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One Card to Rule Them All: LA Metro’s Experiment in a Universal Transit Wallet
Maylin Tu
Maylin Tu is a freelance writer who lives in L.A. She writes about scooters, bikes and micro-mobility. Find her hovering by the cheese at your next local tech mixer.
L.A. Metro is launching the largest experiment in the U.S. to provide 2,000 residents with a seamless transportation payment platform spanning public and private systems.
The agency is opening up applications for its mobility wallet as part of its universal basic mobility (UBM) pilot, helmed by L.A.’s Department of Transportation (LADOT). Metro is seeking applicants from South Los Angeles to apply by November 1. After applicants are selected, the first phase of the pilot will begin within the next few months.
One thousand participants will receive prepaid debit cards which the city will replenish with $150 per month ($1,800 total over the course of a year) to spend on multimodal transportation options in the program’s first phase. The debit card can be used to pay for Metro bus and rail, Metro Micro and 26 municipal transit agencies across L.A. County, as well as private mobility options including shared e-scooters and e-bikes, car share, ride-hailing and taxis. Participants can use funds to pay for rides from companies like Uber or Lyft, but not for personal car expenses such as gas or repairs.
In the second phase set to launch in early 2023, payment will be integrated into L.A.’s TAP card. According to Metro’s The Source, the agency was seeking private mobility operators to integrate with TAPforce, a platform providing “a seamless payment option” for multiple forms of transportation. Metro has yet to announce which private mobility companies will be integrated into TAP for phase two.
One-in-five low-income residents who ride transit don’t own a smartphone. For that reason, Metro plans to provide 200 participants with cell phones and data plans, in addition to the $150 subsidy, according to LADOT Spokesperson Colin Sweeney. The application process for receiving a phone and data plan will take place in-person.
Roughly 30% of the 370,000 residents in South L.A. live below the poverty line, according to LADOT. Studies have shown that low-income households spend a greater percentage of income (28.8%) on transportation compared to wealthier households (9.5%). The goal of the UBM pilot is to provide underserved Angelenos greater access to mobility and economic opportunities.
The agency announced the program in April with components including EV charging stations, workforce training programs, a free EV shuttle, upgrades to bus and cycling infrastructure and an “e-bike library,” which would let users checkout e-bikes.
Funding for the project comes from a $13.8 million grant from the California Air Resources Board and an additional $4 million from the city’s unappropriated balance (UB) fund.
To date, the only parts of the program in operation are the workforce development programs offered by the Los Angeles Cleantech Incubator and Los Angeles Trade Technical College, according to LADOT.
Oakland piloted a universal basic mobility program in 2020, in which 500 residents received $300 total (A second phase beginning next month will include 1,000 participants); Bakersfield is piloting a program for 100 disadvantaged youth ages 18 to 24, and Pittsburgh’s 50-person UBM experiment just launched in August.
If South L.A.’s pilot is successful, the city hopes to expand it to the rest of L.A.
“The idea would be, ‘How do we roll it out around the city and then the county?” said Eli Lipmen, executive director of Move LA. “The goal is to stand it up and figure out the mechanics of it.”
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Maylin Tu
Maylin Tu is a freelance writer who lives in L.A. She writes about scooters, bikes and micro-mobility. Find her hovering by the cheese at your next local tech mixer.
Venture Waves, Climate Tech Wins, and Silicon Beach's Ongoing Evolution
04:05 PM | June 06, 2024
Anduril Seeks $1.5B in VC Funds
Defense company Anduril Industries Inc., based in Costa Mesa and founded by Palmer Luckey, is seeking to raise $1.5 billion in fresh funds to boost its valuation to $12.5 billion or more, according to sources quoted by The Information. This fundraising effort, if successful, would mark one of the largest venture capital rounds of the year.
