Wavemaker 360 Launches New $64M Fund for Health Care Startups

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Wavemaker 360 Launches New $64M Fund for Health Care Startups
Photo by CDC on Unsplash

Despite a venture funding slowdown that has not spared the health care and biotech sectors, one Los Angeles fund is looking to back its next crop of seed-stage health startups.

Wavemaker 360 Health, the Pasadena-based early-stage health care VC firm, announced on Thursday that it has closed its $64 million second fund—a haul nearly four times the size of its $17 million first fund, albeit smaller than the $100 million maximum target it set for itself two years ago. The new vehicle will look to invest in 40 to 50 early-stage startups mostly in the U.S. and across the health care spectrum, from digital health and pharma to medical devices and artificial intelligence.


“The health care industry might not be recession-proof—but the health care industry is about as recession-resistant as it gets,” Wavemaker general partner Jay Goss told dot.LA. “Human beings are always going to need health care. We have more and more health care products and services than ever before, and we have an aging population in this country.

The new fund will initially invest up to $1 million in each startup and add more over time, Goss said. Wavemaker has already deployed capital from the second fund to 15 startups; one of them, Seattle-based remote patient monitoring platform Alertive Healthcare, has already rewarded Wavemaker with an exit via its acquisition by Carbon Health last year.

The VC firm raised the $64 million fund from around 300 limited partners (LPs)—nearly quadrupling the 80 investors who contributed to Wavemaker’s first fund, which closed in 2019. Those LPs include health care organizations like the Long Beach-based SCAN Foundation, a charity dedicated to improving care for older adults, as well as industry executives and physicians. Goss described Wavemaker’s investors as the fund’s “secret weapon,” since they provide its portfolio startups with access to key connections at hospitals, insurance companies and other industry groups.

“It's harder to get those first three or four or five commercial successes under your belt as a health care entrepreneur,” Goss said. “So we have so much ability to help these startups by virtue of who our limited partners are. We flex that muscle all over the health care industry.”

Wavemaker, which launched in 2018, now has more than $85 million in assets under management across its two funds. The firm has invested in around 45 startups to date including Ready, Set, Food!, an L.A.-based food allergy startup that received a $350,000 investment from Mark Cuban on “Shark Tank” in 2020.

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LA Tech Week: Final Days • Coco’s bots, Anduril’s helmet AI, Impulse’s moon freight

🔦 Spotlight

Happy Friday Los Angeles,

Founders are closing out Tech Week, robots are getting a new research brain, space logistics are taking shape, and defense tech just moved mission command into a helmet.

Anduril’s EagleEye: mission command, heads up

Image Source: Anduril

Anduril introduced EagleEye, a helmet mounted system that puts maps, comms, sensor fusion, and on device AI directly in a warfighter’s line of sight, integrated with the Lattice stack. The goal is simple: less time looking down at a tablet and more decisions made at the edge.

Impulse Space: a practical path to lunar deliveries

Image Source: Impulse Space

Impulse outlined a two piece ride to the Moon. Its Helios stage ferries an Impulse built lander to lunar orbit in about a week, the lander detaches, then descends to the surface without in-space refueling. The company says each mission could carry about three tons and that starting in 2028 it could run two missions per year for roughly six tons total, filling the gap between today’s small CLPS deliveries and future heavy landers.

Coco Robotics: new lab, new chief AI scientist

Image Source: Coco Robotics

Coco named UCLA’s Bolei Zhou chief AI scientist and is launching a physical AI research lab to turn years of curbside driving data into faster, more autonomous sidewalk deliveries. Expect quicker iteration from data collection to local models on the bots.

LA Tech Week: last three days

We are down to the final few days of LA Tech Week 2025. If you are still slotting meetings or panels, use the rundowns to plan your route:

Friday's Event Lineup

Saturday’s Event Lineup

Sunday’s Event Lineup

Scroll for the most recent LA venture deals, funds, and acquisitions.

