nacelle

nacelle

Illustration by Ian Hurley

In Los Angeles—like the startup environment at large—venture funding and valuations skyrocketed in 2021, even as the coronavirus pandemic continued to surge and supply chain issues rattled the economy. The result was a startup ecosystem that continued to build on its momentum, with no shortage of companies raising private capital at billion-dollar-plus unicorn valuations.

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It's only 11am, but Brian Volk-Weiss is on his 7th or 8th meeting of the day when we finally get a chance to talk. No surprise there—who has time for sleep when you've got over over a dozen different projects in post-production alone?

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Photo by Sahand Hoseini on Unsplash
  • L.A. companies raised a total of $71 million in seed funding, a 26% decline from the first quarter of the year.
  • Ecommerce and Software-as-a-Service (SaaS) companies fared best during the pandemic
  • Analysts were surprised investment hadn't dropped further.

Mirroring national trends, seed stage investment in Los Angeles slowed during the second quarter of 2020 as venture capitalists focused on shoring up their existing portfolio companies to weather the pandemic. L.A. companies raised a total of $71 million in seed funding, a 26% decline from the first quarter of the year, according to a report released Tuesday from the pre-seed fund Amplify.LA.

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