‘Try Before You Buy’: Transportation-As-a-Service Startups Are Booming In SoCal

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

‘Try Before You Buy’: Transportation-As-a-Service Startups Are Booming In SoCal

Why buy when you can rent? That’s the question behind a new business model rapidly gaining popularity among transportation companies looking to transition to electric vehicles. The “Transportation as a Service” (Taas) or “Fleet as a Service” (…FlaaS?) solution offers a way for companies to cut carbon emissions from their operations without investing millions into new vehicles and charging infrastructure.


It's a decidedly un-sexy facet of the electric vehicle market, but that’s sort of the whole gambit: A low-risk path into reducing emissions without radically changing day-to-day operations. The general structure of the arrangement goes something like this: A transportation as a service company buys electric vehicles from a manufacturer. It could be a delivery van, a shuttle bus, a Class 8 semi-truck, or whatever else might be in demand. The TaaS company builds the infrastructure to charge, maintain, and store the vehicles while recouping their investment through leases to clients who want to move people or freight on an electrified platform.

For medium-sized transportation companies that can’t afford to invest millions into a new fleet, as well as new chargers and personnel, the arrangement offers a viable path to electrification and achieving environmental, social and governance goals. Not to mention, a way to test the waters before making a larger investment—a way to “try before you buy.” In addition to the environmental benefits, switching to electric also allows transportation companies to access financial incentives like California’s low carbon fuel standard, which pays companies to reduce emissions. For equipment manufacturers, the model provides another buyer and a proving ground for their tech. The TaaS company functions as the middleman and collects money on the leases.

In Southern California there’s a number of companies entering this space from different angles. In Inglewood, Zeem Solutions is operating as a TaaS company with a depot of 77 vehicles ranging from Class 2 and 3 electric vans all the way up to class 7 and 8 tractor trailers. In July, Zeem secured a $50 million capital investment from Affiliates of ArcLight Capital Partners, which CEO Paul Gioupis plans to use to build their fleet to over 100 vehicles by the end of the year. By the end of 2023, he hopes that number will be closer to 400-500.

The plans for growth may seem aggressive, but Gioupis says the demand is astronomical. The limiting factor is supply. Zeem is technology agnostic, meaning the company will use any battery, vehicle, charger or platform as long as there’s demand for it and the engineering meets their standards. Their current crop of offerings come from Lightning Systems, Volvo and Green Power, as well as four partnerships with Southern Californian companies Xos, SEA Electric, Phoenix Motors and Maxwell. This complicates life for the company as a depot since the operators have to learn the specifics of each platform for the purpose of maintenance and repairs. But it also gives Zeem the flexibility to work with any number of manufacturers on the market so they can offer whatever sort of vehicle clients need. So far, Zeem has found a niche in large airport-shuttle-style vans due to their proximity to LAX: 54 of its vehicles currently fit that description. But Gioupis says they’re seeing incredible demand for class 8 big rigs as well.

Class 8 trucks are designed to pull loads in excess of 33,000lbs; doing that with batteries is no small feat. But Los Angeles-based Xos is one of several startups throwing their hat into the ring. The electric truck company also makes a suite of other electric platforms including a delivery “step van” and a class 6/7 that can haul up to 33,000 lbs. Xos doesn’t publicly say exactly how many vehicles they’ve sold, but Head of Strategy Ivan Goldensohn says the number is in the hundreds, 90% of which are step vans. Their biggest clients, by far, are FedEx independent service providers.

Goldensohn takes great pride in the company’s pragmatic and plain approach to electrifying the industry. Xos isn’t concerned with adding autonomous driving as a feature (anymore); it’s not interested in futuristic designs or flashy technology. In fact, other than the lack of a tail pipe or exhaust stack, there’s almost nothing that would indicate to an observer that the vehicles are even electric. “We're focused on building trucks that people use right now,” says Goldensohn. “And what we see from the customers is that they aren't coming to us and saying, ‘Hey, we want a massaging seat with a light show and a projected GPS module on the windscreen or whatever.’ They're saying, ‘Can they be cost competitive? Can they save us on total cost of ownership? And can we use them right now?’”

