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XMeet the 10 Startups in Techstars' 2021 Space Accelerator Class
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
Techstars' Space Accelerator took off this week with its third class of space-related companies that make everything from AI-powered smart cameras to technology that can anticipate celestial collisions.
The 10 startups selected for the competitive four-month program are based across the U.S. and Australia and will work with Techstars on a mostly remote basis.
All are developing technology with multiple uses in space and will receive a $120,000 investment in addition to access to Techstars' expanding network of mentors.
That network includes aerospace experts at the Pasadena-based NASA Jet Propulsion Laboratory. Participating companies include Lockheed Martin, Arrow Electronics, SAIC and Israel Aerospace Industries.
"Alumni from our previous cohorts are launching space systems and infrastructure, raising tens of millions of dollars in venture capital as well as receiving lucrative contracts from both government and commercial customers," said Jonathan Fentzke, the program's managing director.
The program will culminate in a demo day on Sept. 2 where the startups will show off their work in hopes of winning potential investors or clients.
Fentzke noted that while no companies in this year's cohort are based in LA, Techstars still has partners mentors and investors based here.
"As it turns out the four companies in California out of 10 are not based in L.A. today, but will likely have a presence over time," Fentzke told dot.LA.
Here's a look at the 10 companies selected for this year's Techstars Space Accelerator.
Hyperkelp
LOCATION: San Clemente, Ca.
CEO: Graeme Rae
Founded by maritime engineer Dr. Graeme Rae, Hyperkelp is building buoys that aren't your average fishing bobber. Its tech can collect and transmit data about the surrounding ocean and incoming payloads from space. The company says its goal is to create a network of the buoys around the ocean to help aerospace launch companies stream data from anywhere around the world.
Hyperspec.ai
LOCATION: San Francisco, CA. and Tel Aviv, Israel
CEO: Ohad Levi
Hyperspec.ai makes smart cameras that run on artificial intelligence. The company's CEO Sravan Puttagunta previously worked in HP's engineering department. In a nutshell, Hyperspec's cameras are made to create accurate mapping and object tracking in real time, with the goal of being used on self-driving cars and other autonomous vehicles.
Nicslab
LOCATION: Sydney, Australia
CEO: Dr. Andri Mahendra
Nicslab develops technology called the "source measurement system" that uses quantum computing to help organizations optimize their internet speeds and make them faster. Its current clients include the University of Oxford, HP Labs and Mitsubishi Electric.
Pierce Aerospace
LOCATION: Indianapolis, In.
CEO: Aaron Pierce
Pierce Aerospace makes software that helps autonomous drones identify objects and payloads. It argues that this software is critical to the development of the drone industry -- after all, it can be pretty scary if a drone goes rogue because it can't see where it's going. In 2019 the company received a roughly $50,000 grant from the U.S. Department of Defense to continue work on its flagship product, the Flight Portal ID system, which the DoD wants to use on its Unmanned Aircraft Systems.
Pixspan
LOCATION: Rockville, MD.
CEO: Michael Rowny
Pixspan develops a system that lets large files be transferred from different storage locations (like hardware or the cloud) at rapid speeds -- sometimes up to 5 times faster than average, it reports. It's compatible with several app programming interfaces, the main one being Amazon Web Services.
QuSecure
LOCATION: San Mateo, Ca.
CEO: Dave Krauthamer
QuSecure is a security company that focuses on protecting government and corporate systems from hacks. Specifically, its software works to keep encrypted data from being stolen and decrypted by quantum computers, which can steal and read valuable information at rapid speed. Its customers include Google and Amazon.
SCOUT
LOCATION: Alexandria, Va.
CEO: Eric Ingram
Scout -- also known as Scout Space -- develops software that helps spacefaring companies visualize what's going on in the great beyond and avoid casualties, like crashes with other spacecraft, satellites or debris. The company was founded in 2019 and says its name is an acronym for helping Spacecraft Observe and Understand Things around them.
SeaSatellites
LOCATION: San Diego, CA.
CEO: Mike Flanigan
As the name suggests, SeaSatellites is building unmanned vessels that work as satellites for the ocean and have a wide array of potential uses, from environmental data collection to communications. Similar to their skyward counterparts, SeaSatellites' tech can be controlled from anywhere and are designed to carry payloads on long missions.
Xairos
LOCATION: Denver, CO.
CEO: David Mitlyng
This company's name is Greek to us -- literally. A nod to the Greek god of opportune time, Kairos, is an appropriate name for this startup using quantum mechanics to bring GPS-type technology to areas of the globe without internet access.
Thermexit
LOCATION: Boston, MA.
