for live events, helping artists, teams and brands organize fan-captured photos and videos while turning that content into audience insights and first-party engagement data. - learn more
        • B Capital led SolarSquare Energy’s $53M Series C, backing the Mumbai-based residential rooftop solar company as investor interest grows in India’s home solar market. The round valued SolarSquare at roughly $450M–$500M and included participation from existing investors including Lightspeed, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital. SolarSquare plans to use the funding to expand into new cities, strengthen its technology platform and scale operations. - learn more

        LA Exits

        • Mavida Health, a digital mental health company focused on women and families, was acquired by WPS Health Solutions. The deal expands WPS’ digital health capabilities with Mavida’s virtual therapy, medication management and specialized mental health support across fertility, pregnancy, postpartum, loss, parenting and menopause. Financial terms were not disclosed. - learn more
        • Vica, an AI video startup focused on helping small businesses create cinematic-quality marketing content, was acquired by Addi. The acquisition brings Vica’s AI video capabilities into Addi’s growth platform for Main Street businesses, which combines financial intelligence with marketing tools to help small businesses attract and retain customers. - learn more
        • GateMaker, a female-founded influencer marketing agency, was added to Residence, the Los Angeles-based global network of independent creative companies. The deal brings GateMaker’s creator economy expertise across paid, earned and owned influencer relationships into Residence’s broader creative network, which also includes companies like BUCK, OK COOL, Giant Ant, Part & Sum and Wild. - learn more
        • Gavel, an AI-native legal tech company used by legal professionals to draft, review and automate legal work in Microsoft Word and on the web, was acquired by Relativity. The deal will bring Gavel’s drafting, redlining and document automation tools into Relativity’s legal data intelligence platform, allowing work product created in RelativityOne and Relativity aiR to be edited in Microsoft Word while syncing back to the underlying matter data. Financial terms were not disclosed. - learn more

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          Evotrex Raises $30M to Electrify the RV
          Evotrex

          🔦 Spotlight

          Hello Los Angeles,

          The RV has not changed much in decades: tow it, park it, plug it in and hope the campground has enough power. Evotrex is betting the next version should act less like a trailer and more like a mobile energy system.

          Los Angeles-based Evotrex raised a $30M Series A, bringing its total funding to $46M, to accelerate production of its Evotrex-PG5 electric RV trailer. The round included participation from GSR United Capital, Forebright Concerto Capital, Unique Capital, Pegasus Capital, TTGG Ventures, ChunJia Capital, Thundersoft and other investors.

          The PG5 is designed as both an RV and a mobile power platform, combining onboard power generation, energy storage and intelligent energy management in one off-grid trailer. In other words, Evotrex is not just selling a place to sleep outdoors. It is building a rolling power system for camping, remote work, events, mobile businesses and backup energy.

          The timing lines up with a few bigger trends at once: EV adoption, off-grid travel, distributed energy and consumers treating vehicles as extensions of the home. That puts Evotrex at the intersection of several hard categories: vehicles, energy storage, consumer hardware and outdoor lifestyle.

          The company plans to use the funding for final product development, automotive-standard testing and validation, and production preparation ahead of planned customer deliveries in 2027. Starting in Q4 2026, Evotrex expects to begin testing across towing, range, braking, lateral stability, structural durability, water exposure and regulatory compliance.

          That testing phase matters. It is one thing to create a sleek prototype. It is another to build something that can be towed, powered, lived in and trusted far from a charging station or service center.

          Evotrex says roughly 90% of its order book is for the fully loaded Premium trim, priced at $159,990, which it plans to prioritize for initial deliveries. That suggests early buyers are treating the PG5 less like a basic camper and more like a high-end mobile living product.

          Now Evotrex has to prove the hardest thing in hardware: that the product works as well on the road as it does in the renderings.

          More from this week’s LA startup and venture scene below.

          🤝 Venture Deals

            LA Companies

            • Poetic raised a $50M Series A led by Kleiner Perkins to scale its enterprise AI automation platform. Formerly known as Forge, the company builds software that “learns like AI but runs like code,” helping automate complex, high-stakes business processes across areas like financial services, insurance, healthcare and other regulated industries. The funding will support product development, hiring and broader customer deployment. - learn more
            • Leaf Agriculture raised a $13M Series B led by Leaps by Bayer and a group of industry strategic investors. The agtech company helps agriculture businesses clean, structure and manage farm data from machinery, soil labs, weather stations, satellites and farm management systems so they can build AI tools and analytics on top of it. The funding will support Leaf’s push to become a core data infrastructure layer for agribusiness.. - learn more

