As most people are winding down for the holidays, LA’s tech scene keeps on ripping! Read on for a new local satellite factory, LA startups raising capital, and more.
🔦 Spotlight
As most of you, our loyal readers, know, LA is the center of aerospace innovation in America these days. From giants like SpaceX (how about that $180B valuation!) to growth stage rocket ships (ha) like Relativity Space, our sunny city is the place to find the coolest companies sending people and stuff into outer space.
LA-based Apex is still in its early days, but it is poised to become another feather in the cap of our burgeoning aerospace ecosystem. Apex is a satellite manufacturer, attempting to give satellites their “Model T moment.” Traditionally, satellites have been custom built on a one-off basis, with little standardization or economies of scale. Apex plans to change that in its new Playa Vista facility, which will serve as the company’s new HQ as well as an expanded manufacturing base.
“Scaling our satellite production capabilities is essential for meeting customer demand. Our customers are seeking spacecraft with shorter lead times, and Factory One will deliver: in just a few years, the facility will produce 50 satellite platforms annually, across our Aries and Nova-class models. From there, we can continue to increase capacity at this facility” said Ian Cinnamon, Chief Executive Officer at Apex.
Obviously opening the 46,000 square foot Factory One, as Apex is calling it, takes a lot of cash. Luckily the company has plenty on hand after its $16M Series A, raised this summer from Andreessen Horowitz and Shield Capital.
Looking forward to seeing what Apex can accomplish in the next few years in its new Playa Vista home.
🤝 Venture Deals
Actively Raising
- 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!
LA Startups
- Helicity Space, a startup that says it has discovered a way to use plasma jets for fusion reaction, raised a $5M Seed Round from backers such as Airbus Ventures, the VC arm of the major European aerospace giant, TRE Advisors, Voyager Space Holdings, and others. - learn more
LA Funds
- March Capital led a $56.5M Series A for Essential AI, a startup that will use AI for corporate functions such as data analysis and automate monotonous tasks. - learn more
- Riot Ventures, led a $100M Series B for True Anomaly, a maker of small satellites for surveillance and reconnaissance of space objects. - learn more
- Clocktower Technology Ventures participated in a $6M Seed Round for Hyperplane, a developer of customer behavior models for banks. - learn more
LA Exits
- MOJO Sports, an LA-based youth sports media platform co-founded and led by former ABC News president Ben Sherwood, agreed to be acquired by youth sports management platform TeamSnap. - learn more
✨ Featured Event ✨
Attendees rocking their holiday best at the #LongLA Holiday PartyThis week, our friends at AI LA hosted the third annual #LongLA Holiday Party at the Pluto Penthouse on Wilshire. It was a packed house with dozens of AI builders, investors, and enthusiasts all celebrating what makes LA tech so special: the community. In addition to the conversations, ugly Christmas sweaters, and thumping bass, AI LA generated thousands of dollars in charitable donations to wonderful organizations like Children’s Hospital of Los Angeles, Los Angeles Regional Food Bank, and The Midnight Mission.
See you there next year!
📅 LA Tech Calendar
Wednesday, December 20th
- Startup/Investor Poker Showdown - Join other founders and investors on the Westside for an evening of networking, strategy and high-stakes fun!
Friday, December 22nd
- Pitch and Run LA: Friday Runs - Join PitchandRun for Pitch and Run Fridays! 7:30am near 17th St & San Vincente for a ~3.5 mile loop at an easy-conversational pace. Pitch and Run is designed to help you connect with others on ideas, passions, and life while enjoying a casual run.
Have an awesome event coming up? Reach out to be featured on next week’s Newsletter!
📙 What We’re Reading
- Super League Enterprises, previously focused on esports, underwent a significant pivot towards enabling digital advertising campaigns in gaming platforms and leveraging proprietary technology and acquisitions. - read more
- American Inno's 2023 gift guide: 20 unique finds from U.S. startups. - read more