🚀 SpaceX gears up for another stellar year, active raises, and more
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Happy Friday Los Angeles! You made it through the first week of 2024!
🔦 Spotlight
Elon Musk may be a divisive (albeit entertaining) figure, but the continued success of SpaceX is pivotal for the aerospace industry in Los Angeles and more broadly around the world.
What happened with SpaceX in 2023?
- Elon Musk challenged Facebook founder, Mark Zuckerberg to a cage fight.
- SpaceX launched 96 successful missions with its Falcon series of rockets, a 57% increase over its previous annual record.
- SpaceX conducted two test flights of the largest and most powerful rocket ever built, Starship.
- Roughly two-thirds of SpaceX's launches in 2023 were devoted to building out Starlink, the company's satellite-internet megaconstellation.
- Isaacson’s Elon Musk biography was published in September including everything from Musk’s tumultuous relationship with his father to his work ethic and “demon mode”.
Moving forward what can we expect from SpaceX and its controversial founder? Continued innovation pushing the aerospace industry to new limits? Yes. More drama? Without a doubt.
Here is some of what is to come in 2024:
- SpaceX has already deployed direct-to-smartphone satellites in its first launch of 2024.
- Bill Gerstenmaier, SpaceX's vice president of build and flight reliability, announced that they are looking to increase flight rate to 144 flights during 2024.
- SpaceX will launch 5 astronaut missions in 2024 if everything goes to plan.
- Starlink will continue to build out the company’s satellite-internet megaconstellation in 2024 as they have permission to deploy double the current number of satellites in orbit.
- SpaceX is working to get other Starship vehicles ready, in keeping with the company's development philosophy, which prioritizes frequent test flights and rapid iteration.
- SpaceX is facing a complaint issued by a regional office of the National Labor Relations Board, for illegally firing employees in 2022 for circulating a letter critical of the company’s founder and chief executive, Elon Musk.
🤝 Venture Deals
Just Announced
Check back next week!
LA Exits
- CG Oncology, an Irvine, CA-based developer of immunotherapies for bladder cancer, filed for a $100M IPO. It plans to list on the Nasdaq (CGON) with Morgan Stanley as left lead underwriter, and has raised around $317m in VC funding. - learn more
- McNally Capital agreed to sell Advanced Micro Instruments, a Costa Mesa, CA-based maker of gas analyzers and sensing technologies, to Enpro (NYSE: NPO). - learn more
Actively Raising
- ReelCall, Inc., an entertainment technology company focused on powerful apps and platforms that help build and maintain the professional network of connections vital to career growth, is raising a $850K Pre-Seed Round. - learn more
- CZero, a hard-tech startup that is developing a technology for decarbonizing natural gas, is raising a $1.5M Seed Round. - learn more
- Couri, a technology startup addressing last-mile delivery issues, is raising a $450K Pre-Seed Round at a $2.2M post money valuation. - learn more
- Sweetie, a marketplace to help people plan date nights, is raising a $250K Angel Round. - learn more
- StartupStarter, an investment platform that provides real-time data and analytics on startups, is raising an $850K Angel Round. - learn more
If you’re a founder raising money in Los Angeles, give us a shout, and we’d love to include you in the newsletter!
đź“… LA Tech Calendar
Sunday, January 7th
- LA Coffee Club x Popl - "Networking Gone Wild" Mansion Party & Panel - Join 310 Coffee Club for a panel discussion and networking in Beverly Hills. The panel will be discussing "Networking Tactics to 2x your Potential" with founders & CEOs including Jason Alvarez-Cohen of Popl, Nathan Green of Kin, Rory Garton-Smith of Checkmate, Christina Galbato of Create Her Empire, and Casey Adams ofListener.com!
Wednesday, January 10th
- Startup Cafe: Networking with a Kick - Entrepreneurs, Startups, and Tech Enthusiasts join together to meet and connect with like-minded people, industry professionals and investors, while enjoying a nice cup of coffee in Venice at The KINN. This week’s interactive discussion about AI’s evolution in entertainment will feature Dr. Sam Khoze and Rachel Joy Victor.
- Venice Tech Happy Hour- Join Startup Coil and FoundrHaus Wednesday evening and enjoy the sunset from the rooftop, grab a bite overlooking Abbot Kinney, and mingle with other tech enthusiasts and entrepreneurs by the bar on the patio.
Have an awesome event coming up? Reach out to be featured on next week’s Newsletter!
📙 What We’re Reading
- Tune in to TenOneTen Partner Minnie Ingersoll’s conversation with Josh Porter, co-founder of FirstLook Partners. Josh explains why he thinks smaller funds make the best investment opportunities. He has seen hundreds of decks and digs in on how to evaluate funds and his unique approach to co-investments. - listen here
- Fisker will add dealerships to EV sales model. - learn more
- 4 Predictions for AI in 2024. - learn more
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