The Xos partnership with Zeem was a logical one for both parties. This past July, Zeem purchased 10 of the step vans to validate and test the tech. Three have been delivered to date. So far, the experiment is going well and there are plans to expand the partnership, the details of which are still being hashed out. But Gioupis sounds like he believes there might be an opportunity to electrify drayage operations using Xos’ class 8 platform. Drayage—the movement of goods off ships and around ports and onto trains or long-haul tractor trailers—is a key target for electrification. Often referred to as “first-mile” transport, drayage trips are typically short, meaning range isn’t as much of a factor. Charging infrastructure can simply be installed in the port and at destinations. “You're at the same depot, you're at the same location every day,” explains Goldensohn. “It's only one place you have to put infrastructure.” And because drayage trucks spend a considerable amount of time idling, stopping, and accelerating, switching to electric represents a real chance to meaningfully reduce carbon emissions and pollution.

If Zeem’s expansion plans go as intended, the company will compete with yet another Southern California tech startup, WattEV, in the drayage space. Based in El Segundo, WattEV is another TaaS company that’s building charging depots at drayage hubs around southern California with the goal of electrifying first mile transport and adding 12,000 trucks to the road by 2030. Their pilot program is already running in Bakersfield, with plans to expand to three additional sites by mid-2023 and over a hundred locations by 2035.

Zeem’s expansion plans are equally as ambitious, with plans to expand to 50 locations in multiple sites over the next three years. “We're not Hercules over here. We understand what would be required to do something like that,” says Gioupis.

As they expand nationally, Zeem will face competition from companies like Terawatt Infrastructure, the newly minted unicorn based in San Francisco. As well as NextEra Energy in Palm Beach Florida. In terms of funding, Zeem sits solidly in the middle, having raised 65 million to date–a far cry from Terawatt’s billion, but dramatically more than the $500,000 that NextEra has raised. Still, Gioupis doesn’t seem too worried by the funding mismatch. He believes Zeem has a leg up on competitors due to the company’s deep knowledge of the equipment that comes from his past experience working as a private equity investor and an investment banker in the EV sector. “Everybody may know stuff about chargers, or grid, or maybe a little bit of the stuff in between,” he says. “I would argue that there is a lack of knowledge around the equipment. We know the vehicles extremely well. We know all the OEMs extremely well.”

Assuming the supply chain eventually does recover and manufacturers like Xos can deliver more and more trucks, the tides certainly seem to be rising rapidly in the TaaS sector. Even the state of California is adding fuel to the fire: Earlier this month the California Air Resources Board (CARB) announced a $25 million dollar fund dedicated to helping small businesses transition to electric fleets. Dubbed the Innovative Small E-Fleet (ISEF), the fund is available to privately owned trucking companies with fleets smaller than 20 vehicles and making less than $15 million in annual revenue.

“ISEF incentive funding will allow small fleet owner/operators to utilize flexible financing, lease, rental, and truck-as-a-service options, as well as offset infrastructure/charger costs, insurance, and fuel costs,” said CARB in a press release. The initiative is being administered by CALSTART, a national clean transportation nonprofit consortium, and Niki Okuk, Deputy Director, Trucks and Off Road at CALSTART confirmed to dot.LA that both Zeem and WattEV were approved providers eligible to participate in the program. “We're seeing such amazing developments,” says Okuk. “When I started Castro three years ago, there was one electric class eight truck in our catalog. And now there's a half a dozen and every year the ranges are improving. The vehicles that used to be able to serve only the most local duty cycles are able to go further and haul more.”

$207M Later, Napster is Back and Ready for the Metaverse

🔦 Spotlight

Happy Friday, Los Angeles!

This week, we’re rewinding the clock and fast-forwarding into the future at the same time. Napster, yes, that Napster, just got acquired for $207 million byInfinite Reality, a metaverse and immersive tech company that’s aiming to bring the iconic music platform into the next generation.

For anyone who came of age in the early 2000s, Napster was either your musical awakening or the reason your dial-up connection crashed. Launched in 1999 by Shawn Fanning and Sean Parker, it was the face of peer-to-peer file sharing and a lightning rod in the music industry’s first wave of digital disruption. After its legal battles and shutdown in 2001, Napster bounced between owners like Roxio and Best Buy, before eventually merging with Rhapsody and evolving into a legitimate streaming service.