Anduril recently secured a contract to develop and test small unmanned fighter jet prototypes under the Air Force’s Collaborative Combat Aircraft (CCA) program, beating out major defense companies like Boeing, Lockheed Martin, and Northrop Grumman. Alongside General Atomics, Anduril will design, manufacture, and test these aircraft, with a final multibillion-dollar production decision expected in fiscal year 2026. This program aims to deliver at least 1,000 combat aircraft to fly in concert with manned platforms and is part of the Air Force’s Next Generation Air Dominance initiative. Central to Anduril’s success in this contract is the Fury autonomous air vehicle, acquired through the purchase of Blue Force Technologies. This victory underscores Anduril's rapid advancement in the defense sector, aligning with Luckey's vision of building faster and more cost-effective defense assets. - learn more
Los Angeles Ranks Number 1 in Emerging Climate Tech Hub
The 2024 Emerging Climate Tech Hubs Report by Revolution highlights Los Angeles as a burgeoning center for climate tech innovation. LA's growth in this sector is driven by its diverse talent pool, strong research institutions, and a culture of environmental consciousness. The city's unique mix of legacy industries, such as entertainment and aerospace, alongside emerging tech companies, positions it as a pivotal player in the climate tech landscape. This shift reflects a broader trend of decentralized climate tech funding across the U.S., reducing the historical dominance of California's traditional hubs. - learn more
Silicon Beach: Looking Back, Moving Forward
Assessing the overall health of the startup market is challenging, especially as venture capital funding has decreased by an average of 61% from 2021 to 2023 across the top VC markets in the US. Markets with robust ecosystems in AI, SaaS, Biotech, Healthtech, and Fintech appear to be weathering the downturn better than those focused on Consumer and Gaming industries, areas where Los Angeles traditionally excels.
Percent Change In VC Funding By Region
LA Times paints a rather bleak outlook on the Los Angeles tech scene noting venture capital funding in Greater Los Angeles plummeted 73% from 2021 to 2022. Silicon Beach, once a vibrant tech corridor, currently faces high vacancy rates and lacks late-stage financiers, especially in the AI sector. However, there are positive signs, including growth in aerospace startups and increased venture capital investment in early 2024, suggesting a potential rebound for LA's tech ecosystem.
While LA may not be exceeding expectations during this period, its tech ecosystem warrants a nuanced evaluation, given the broader market dynamics and its strong performance in specific sectors. Reach out to us with your thoughts.
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Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Rain's Latest Funding Fuels the Future of Financial Wellness
09:21 AM | April 11, 2025
🔦 Spotlight
Happy Friday,
This week, the LA tech scene buzzed with news that Rain, a leader in financial wellness, hassecured $75 million in Series B equity funding, spearheaded by Prosus. This isn't just another funding round; it's a pivotal chapter in Rain's mission to transform how American workers interact with their earnings.
Since its inception, Rain has been at the forefront of innovation in financial technology, particularly with its earned wage access solutions. The concept was simple yet revolutionary: allow workers to access their earned wages instantly, mitigating financial stress and dependency on high-interest payday loans. This vision quickly gained traction, propelling Rain from a promising startup to a key player in the fintech space.
What makes this Series B funding particularly noteworthy is what it represents on a larger scale. It's not just an influx of capital but a strong endorsement of Rain's potential to expand even further. With previous rounds fueling their initial growth and strategic partnerships, such as their notablecollaboration with Marqeta to enhance payment technologies, Rain has steadily built a foundation not just for success but for significant impact.
As Rain secures this significant new funding, their initiative to reshape financial wellness is set to expand dramatically, showcasing the profound impact tech can have on everyday financial challenges.
Looking forward to seeing how their innovations will drive change in the financial landscape.
