This Week in ‘Raises’: Surf Air Mobility Lands $450M, Skydance Media Collects $400M

Decerry Donato

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.

This Week in ‘Raises’: Surf Air Mobility Lands $450M, Skydance Media Collects $400M
Modified by Joshua Letona

Hawthorne-based Surf Air Mobility inked a deal with Jetstream Aviation Capital that committed to purchase up to 250 hybrid and fully-electric powertrains, while Santa Monica-based Skydance Media landed fresh funding to accelerate growth in sports, interactive entertainment and animation.


Venture Capital

Surf Air Mobility, a Hawthorne-based electric aviation and air travel company, raised $450 million in financing from Jetstream Aviation Capital.

Skydance Media, a Santa Monica-based provider of film production services raised a $400 million strategic investment round led by KKR.

Santa Cruz-based electric aircraft startup Joby Aviation raised $60 million in fresh funding from Delta Airlines.

Pleno, a San Diego-based developer of a multi-omic instrument platform designed for biological target detection for clinical testing and biomedical research, raised a $40 million series A funding round led by Deerfield Management.

West Hollywood-based financial wellness and benefits platform Northstar raised $24.4 million in new funding led by GGV Capital.

VUZ, a Los Angeles and Dubai-based social app that offers virtual reality-based entertainment experiences, raised $20 million in series B investment. Investors include Caruso Ventures, Vision VC Fund, e& capital, Dubai Future District Fund, Webit Investment Network, SRMG, Elbert Capital, Yasta Partners, Faith Capital and Panthera Capital.

Newport Beach-based automated artificial intelligence and machine learning platform NumberOne AI raised $13 million in funding from Art Coviello, Aidan Kehoe, Alex Weiss, Ray ZadjNmool, Drumwright Investments, B5 Capital and Miramar Digital Ventures.

Arro, a Los Angeles-based fintech company, raised a $10 million seed funding round led by Crosslink Capital.

Santa Monica-based digital entertainment studio Muus Collective raised a $5 million seed round led by Griffin Gaming Partners.

Talespin, a Culver City-based virtual learning platform, raised new funding from the WestRiver Group (WRG), but the financial details of the investment were not disclosed.

Funds

Hackman Capital Partners, a Culver City-based real estate investment and operating company, raised a $1.4 billion fund.

FP Solutions, a Los Angeles-based venture capital firm raised $3 million in seed funding to develop the hardware ecosystem in Los Angeles.

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).

🤫 The Secret to Staying Fit at Your Desk: 6 Essential Under-Desk Exercise Machines

Health experts are sounding the alarm: our sedentary jobs are slowly killing us, yet we can't abandon our desks if we want to keep the lights on. It feels like we're caught between a rock and a hard place. Enter under-desk exercise machines – the overlooked heroes (albeit kind of goofy looking) of the modern workspace. These devices let tech professionals stay active, enhance their health, and increase their productivity, all without stepping away from their screens. Here are 6 fantastic options that will enhance the way you work and workout simultaneously.

DeskCycle Under Desk Bike Pedal Exerciser

This bike has nearly ten thousand five-star reviews on amazon. It works with nearly any desk/chair setup. It is quiet, sturdy and allows up to 40 pounds of resistance. If you are looking for an under-desk bike this is a fantastic option.

Type: Under-Desk Bike

Price: $180 - $200


Sunny Health & Fitness Dual Function Under Desk Pedal Exerciser

This under-desk bike is extremely quiet due to the magnetic resistance making it an ideal option if you work in a shared space. It doesn’t slip, has eight levels of resistance, and the option to work legs and arms. It’s about half the price of the DeskCycle bike making it a solid mid-range option for those looking to increase their daily activity.

Type: Under-Desk Bike

Price: $100 - $110


Sunny Health & Fitness Sitting Under Desk Elliptical

This under-desk elliptical comes in multiple colors if you really want to underscore that you are a quirky individual, in case an under-desk elliptical isn’t enough. This model is a bit heavy (very sturdy), has eight different resistance levels, and has more than nine thousand 5-star reviews.