Now, Infinite Reality is giving Napster a fresh remix. The company says it plans to turn Napster into a social-first music platform that emphasizes artist-fan interaction over passive listening. We’re talking virtual 3D concert experiences, listening parties, fan communities, and merch drops… essentially, a metaverse-native platform built for music superfans.

According to Infinite Reality CEO John Acunto, this aligns with the company’s bigger vision: moving the internet away from “a flat 2D clickable web” into “a 3D conversational one.” They’re betting that a brand like Napster, which already carries cultural weight, can thrive in a world where fans want deeper connections and creators want modern monetization tools.

It’s a bold move, but maybe a smart one. Nostalgia is a powerful asset, and in an era where legacy brands keep getting digital reboots, Napster has a chance to go from early disruptor to comeback story.

Will today’s listeners hit play? We’ll see. But as far as tech comebacks go, we’re here for this remix.

🤝 Venture Deals

LA Companies

  • Topanga, a Los Angeles-based company specializing in AI-driven waste reduction solutions for commercial kitchens, has raised an $8M Series A funding round led by Blue Bear Capital, with participation from Struck Capital, Amasia, and Wonder Ventures. This investment brings Topanga's total funding to $12.2M. The company plans to use the proceeds to expand its food waste tracking platform into the senior living, health care, and hospitality sectors, accelerate the growth of its ReusePass system beyond universities into enterprise food service, and enhance integration with major food-service platforms like Grubhub and Jamix. - learn more
  • Flight Science, an aviation tech startup focused on AI-powered flight optimization, raised $1.5M in pre-seed funding led by Outsiders Fund. The company helps airlines reduce fuel costs, emissions, and turbulence impact, and will use the funds to grow its team and expand product rollout by summer 2025. - learn more
        LA Venture Funds
          • Second Sight Ventures participated in a $14.2M Series A1 funding round for Lucky Energy, an Austin, Texas-based energy drink company. Lucky Energy offers a line of zero-sugar, zero-calorie beverages in six flavors, formulated with ingredients like maca and beta-alanine. The company plans to use the funds to accelerate distribution, introduce new products, support strategic partnerships, and recruit in key business areas. - learn more
          • M13 led a $5.5M funding round for Chord Commerce, with participation from Act One Ventures and others. The New York-based company provides an AI-powered customer data platform (CDP) that helps commerce brands unify customer data, generate real-time insights, and automate marketing decisions. The funding will be used to further develop the platform and support brands in scaling their data-driven marketing efforts. - learn more
          • Upfront Ventures led a $4M Seed funding round for Arlo Health, a New York City-based AI-powered health insurance underwriter focused on small and mid-sized businesses. Arlo offers level-funded health plans designed to improve preventive care and cost transparency through value-based care and AI-driven underwriting. The funds will be used to expand its broker network, grow its engineering and sales teams, and scale operations. - learn more
          • Bonfire Ventures co-led a $5M Seed funding round for VoiceOps, with participation from Village Global and others. Based in New York City, VoiceOps uses generative AI to analyze phone calls and surface insights that boost sales performance, ensure compliance, and optimize marketing. The funding will support product development, team expansion, and broader market adoption. - learn more
          • MANTIS Venture Capital participated in a $17.2M Seed funding round for EDGE Markets, a fintech company building banking tools tailored to the gaming industry. EDGE’s flagship product, EDGE Boost, offers a debit card and bank account specifically designed for betting, with features like spending limits, financial transparency, and cash-back rewards. The funds will be used to further develop the platform and expand its presence within the gaming market. - learn more

