ecommerce

ecommerce

Evan Xie

Los Angeles, like the rest of the startup world, saw a dip in global venture funding. As of November 2022, funding reached $22 billion, which is 69% lower than the previous year.

Despite the massive downturn in funding due to the decline in technology stocks at the end of 2021 combined with concerns about rising inflation, it did not stop the startups on this list from raising funding. We asked more than 30 leading L.A.-based investors for their take on the hottest firms in the region. (We also asked VCs not to pick any of their own portfolio companies, and vetted the list to ensure they stuck to that rule.)

They selected a few live-shopping platforms, space startups and payment software companies and we've organized the list based on the amount of capital raised as of January, according to data from PitchBook.

Here are the eight L.A. startups VCs have their eyes on as they look ahead to 2023.

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Image by Decerry Donato

Last week, Los Angeles-based livestream shopping platform NTWRK collaborated with Known Gallery to host a two-day digital art fair. Similar to other livestream shopping, NTWRK only sells exclusive and designer items, some of which can be worth several thousand dollars. Unlike other livestream shopping platforms, NTWRK also stores the livestream video on the app for others to view later.

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Arena Club /Andria Moore

Sports trading card platform Arena Club has raised $10 million in Series A funding.

Co-founded by CEO Brian Lee and Hall of Fame Yankees player Derek Jeter, Arena Club launched its digital showroom in September. Through the platform, sports fans can buy, sell, trade and display their card collections. Using computer vision and machine learning, Arena Club allows fans to grade and authenticate their cards, which can be stored in the company’s vault or delivered in protective “slabs.” Arena Club intends to use the new cash to expand these functions and scale its operations.

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