This Week in ‘Raises’: Thatgamecompany Lands $160M, M13 Launches $400M Fund

Molly Wright

Molly Wright is an intern for dot.LA. She previously edited the London School of Economics' student newspaper in the United Kingdom, interned for The Hollywood Reporter and was the blogging editor for UCLA's Daily Bruin.

This Week in ‘Raises’: Thatgamecompany Lands $160M, M13 Launches $400M Fund

Raises is dot.LA’s weekly feature highlighting venture capital funding news across Southern California’s tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).


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Venture Capital

Thatgamecompany, a Santa Monica-based video game developer, raised $160 million in funding from TPG and Sequoia Capital.

Counterpart, an L.A.-based insurtech startup, raised $30 million in Series B funding led by Vy Capital.

Emotive, an L.A.-based text marketing platform, raised $15.7 million in equity funding, according to an SEC filing.

H2U Technologies, a Chatsworth-based green hydrogen tech company, raised $11 million in Series A funding led by Jericho Energy Ventures, Freeflow Ventures, VoLo Earth Ventures, and Hess Corporation.

L.A.-based NFT platform DNABlockraised $7 million in seed funding led by Sfermion, Solana Ventures, Animoca Brands and Non-Fungible Labs.

L.A.-based Masienda, which produces non-GMO corn products, raised $6.45 million in funding, according to SEC filings.

ImmunoVec, a Santa Monica-based gene therapy startup, raised $4.3 million in funding, according to an SEC filing.

HearHere, a Santa Barbara-based road-trip storytelling app, raised $3.2 million in seed funding led by Camping World.

KYX, an Encino-based sneaker rental startup, raised $3 million in seed funding led by SeventySix Capital.

L.A.-based short-term rental marketplace The Host Co.raised $1.85 million in seed funding led by HearstLab.

Funds

M13, a Santa Monica-based venture capital firm focused on consumer-tech startups, raised $400 million for its third fund.

Hawke Ventures, the venture capital arm of L.A.-based marketing consultancy Hawke Media, raised $16.4 million for its second fund, according to an SEC filing.

mollywright@dot.la

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Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Inflation hit cities with tech-heavy workforces hard last year. Tech workers fortunate enough to avoid layoffs still found themselves confronting rising costs with little change in their pay.

Those national trends certainly touched down in Los Angeles, but new data from the Bureau of Labor Statistics (BLS) show that the city of angels was the only major metro area that saw its wage growth grow by nearly 6% while also outpacing the consumer price index, which was around 5%. Basically, LA was the only area where adjusted pay actually came out on a net positive.

So, what does this mean for tech workers in LA County?

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samsonamore@dot.la

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups

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.

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups
Photo by Red Zeppelin on Unsplash

The Inflation Reduction Act contains almost $400 billion in funding for clean energy initiatives. There’s $250 billion for energy projects. $23 billion for transportation and EVs. $46 billion for environment. $21 billion for agriculture, and so on. With so much cash flowing into the sector, the possibilities for investment and growth are gigantic.

These investment opportunities, however, have typically been inaccessible for everyday retail investors until much later in a company’s development–after an IPO, usually. Meaning that the best returns are likely to be captured by banks and other institutions who have the capital and financing to invest large sums of money earlier in the process.

That’s where Pasadena-based Energy Shares comes in. The company wants to help democratize access to these investment opportunities and simultaneously give early-stage utility-scale energy projects another revenue stream.

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How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success

Aisha Counts
Aisha Counts is a business reporter covering the technology industry. She has written extensively about tech giants, emerging technologies, startups and venture capital. Before becoming a journalist she spent several years as a management consultant at Ernst & Young.
How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success
Joey Mota

Fleeing war and chasing new opportunities, more than a dozen Ukrainian entrepreneurs have landed in Los Angeles, finding an unexpected community in the city of dreams. These entrepreneurs have started companies that are collectively worth more than $300 million, in industries ranging from electric vehicle charging stations to audience monetization platforms to social networks.

Dot.LA spent an evening with this group of Ukrainian citizens, learning what it was like to build startups in Ukraine, to cope with the unimaginable fear of fleeing war, and to garner the resilience to rebuild.

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