              LA Exits

              • SmartDepo, a leading provider of AI-powered deposition summaries for the legal industry, has been acquired by Rev, a prominent speech-to-text technology company. Founded in 2023 by civil rights attorney Isaac Manoff, SmartDepo delivers comprehensive deposition summaries featuring 100% accurate page-line citations, hyperlinked tables of contents, key admissions analyses, and deposition memos highlighting essential themes. This strategic acquisition combines Rev's highly accurate transcription services with SmartDepo's advanced summarization capabilities, aiming to enhance productivity for attorneys and court reporters by reducing manual review time and improving client outcomes. - learn more
              • Stem, a platform offering personalized distribution and digital strategy services for independent artists and labels, has been acquired by Concord, a leading independent music company. Stem will operate as a separate division within Concord Label Group, with CEO Milana Lewis and President Kristin Graziani continuing in their roles. This acquisition provides Stem with the capital and resources to invest in new technology, expand its suite of label services, and accelerate global growth, while maintaining its mission to empower independent artists with autonomy and support. - learn more

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                          $100M in Wheels and Wings: Startups Changing How We Move

                          🔦 Spotlight

                          Happy Friday, LA —

                          LA’s mobility scene is shifting gears — fast.

                          We’ve got movement on the ground and in the skies this week.

                          Image Source: Upway

                          Let’s start on two wheels. Sequoia-backed startup Upway just launched its new 30,000 square-foot flagship facility in Redondo Beach, and it’s not your average bike shop. The UpCenter, as they’re calling it, is the largest e-bike refurbishment center in California — and it’s a big bet on LA becoming a leader in urban micromobility.

                          If you haven’t heard of Upway yet, you will soon. The company refurbishes e-bikes at scale, with $70 million in funding and operations in both the U.S. and Europe. Their mission? Make high-quality e-bikes more affordable and accessible, especially in cities where traffic is, well… legendary.

                          With California’s new e-bike rebate in effect and Angelenos increasingly looking for car-free ways to move around town, Upway’s timing couldn’t be better. Whether you’re commuting, cruising the Strand, or just sick of spending half your life on the 405, a refurbished ride might be the smoothest move you make all year.

                          Now — from bikes to drones.

                          Image Source: Neros

                          Neros, a young LA-based startup focused on American-made autonomous drones, just announced a $35 million Series A to ramp up manufacturing. In a market long dominated by overseas players, Neros is building drone tech domestically — and it’s not just for hobbyists. Their AI-powered drones are designed to be rugged, adaptable, and mission-ready, with applications across defense, public safety, and infrastructure.

                          The round was led by Vy Capital, with participation from Interlagos Capital, D3, Sequoia, and Keller Rinaudo Cliffton, the CEO of Zipline. Neros’ co-founder and CEO, Soren Monroe-Anderson, summed it up well: this is about “freedom through autonomy.”