🤝 Venture Deals
LA Companies
- Dosen, a Los Angeles-based HRtech startup founded by Ronan Wall, Victor Burke, and Cian McCarthy, has secured $2.3M in an oversubscribed pre-seed funding round led by Affinity Ventures. The company offers an AI-powered platform that aligns employee-led learning with business goals through personalized, gamified development programs. The funds will be used to scale the platform, enhance AI-driven personalized learning, and improve employee engagement and productivity. - learn more
- Plug, a Santa Monica-based company operating an EV-exclusive wholesale online auction platform, has secured $6.7M in an oversubscribed seed funding round led by Floodgate, Autotech Ventures, and A*. The company has also launched Plug Trade Desk™, the first EV-focused service designed to help dealers confidently price, move, and monetize trade-ins. The newly acquired funds will be used to enhance Plug's technology and expand its services, aiming to support dealers in navigating the growing used EV market. - learn more
- Gallatin AI, a defense tech startup, has raised $15M in seed funding led by 8VC to scale its AI-powered logistics platform, Navigator. The tool helps military logisticians predict, plan, and execute operations more efficiently in contested environments. Funds will be used to expand the team and deploy the platform across military services. - learn more
- BLNG AI, a generative AI platform based in Los Angeles and Paris, raised $3M in seed funding led by Speedinvest to streamline jewelry design by turning sketches into photorealistic renderings and animations. The funding will support commercialization, team expansion in Europe and the U.S., and the launch of a subscription-based app for luxury brands and independent jewelers. - learn more
- Amca, a newly launched aerospace company focused on modernizing the industrial supply chain, has raised $76M in funding from investors including Caffeinated Capital, Founders Fund, Lux Capital, Andreessen Horowitz, and others. The company plans to acquire specialized suppliers and develop new aerospace products, aiming to strengthen and future-proof the sector’s manufacturing and innovation capabilities. - learn more
- Turbine Finance Corp., a Santa Monica, California-based data science-driven liquidity platform, has raised a total of $21.75M in equity funding, comprising a $13M Series A round co-led by Alpha Edison and TTV Capital, and a previously unannounced $8.75M seed round with participation from Fin Capital, B Capital, and Sozo Ventures. Additionally, the company secured up to a $100M warehouse facility from Silicon Valley Bank to provide credit facilities to venture investors. The combined funding of $121.75M will be used to deploy the warehouse line and expand Turbine's data science team. Turbine's platform enables private equity and venture firms to offer limited partners access to the value of their portfolio investments without reducing exposure, leveraging machine learning to expedite underwriting processes. - learn more
- Gente Beauty, an innovative Brazilian body care brand, has received a lead investment from Webster Capital, a private equity firm specializing in consumer and healthcare sectors. This partnership aims to support Gente Beauty's growth and expansion in the beauty industry. - learn more
LA Venture Funds
- Alexandria Investment Partners participated in a $41M Series A round for Solu Therapeutics, a Boston-based biotech company developing targeted protein degradation therapies. The funding will advance its lead candidate, STX-0712, which recently entered a Phase 1 clinical trial for CMML and other advanced blood cancers. - learn more
- Calibrate Ventures participated in SigIQ.ai's $9.5M seed funding round. SigIQ.ai, based in Berkeley, California, is an AI tutoring startup focused on providing personalized education through advanced AI models. The funds will be used to hire top talent, enhance their AI models, and scale their platforms to educational systems worldwide. - learn more
- Rusheen Capital Management participated in Zero Industrial's $10M Series A funding round, aiming to accelerate the development of thermal energy storage solutions in North America. Zero Industrial focuses on deploying large-scale thermal energy storage projects to enhance energy efficiency and support decarbonization efforts. The funding will be used to expand their project pipeline and advance the commercialization of their technology. - learn more
LA Exits
- Bread Beauty Supply has been acquired by Cost of Doing Business (CODB), a holding company founded in 2024 by Topicals founder and CEO Olamide Olowe and president Sochi Mbadugha. The acquisition aims to expand Bread's retail presence in the U.S., starting with an increased footprint in Sephora stores. Founder Maeva Heim will continue as Chief Creative Officer, focusing on the brand's creative direction, while CODB will manage strategic operations. This move reflects CODB's commitment to supporting Black-owned businesses and fostering diversity in the beauty industry. - learn more
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