‘Raises’: Divergent Lands $160M, Coral Tree Closes $470M Fund

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

This week in “Raises,” a Torrance-based 3D-printing startup looking to disrupt the auto industry secured $160 million in fresh funding. Meanwhile, an L.A. investment firm seals close to half a billion dollars for its first fund.


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Venture Capital

Divergent Technologies, a 3D-printing automotive manufacturing company, raised a $160 million Series C round from investors including John L. Thornton, Tom Steyer and Hedosophia.

Men's apparel brand Johnnie-O received a $108 million investment from Ares Management and Wasatch Global Investors.

Kevin Hart's media and entertainment company HARTBEAT launched with a $100 million investment from Abry Partners.

Concert Health, a behavioral health medical group focused on treating depression and anxiety, raised a $42 million Series B round led by Define Ventures.

Estate and wealth management platform Vanilla raised a $30 million Series B round led by Insight Partners.

South 8 Technologies, a developer of electrolyte formulations for lithium-ion batteries, raised a $12 million Series A round led by Anzu Partners.

Creator-focused blockchain startup Our Happy Company, co-founded by musician John Legend, raised $7.5 million in seed funding led by Infinity Ventures Crypto and Animoca Brands.

Text-to-pay technology startup Authvia raised a $7 million Series A round led by Red Door Capital Partners.

NFT-minting protocol company CXIP Labs raised a $6.5 million seed round co-led by Courtside Ventures and Wave Financial.

Amydis, a pharmaceutical company focused on developing innovative chemistry to detect diseases, raised $5.7 million in equity, per an SEC filing.

Health care tech startup Notisphere raised $3.6 million in seed funding led by Royal Street Ventures.

Spirits startup AMASS Brands raised $3.4 million in new equity, per an SEC filing.

Cartwheel, an on-demand delivery management platform for restaurants, raised $3 million in seed funding led by Moonshots Capital.

Latino-focused fandom platform CABRA Sports raised a $2.5 million pre-seed round led by VamosVentures.

Ruth Health, a telehealth startup focused on prenatal and postpartum care, raised $2.4 million in seed funding led by Giant Ventures.

Funds

Coral Tree Partners, a private investment firm focused on the media, entertainment, communications and marketing industries, raised $470 million for its first 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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Cadence

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

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.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

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.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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AmazeVR Wants You To Attend K-Pop Concerts Virtually

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

AmazeVR Wants You To Attend K-Pop Concerts Virtually
Photo courtesy of AmazeVR

Virtual reality startup AmazeVR now has $17 million to further expand its VR concert experience.

The West Hollywood-based company’s latest funding amounts to a bet that virtual shows, a staple of the pandemic, are here to stay. Mirae Asset Capital led the Series B funding round, with Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures investing again. Mobile game maker Krafton joined the group—but South Korean entertainment company CJ ENM’s stake reveals AmazeVR’s plans to expand into K-pop world.

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