                          Now, on to this week’s LA venture deals, fund announcements, and acquisitions…

                          🤝 Venture Deals

                          LA Companies

                          • BuildOps, a Los Angeles-based provider of a unified cloud-based platform for commercial contractors, has raised a $127M Series C funding round led by Meritech Capital Partners, with participation from B Capital, Fika Ventures and others. This investment elevates BuildOps to unicorn status with a valuation of $1 billion. The company plans to use the funds to enhance product capabilities, improve customer support, and scale operations to meet the growing demand from commercial contractors nationwide. - learn more
                          • Proteus Space, a Los Angeles-based company specializing in rapid custom satellite bus solutions, has raised an oversubscribed $6.1M Seed-2 funding round, led by Lavrock Ventures with participation from Crosscut Ventures and others. The funds will be used to accelerate the development and deployment of MERCURY™, Proteus’ automated computational engineering system, which aims to revolutionize custom satellite bus design by significantly reducing development time and costs. - learn more
                          • Occuspace, a Westlake Village, California-based company specializing in occupancy intelligence technology, has secured a $6M Series A funding round led by Lewis & Clark Ventures. The company plans to use the funds to accelerate its growth across higher education, corporate, and government facilities, aiming to make space utilization data the source of truth for understanding and managing the built environment. - learn more
                          • Qolab, a company specializing in quantum computing hardware, has secured Series A funding from Applied Ventures, the venture capital arm of Applied Materials. The investment will be used to advance the development and scalable manufacturing of superconducting qubits, a critical component for large-scale quantum computing. As part of the collaboration, Qolab and Applied Materials have also co-authored a technical roadmap outlining strategies to scale quantum computing from hundreds to millions of qubits. - learn more
                              LA Venture Funds
                                • Wasserman participated in a $56M funding round for Carbon Arc, a New York City-based AI data utility company. Carbon Arc specializes in transforming raw data from various industries into structured, standardized intelligence suitable for AI models and business applications. The funds will be used to accelerate the growth of Carbon Arc's Insights Exchange platform, enhancing its data utility services for businesses and the AI community. - learn more
                                • Trousdale Ventures participated in a $24M funding round for Coreshell, a San Leandro, California-based battery technology company. Coreshell specializes in developing low-cost, high-performance silicon anodes for lithium-ion batteries, aiming to enhance energy density and reduce costs. The funds will be used to scale production at their 4 MWh manufacturing facility and to plan a new 100 MWh facility, with the goal of delivering next-generation electric vehicle batteries to global automakers this year. - learn more
                                • Talino Venture Studios has participated in a $2.8M seed funding round for Higala, a Philippine-based instant payment system startup. Higala aims to enhance financial inclusion by connecting rural banks, thrift banks, commercial banks, and electronic money issuers through an open payments infrastructure, thereby lowering the cost of real-time payments and reducing entry barriers. The funds will be used to expand Higala's services, including the launch of platform banking in the second quarter, enabling smaller financial institutions to offer digital payment services. - learn more
                                • Alexandria Venture Investments participated in a $150M Series B funding round for Latigo Biotherapeutics, a Thousand Oaks, California-based clinical-stage biotechnology company developing non-opioid pain treatments. The funds will support the advancement of Latigo's selective Nav1.8 inhibitors, currently in clinical development, and the expansion of its broader therapeutic pipeline. - learn more
                                • Thiel Capital led a $3.25M funding round for Pilgrim, a biotech startup focused on enhancing human performance and defending against biological threats. The funds will be used to advance its Voyager platform, which is developing cutting-edge biotechnology with potential applications ranging from creating ‘supersoldiers’ to mitigating emerging biothreats. - learn more
                                • Alt-Capital and WndrCo participated in an $18M seed funding round for Town, a startup specializing in small business tax solutions. Town offers an AI-powered platform that automates tasks such as document processing and data collection, providing each client with a dedicated tax advisor. The funds will be used to scale Town's services across the U.S. and expand their team. - learn more

                                  LA Exits

                                    • Dieta Health, a Los Angeles-based company known for its AI-powered stool imaging technology, has been acquired by Cylinder. Dieta’s clinically validated app, shown to outperform traditional patient-reported outcomes, will be integrated into Cylinder’s platform to improve digestive health diagnostics and enable earlier, more personalized treatment. As part of the deal, Dieta’s founder and key team members will join Cylinder to support ongoing development and clinical research. - learn more

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                                            PledgeLA’s Next Chapter Starts Now with Noramay Cadena

                                            🔦 Spotlight

                                            Happy Friday, Los Angeles! As we wrap up another busy week in LA’s tech scene, there’s big news on the leadership front. PledgeLA has a new chair, and it’s someone who knows what it takes to break barriers and build lasting impact. Noramay Cadena, a San Fernando High grad turned triple-degree MIT engineer, has spent her career defying expectations. She started in aerospace engineering, leading operations before pivoting to venture capital, where she’s invested in 90+ companies across industries. She co-founded Latinas in STEM in 2013 and later launched MiLA Capital, a seed-stage VC firm investing in hardware and manufacturing innovations. As Managing Partner of Supply Change Capital, she has focused on technology transforming the food system, raising a $40M fund and deploying over $20M into 23 companies, including eight in California. Stepping into her new role as chair of PledgeLA, she’s setting her sights on an even bigger challenge: making LA’s tech and VC ecosystem more inclusive, accessible, and globally competitive.

                                            Noramay Cadena (left, with her son) incoming chair of PledgeLA, receives a Catalyst Award for Emerging Manager in December. (With Qiana Patterson, PledgeLA Chair 2020-22 and Managing Partner of NAYAH)

                                            She follows in the footsteps of Anna Barber of M13, whose leadership transformed PledgeLA into a driving force for change, launching the VC Fellowship to elevate diverse investors and spearheading the GP + LP Connections Series, which facilitated over 80 investor meetings last year. She also played a key role in the Venture Capital Data Report with UCLA Luskin and introduced the PledgeLA Catalyst Awards, honoring leaders driving capital access and innovation.