Type: Under-Desk Elliptical

Price: $120 - $230


DeskCycle Ellipse Leg Exerciser

This under-desk elliptical is another great option. It is a bit pricey but it’s quiet, well-made and has eight resistance levels. It also syncs with your apple watch or fitbit which is a very large perk for those office-wide “step” challenges. Get ready to win.

Type: Under-Desk Elliptical

Price: $220 - $230


Daeyegim Quiet LED Remote Treadmill

If you have a standing desk and are looking to walk and work this is a fantastic option. This walking-only treadmill allows you to walk between 0.5 to 5 mph (or jog unless you have the stride length of an NBA forward). It is very quiet, which is perfect if you want to use it near others or during a meeting. You can’t change the incline or fold it in half but it is great for simply getting in some extra steps during the work day.

Type: Under-Desk Treadmill

Price: $220 - $230


Sunny Health & Fitness Foldable Manual Treadmill

This under-desk treadmill isn’t the most premium model but it is affordable and has an impressive array of features. It is a manual treadmill meaning it doesn’t need to be plugged in; it is foldable and offers an incline up to 13%. I personally can’t imagine working and walking up a 13% incline but if that sounds like your cup of tea, then I truly respect the hustle.

Type: Under-Desk Treadmill

Price: $150 - $200




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🤠Musk Picks Texas and 🔥Tinder AI Picks Your Profile Pictures

🔦 Spotlight

Tinder is altering dating profile creation with its new AI-powered Photo Selector feature, designed to help users choose their most appealing dating profile pictures. This innovative tool employs facial recognition technology to curate a set of up to 10 photos from the user's device, streamlining the often time-consuming process of profile setup. To use the feature, users simply take a selfie within the Tinder app and grant access to their camera roll. The AI then analyzes the photos based on factors like lighting and composition, drawing from Tinder's research on what makes an effective profile picture.

The selection process occurs entirely on the user's device, ensuring privacy and data security. Tinder doesn't collect or store any biometric data or photos beyond those chosen for the profile, and the facial recognition data is deleted once the user exits the feature. This new tool addresses a common pain point for users, as Tinder's research shows that young singles typically spend about 25 to 33 minutes selecting a profile picture. By automating this process, Tinder aims to reduce profile creation time and allow users to focus more on making meaningful connections.

In wholly unrelated news, Elon Musk has announced plans to relocate the headquarters of X (formerly Twitter) and SpaceX from California to Texas. SpaceX will move from Hawthorne to Starbase, while X will shift from San Francisco to Austin. Musk cited concerns about aggressive drug users near X's current headquarters and a new California law regarding gender identity notification in schools as reasons for the move. This decision follows Musk's previous relocation of Tesla's headquarters to Texas in 2021.

🤝 Venture Deals

LA Companies

LA Venture Funds

LA Exits

  • Penguin Random House agreed to acquire comic book publisher Boom! Studios from backers like Walt Disney Co. - learn more

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Top LA Accelerators that Entrepreneurs Should Know About

Los Angeles, has a thriving startup ecosystem with numerous accelerators, incubators, and programs designed to support and nurture new businesses. These programs provide a range of services, including funding, mentorship, workspace, networking opportunities, and strategic guidance to help entrepreneurs develop their ideas and scale their companies.


Techstars Los Angeles

Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of LA.

Location: Culver City

Type of Funding: Pre-seed, early stage

Focus: Industry Agnostic

Notable Past Companies: StokedPlastic, Zeno Power


Grid110

Grid110 offers no-cost, no-equity programs for entrepreneurs in Los Angeles, including a 12-week Residency accelerator for early-stage startups, an Idea to Launch Bootcamp for pre-launch entrepreneurs, and specialized programs like the PledgeLA Founders Fund and Friends & Family program, all aimed at providing essential skills, resources, and support to help founders develop and grow their businesses.