            LA Venture Funds
            • UP.Partners participated in Coram AI’s $35M Series B, which was co-led by Ansa Capital and Battery Ventures, with additional backing from 8VC and Mosaic Ventures. Sunnyvale-based Coram AI turns existing security infrastructure, including cameras, badge readers, visitor logs and emergency systems, into an AI-powered physical security platform that helps organizations detect incidents, investigate footage and respond faster. The company has now raised $66M total and is deployed across more than 1,500 sites in North America. - learn more
            • Smash Capital participated in Digital Asset’s $355M funding round, which was led by a16z crypto and included backing from major financial institutions and investors including ADIA, Apollo Funds, BNP Paribas, Citadel Securities, Coinbase Ventures, HSBC, Polychain, SoFi, Tradeweb and others. Digital Asset is the creator of Canton, a public layer-one blockchain built for regulated financial markets, and will use the funding to expand Canton’s ecosystem across tokenization, settlement, payments, collateral mobility and other institutional finance workflows. - learn more
            • Alexandria Venture Investments participated in SonoThera’s oversubscribed $125M Series B, which was led by Vida Ventures and included backing from ARK Invest, CureDuchenne Ventures, Leaps by Bayer, Otsuka Pharmaceutical, UCB Ventures, Vivo Capital, ARCH Venture Partners, RA Capital and others. SonoThera is developing ultrasound-mediated, nonviral genetic medicines designed to deliver DNA and RNA payloads without traditional viral vectors, with the funding going toward advancing its lead programs in Duchenne muscular dystrophy and autosomal dominant polycystic kidney disease into the clinic. - learn more
            • Wavemaker 360 participated in Lium’s $5.5M seed round, alongside SJF Ventures, Reach Capital and GC&H Investments. Formerly known as Astromind, Dallas-based Lium is building an “agentic harness” that helps large language models work with complex scientific and industrial datasets, including satellite imagery, seismic surveys and electromagnetic spectrum analysis. The platform is designed to make messy, non-text data easier for scientists, engineers and industrial teams to query and analyze with AI. - learn more
            • Riot Ventures participated in Endurance Energy’s $54M Series A, which was led by Founders Fund with additional backing from Ascend, Construct Capital, Felicis Ventures, First Round Capital, Point72 Ventures and Voyager Ventures. Founded by former SpaceX engineer Andrew Redd, Endurance is developing subsea geothermal power plants designed to tap volcanic heat deep in the ocean and provide 24/7 clean energy for rising demand from AI data centers, EVs and heavy industry. The funding will support development of its power plant plans as the company grows its team. - learn more
            • Wavemaker 360 participated in 01Health’s $15M Series A, which was led by Gresham House Ventures, with follow-on backing from Balderton Capital and Eka Ventures. 01Health is building a healthtech platform that brings specialist care into local clinics through clinical protocols, specialist oversight, AI tools, patient communication and monitoring systems, with the funding supporting its UK rollout and U.S. market expansion. - learn more
            • Calibrate Ventures led Flux’s $5M funding round, with participation from existing investors True Ventures and Glasswing Ventures. Boston-based Flux is building a code-first engineering intelligence platform that analyzes code changes to give engineering leaders visibility into quality, security, technical debt and team dynamics as AI reshapes software development. The funding will support product development and go-to-market growth. - learn more
            • Village Global led MNX’s $6.4M pre-seed round, with participation from Finality Capital Partners, Cambrian, North Island Ventures, Relay Digital and angel investors. MNX is building a MegaETH-based decentralized futures exchange for the AI economy, with planned markets tied to AI company valuations, GPU compute prices, electricity costs, AI benchmarks and prediction markets. The company was valued at $40M in the round and plans to launch mainnet this summer. - learn more
            • Mantis Venture Capital participated in Sandstone’s $30M Series A, which was led by Lightspeed Venture Partners with additional backing from SV Angel, Operator Partners, Kearny Jackson, Daybreak Ventures and Litquidity Ventures. Sandstone is building AI-powered workflow automation for in-house legal teams, helping companies manage legal requests from tools like Slack, email and Jira while automating intake, triage, drafting, review and analysis. The round brings Sandstone’s total funding to $40M. - learn more
            • WndrCo participated in Idilio’s $5.5M seed round, alongside a16z Speedrun, Goodwater Capital, Precursor Ventures and other investors. Idilio is building an AI-powered microdrama platform for Spanish- and Portuguese-speaking audiences, producing short-form drama series at the intersection of telenovelas and vertical mobile video. The funding will support platform development, expanded content offerings and the launch of its Idilio Creators program. - learn more
            • Mantis Venture Capital and Village Global participated in Pogo’s $32M in funding to date, alongside investors including Josh Buckley’s Buckley Ventures, 20VC, Lenny Rachitsky and the founders of Honey. Pogo is launching an AI-powered consumer research platform built around purchase-verified buyers, helping brands run surveys, AI-moderated interviews and behavioral research using verified transaction, receipt, app usage and location data from its opted-in consumer network. The company says its app has more than 3M users and visibility into more than $470B in transaction value. - learn more
            • Mantis Venture Capital participated in EDGE Markets’ $29.2M Series A, which was led by CoinFund with backing from Indicator Ventures, Stepstone Group and Bullpen Capital. EDGE Markets builds financial infrastructure for gaming, crypto and prediction markets, and will use the funding to launch EDGE Pro, a banking platform for market makers, and EDGE Connect, a purpose-built payment rail for regulated gaming and prediction market operators. - learn more
            • MTech Capital participated in Finovox’s €8.2M Series A, which was led by TX Ventures and included backing from Auriga Cyber Ventures II, Start Ventures, Force Over Mass and FDJ UNITED Ventures. Paris-based Finovox builds AI-powered document fraud detection software for financial services, insurance and other regulated industries, and will use the funding to expand across Europe, strengthen its technology and grow its team. The company says it now serves more than 70 organizations across 15 countries. - learn more

            LA Exits

            • RiskFront AI was acquired by K2 Integrity, bringing its agentic AI platform for financial crime compliance and risk operations into K2’s broader risk, compliance, investigations and monitoring business. RiskFront AI’s platform, Airos, automates research, transaction analysis and document processing to reduce manual work across financial crime and compliance workflows. Financial terms were not disclosed. - learn more
            • LevPro was acquired by Octus, bringing its front-office software for CLO, broadly syndicated loan and private credit managers into Octus’ credit intelligence platform. LevPro will join Sky Road to help create an integrated AI-powered platform spanning market intelligence, investment analytics, trade workflows, portfolio management and monitoring. Financial terms were not disclosed. - learn more

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