                                            Now as Chair Emerita, Barber will continue supporting PledgeLA as it enters its next phase under Cadena’s leadership.

                                            Cadena recognizes the strength of the foundation she’s inheriting. “Anna has been instrumental in making PledgeLA a force for inclusion in LA tech and venture. I’m honored to build on that work as we take the next big leap forward,” she said. “We’re at a critical moment for LA tech. We’ve built momentum, but now is the time to turn that into real, lasting change. I’m focused on forging new partnerships, increasing capital access, and ensuring that LA’s innovation economy works for everyone—not just the few.”

                                            Her first priorities? Expanding PledgeLA’s VC Fellowship to create more pathways into venture, strengthening connections between emerging fund managers and investors, and doubling down on community-driven initiatives. Earlier this year, PledgeLA members, including Wonder Ventures, raised $1.1M for wildfire relief efforts—a testament to the power of LA’s tech community when it mobilizes.

                                            With Cadena at the helm, PledgeLA isn’t just continuing its mission—it’s accelerating it. Thanks to Barber’s legacy and Cadena’s vision, the future of LA tech is poised for even greater impact. For more details on the transition and what’s ahead, read the official announcement here.

                                            And speaking of momentum, if you’re heading out this weekend, be sure to check for road closures—the LA Marathon is set to take over the streets this Sunday! Whether you’re running, cheering, or just navigating around town, it’s another reminder that LA is always on the move.