Location: DTLA

Type of Funding: Seed, early stage

Focus: Industry Agnostic

Notable Past Companies: Casetify, Flavors From Afar


Idealab

Idealab is a renowned startup studio and incubator based in Pasadena, California. Founded in 1996 by entrepreneur Bill Gross, Idealab has a long history of nurturing innovative technology companies, with over 150 startups launched and 45 successful IPOs and acquisitions, including notable successes like Coinbase and Tenor.

Location: Pasadena

Type of Funding: Stage agnostic

Focus: Industry Agnostic, AI/Robotics, Consumer, Clean Energy

Notable Past Companies: Lumin, Coinbase, Tenor


Plug In South LA

Plug In South LA is a tech accelerator program focused on supporting and empowering Black and Latinx entrepreneurs in the Los Angeles area. The 12-week intensive program provides early-stage founders with mentorship, workshops, strategic guidance, potential pilot partnerships, grant funding, and networking opportunities to help them scale their businesses and secure investment.

Location: Los Angeles

Type of Funding: Pre-seed, seed

Focus: Industry Agnostic, Connection to South LA and related communities

Notable Past Companies: ChargerHelp, Peadbo


Cedars-Sinai Accelerator

The Cedars-Sinai Accelerator is a three-month program based in Los Angeles that provides healthcare startups with $100,000 in funding, mentorship from over 300 leading clinicians and executives, and access to Cedars-Sinai's clinical expertise and resources. The program aims to transform healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market, offering participants dedicated office space, exposure to a broad network of healthcare entrepreneurs and investors, and the opportunity to pitch their companies at a Demo Day.

Location: West Hollywood

Type of Funding: Seed, early stage, convertible note

Focus: Healthcare, Device, Life Sciences

Notable Past Companies: Regard, Hawthorne Effect


MedTech Innovator

MedTech Innovator is the world's largest accelerator for medical technology companies, based in Los Angeles, offering a four-month program that provides selected startups with unparalleled access to industry leaders, investors, and resources without taking equity. The accelerator culminates in showcase events and competitions where participating companies can win substantial non-dilutive funding, with the program having a strong track record of helping startups secure FDA approvals and significant follow-on funding.

Location: Westwood

Type of Funding: Seed, early stage

Focus: Health Care, Health Diagnostics, Medical Device

Notable Past Companies: Zeto, Genetesis


KidsX

The KidsX Accelerator in Los Angeles is a 10-week program that supports early-stage digital health companies focused on pediatric care, providing mentorship, resources, and access to a network of children's hospitals to help startups validate product-market fit and scale their solutions. The accelerator uses a reverse pitch model, where participating hospitals identify focus areas and work closely with selected startups to develop and pilot digital health solutions that address specific pediatric needs.

Location: East Hollywood

Type of Funding: Pre-seed, seed, early stage

Focus: Pediatric Health Care Innovation

Notable Past Companies: Smileyscope, Zocalo Health


Disney Accelerator

Disney Accelerator is a startup accelerator that provides early-stage companies in the consumer media, entertainment and technology sectors with mentorship, guidance, and investment from Disney executives. The program, now in its 10th year, aims to foster collaborations and partnerships between innovative technology companies and The Walt Disney Company to help them accelerate their growth and bring new experiences to Disney audiences.

Location: Burbank

Type of Funding: Growth stage

Focus: Technology and entertainment

Notable Past Companies: Epic Games, BRIT + CO, CAMP


Techstars Space Accelerator

Techstars Space Accelerator is a startup accelerator program focused on advancing the next generation of space technology companies. The three-month mentorship-driven program brings together founders from across the globe to work on big ideas in aerospace, including rapid launch services, precision-based imaging, operating systems for complex robotics, in-space servicing, and thermal protection.

Location: Los Angeles

Type of Funding: Growth stage

Focus: Aerospace

Notable Past Companies: Pixxel, Morpheus Space



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