CEO: Katie Willgoos
Thermexit is the only company in this year's Space Accelerator cohort that's led by a woman. CEO Katie Willgoos joined the company in March and helps the company create and sell its main product, Theremexit Pads, which are tiny thermal sensing sticky pads that can be placed on circuit boards and inside computers.
Correction: An earlier version of this post stated this is Techstars' second space accelerator cohort. It's the accelerator's third such class. It also, misnamed the CEO of Hyperspec.ai.
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Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
https://twitter.com/samsonamore
samsonamore@dot.la
Signal Sciences Snapped up for $775M in Big LA SaaS Exit
04:46 PM | August 27, 2020
Photo by Michael Dziedzic on Unsplash
Cloud computing company Fastly announced plans to acquire Culver City-based Signal Sciences for $775 million on Thursday. It's the largest enterprise exit in L.A., according to Andrew Peterson, the CEO of Signal Sciences.
Signal, founded in 2014, protects web applications from attacks and data breaches for clients like Duo Security, Under Armor and DoorDash. With breaches costing an average $3.86 million, preventing them has become imperative for many businesses.
"The main reason why folks are adopting us is because all of them are going through this type of digital transformation movement," Peterson said. "They're building more software and trying to build it faster. That's what we empower them to do."
Fastly provides content delivery services to websites and apps with customers such as TikTok, Vimeo, Pinterest and The New York Times. The addition of Signal will help boost its security portfolio.
"We've been really big fans of their technology from the beginning," said Peterson, who before creating Signal Sciences used Fastly to build security technology for Etsy.
"Their story is very similar to ours in the sense that their founding team was also practitioners before," he said. "They also saw firsthand some of the problems of trying to modernize technology stacks and focused on empowering developers and development technology teams in the process of building critical infrastructure."
Signal Sciences has seen a boost in demand recently as in-person retail dropped during the pandemic and companies that had put off plans to build a web presence decided they couldn't wait any longer.
Signal Science's last funding round came in February of 2019 when the company brought in $35 million, led by Lead Edge Capital. They currently employ over 150 and are looking to hire more.
Fastly is based in San Francisco-based but half of its employees work from around the world, and many are in L.A., Peterson said.
Under the terms of the agreement, Fastly will acquire Signal Sciences for $200 million in cash and approximately $575 million worth of Class A Common Stock, according to a statement.
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Francesca Billington
Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.
https://twitter.com/frosebillington
francesca@dot.la
OpenAI's $6.6B Power Play: The Future of AI Just Got a Massive Boost 💰🚀
09:50 AM | October 04, 2024
Image Source: Open AI - Sam Altman
🔦 Spotlight
OpenAI is making some exciting moves! The company just completed a massive $6.6 billion funding round, pushing its valuation to an impressive $157 billion. Thrive Capital led the charge, with big names like Andreessen Horowitz and Founders Fund also joining in. This investment will allow OpenAI to further scale its operations and advance AI technologies like GPT-4 across various sectors such as healthcare, entertainment, and business.
But that’s not the only exciting news. OpenAI has also secured an additional$1 billion credit facility, giving the company even more financial flexibility to execute its ambitious growth plans. This safety net ensures that OpenAI has the resources to scale safely and effectively while continuing to lead the AI space.
AI is becoming integral to industries worldwide, and OpenAI’s products—like ChatGPT—are seeing rapid adoption. From education to enterprise solutions, the company is driving significant advancements in how AI is integrated into everyday life.
Following Microsoft’s $10 billion investment earlier this year, this latest round underscores the market’s confidence in OpenAI’s potential. With its strong focus on responsible AI deployment and ethical scaling, the company is set to shape the future of AI in a way that benefits a broad range of industries and addresses global challenges.
As AI evolves, OpenAI remains dedicated to pushing boundaries while ensuring that its innovations prioritize safety, scalability, and social impact. Keep an eye on this space—big things are on the horizon!
🤝 Venture Deals
LA Companies
- Impulse Space, a Redondo Beach-based company specializing in in-space transportation services, raised $150M in Series B funding led by Founders Fund, bringing its total funding to $225M, to expand its team and advance production of its Helios and Mira vehicles. - learn more
- Nevoya, a company focused on developing zero-emissions solutions for the freight and transportation industry, has raised $3M in seed funding led by Third Sphere and RedBlue Capital. - learn more
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- Future Trash, a multidisciplinary creative studio, has raised a $5M Seed funding round from TIRTA and General Catalyst to develop original intellectual property (IP) within Fortnite, focusing on building unique in-game content and experiences. - learn more
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LA Venture Funds
- Regeneration. VC led a $5M Seed funding round for Neutreeno, a deep tech startup spinning out of the University of Cambridge (UK). - learn more
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- Progression Fund participated in a $3.7M Seed funding round for Permanent, a company focused on advancing sustainable agriculture by developing solutions that improve soil health and productivity. - learn more
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