                                            Image Source: The McCourt Foundation


                                            🤝 Venture Deals

                                            LA Companies

                                            • Scrunch AI, a Los Angeles-based platform that helps businesses optimize their presence in AI-driven search results, has raised a $4M Seed funding round led by Mayfield. The company plans to use the funds to accelerate product development and expand its market reach, aiming to ensure brands remain visible and competitive as AI search becomes more prevalent. - learn more
                                            • Wolf Games, a Los Angeles-based generative gaming startup, has secured $4M in seed funding. The investment round includes prominent figures such as television producer Dick Wolf, music industry pioneer Jimmy Iovine, and Paul Wachter, Founder and CEO of Main Street Advisors. Wolf Games specializes in creating generative cinematic games that adapt to individual player choices, offering immersive and personalized storytelling experiences. The company plans to use the funds to develop its inaugural game, "Public Eye," set to launch in Summer 2025. "Public Eye" is a crime procedural game where players assist in solving murder investigations, guided by an AI-powered assistant that tailors the experience to each user's play style. - learn more
                                            • Fixated, a digital entertainment platform, has secured $12.8M in funding, led by Eldridge Industries. Fixated specializes in transforming creator representation and monetization, providing infrastructure, strategy, and expertise to help digital creators scale their content and diversify revenue streams. The investment will be used to expand Fixated's influence across talent management, content creation, gaming, and digital entertainment, aiming to empower creators and set higher industry standards. - learn more
                                            • Liminal, a user-generated content (UGC) gaming startup, has secured $5.8M in seed funding. The investment round included BITKRAFT Ventures, Riot Games, and OTK Media Group, with participation from angel investors including Marc Merrill, co-founder of Riot Games. Liminal is developing a platform that enables players to create immersive role-playing game (RPG) adventures without coding knowledge, aiming to make storytelling through gaming more accessible and engaging. The funds will be used to advance the development of this platform, with plans to launch publicly playable content in the coming year. - learn more
                                            • Pragma, a Los Angeles-based backend game engine developer, has secured $12.75M in strategic funding, bringing its total raised to over $50M. The investment round included participation from Square Enix, Upfront Ventures, Greylock Partners, and Insight Partners. Pragma specializes in providing scalable backend solutions for live-service games, powering features like matchmaking, analytics, and monetization. The new funds will be used to enhance their suite of live-service tools, support strategic acquisitions, and strengthen partnerships within the gaming industry. - learn more
                                            • Tetrous, a Sherman Oaks-based biotech company focused on bone-to-tendon healing, raised $6.5M in an oversubscribed Series A round. The funds will be used to expand market reach, generate clinical data, and broaden surgical applications of its technology. - learn more
                                            • Uthana, a generative AI company specializing in 3D character animation, has raised a $4.3M funding round led by IA Ventures. The company plans to use the funds to expand operations and development efforts, aiming to revolutionize the animation and game development industry by enabling real-time, lifelike animations that adapt dynamically to gameplay, thereby enhancing immersion and realism. - learn more
                                            • LiquidTrust, a Los Angeles-based fintech company, has raised a $4M Seed funding round led by Anthemis Female Innovators Lab Fund, Resolute Ventures, and Motivate Ventures. The company specializes in secure payment solutions for small and medium-sized businesses (SMBs) and has introduced Micro Escrow Pay, an instant escrow payment solution designed to embed trust directly into payment flows. The funds will be used to expand operations and development efforts, aiming to protect SMBs from fraud and nonpayment risks. - learn more
                                              LA Venture Funds
                                                • B Capital participated in a $4.5M funding round for Bizongo, a Mumbai-based B2B e-commerce platform focused on raw material procurement and distribution, bringing the company's valuation to $980M. The funds will be used to scale operations threefold by December, expand product categories, and position Bizongo for profitability by the last quarter of FY26. - learn more
                                                • UP.Partners led a $4M Seed funding round for SaySo, a New York City-based retail technology company that provides an interactive shopping platform designed to turn excess inventory into profit-driven opportunities. SaySo plans to use the funds to expand its partnerships and bring its interactive clearance platform to a broader retail audience. - learn more
                                                • March Capital participated in a $200M Seed funding round for Lila Sciences, a company developing an AI platform combined with autonomous laboratories to accelerate scientific discovery across life, chemical, and materials sciences. The funds will be used to further develop Lila's AI platform, build the first AI-driven science factories, and scale operations to enhance scientific research capabilities. - learn more
                                                • Animal Capital led a $1.6M pre-seed funding round for Platter, a New York-based ecommerce technology startup. Platter specializes in helping Shopify brands create high-converting storefronts that maximize profit. The funds will be used to further consolidate disparate tools into a unified product suite, empowering Shopify brands to build more profitable storefronts. - learn more

                                                LA Exits

                                                  • Tastemade, a media company known for its food, travel, and home design content, has been acquired by food delivery startup Wonder for $90M. The acquisition aims to integrate Tastemade’s content with Wonder’s services, including takeout, delivery, and meal kits, to create a comprehensive "mealtime super app." The deal is also expected to enhance Wonder’s advertising business and offer seamless access to meals featured on Tastemade’s platforms. - learn more
                                                  • Jumpcut Media, a provider of AI-driven intellectual property management and audience analysis tools, has been acquired by Cinelytic, an AI-powered content intelligence platform. Jumpcut's platforms, such as ScriptSense and SocialSense, offer real-time insights into content development and market alignment, enhancing decision-making across the content lifecycle. This acquisition aims to integrate Jumpcut's capabilities into Cinelytic's services, optimizing decision-making in the entertainment industry. - learn more
                                                  • FatTail, a Calabasas, California-based advertising technology company specializing in direct advertising solutions, has been acquired by Chartbeat, a media operations software platform backed by Cuadrilla Capital. This acquisition aims to integrate FatTail's advertising revenue management capabilities with Chartbeat's content analytics services, providing media companies with a unified platform to enhance both audience engagement and revenue generation. - learn more
                                                  • Deep 6 AI, an AI-driven precision research platform specializing in accelerating patient recruitment for clinical trials, has been acquired by Tempus, a leader in AI-powered precision medicine. Deep 6 AI's platform analyzes both structured and unstructured electronic medical record (EMR) data to match patients with clinical trials, serving over 750 provider sites and encompassing more than 30 million patients. This acquisition aims to enhance Tempus' capabilities in clinical trial matching and real-world evidence generation, furthering its mission to advance precision medicine and patient care. - learn more

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