🤝 Venture Deals

      LA Companies

      • Second Nature, an AI role-play training platform for sales and service teams, raised $22M Series B led by Sienna VC with participation from Bright Pixel, StageOne Ventures, Cardumen, Signals VC, and Zoom (also a customer). The company will use the funding to expand operations and advance its platform, which generates AI-driven practice scenarios and feedback for enterprise clients like Oracle, Zoom, Adobe, Teleperformance, and Check Point. - learn more
      • Pelage Pharmaceuticals, a Los Angeles–based biotech developing regenerative treatments for hair loss, raised a $120M Series B co-led by ARCH Venture Partners and GV. Participants include Main Street Advisors, alongside Visionary Ventures and YK Bioventures; proceeds advance PP405, a topical small molecule that reactivates dormant hair-follicle stem cells, toward Phase 3 in 2026 following positive Phase 2a data. - learn more
      • Launchpad, an AI-first robotics company for factory automation, raised an $11M Series A to speed product development and meet demand across the U.S., U.K., and Europe. The round was co-led by Lavrock Ventures and Squadra Ventures, with participation from Ericsson Ventures, Lockheed Martin Ventures, Cox Exponential, and the Scottish National Investment Bank; it follows $2.5M in grant funding from Scottish Enterprise. - learn more
      • Mythical Games raised a Series D round, with a strategic investment from Eightco Holdings alongside ARK Invest and the World Foundation. The partnership focuses on human verification and digital identity in gaming, tapping Worldchain/Worldcoin’s Proof-of-Human infrastructure. The transaction is expected to close the week of October 20. - learn more
      • Electric Entertainment, the L.A. studio behind “Leverage,” “The Librarians,” and “The Ark,” secured a $20M investment from Content Partners Capital. The funding follows CPC’s launch of an investment arm in April 2024 and is aimed at supporting Electric’s growth across production and distribution. - learn more
      • Everyset raised $9M to launch Background Payroll, a SAG-AFTRA approved platform that automates timecards and payroll for background performers, including overtime, penalties, and premiums. The round was led by Crosslink Capital and Haven Ventures, and the company says studios such as Netflix, CBS, Apple TV, Sony, and Amazon already use its tools as it expands into fully integrated background payroll. - learn more
      • TORL Biotherapeutics raised $96M in Series C funding to advance TORL-1-23, its Claudin-6 targeted antibody-drug conjugate, through a pivotal Phase 2 study in platinum-resistant ovarian cancer and into a confirmatory Phase 3 program. The company also reported that updated Phase 1 data for TORL-1-23 will be presented at ESMO 2025, bringing total funding since its 2019 founding to more than $450 million. - learn more
      • The Plug, a plant-based liver health brand, raised $5M in a venture round of equity and debt to fuel marketing and retail expansion after rolling out its Pill Jar in June and entering all Total Wine & More locations nationwide in September. The company is keeping the round open for additional strategic investors and says it recently hit its first profitable month, is pursuing a partnership with a $500 million nutrition telehealth company, and is targeting a 40% boost to gross margins through a new operational milestone. - learn more

      LA Venture Funds

        • Clocktower Technology Ventures participated in MGT’s $21.6M Series B, an oversubscribed round led by Mubadala Capital with Tacora Capital and existing backers also joining. The AI-native commercial P&C neo-insurer for small businesses will use the capital to accelerate R&D, deepen vertical AI capabilities, and expand its E&S initiatives nationwide. - learn more
        • M13 participated in Daylight’s $75M financing, which combines $15M in equity led by Framework Ventures with a $60M project facility led by Turtle Hill Capital. Daylight is building a decentralized energy network that turns homes into mini power plants via a subscription model and crypto-enabled incentives, aiming to lower costs and dispatch battery power back to the grid. - learn more
        • Presight Capital co-led Peptilogics’ $78M Series B2, with Beyond Ventures participating, to fund a Phase 2/3 pivotal trial of zaloganan (PLG0206) for prosthetic joint infections. The raise brings Peptilogics’ total equity financing to about $120M and positions the company to begin the pivotal program in late 2025, pending approvals. - learn more
        • Patron participated in Ego AI’s $6.7M seed round to help the YC-backed startup launch human-like AI characters for games via its new character.world engine. The round also included Y Combinator, Accel, and Boost VC, and the capital will support research on Ego’s proprietary model, which combines small language models with reinforcement learning, plus partnerships in Singapore to scale compute and development. - learn more
        • Untapped Ventures participated in Woz’s $6M seed round, joining Cervin Ventures (lead), Y Combinator, Burst Capital, MGV, and the Lacob family. The funding will help Woz scale its platform that blends agentic AI with expert human oversight to deliver production-ready mobile apps for enterprises. - learn more
        • Perseverance Capital participated in Kailera Therapeutics’ $600M Series B, which was led by Bain Capital Private Equity. The funding advances KAI-9531, an injectable dual GLP-1/GIP agonist, into global Phase 3 trials by year end and supports a broader pipeline of oral and injectable obesity therapies. - learn more
        • March Capital participated in Lila Sciences’ $350M Series A, which lifts the company’s total funding to $550M. The capital will scale Lila’s AI Science Factories and commercialize its “scientific superintelligence” platform for partners across materials, energy, and biopharma. - learn more
        • Mucker Capital participated in Pear Suite’s $7.6M Series A, which was co-led by Rock Health Capital and Nexxus Holdings. The L.A. based company equips community health workers with an AI-powered platform and provider network, and it will use the funding to expand product development, grow its network, and support new Medicaid and Medicare health plan contracts. Other investors include Enable Ventures, The SCAN Foundation, Acumen America, Impact Engine, and the California Health Care Foundation. - learn more
        • Upfront Ventures participated in Renew’s $12M Series A, which was led by Haymaker Ventures with Goldcrest Capital and several Renew customers also investing. Renew’s AI-powered resident retention platform helps apartment operators automate renewals and prevent fraud, and the company says the new funding will scale the product and launch what it calls the industry’s first Resident Referral Network. - learn more
        • Acre Venture Partners co-led Ascribe Bio’s oversubscribed $12M Series A with Corteva to scale its natural crop protection platform and launch Phytalix, a broad spectrum “biofungicide without compromise.” The funding advances Ascribe’s small molecule technology derived from the soil microbiome toward commercial rollout, with participation from Syngenta Group Ventures, Trailhead Capital, Silver Blue, Cultivation Capital, and others. - learn more
        • Alexandria Venture Investments participated in Tr1X’s $50M financing, announced alongside FDA clearance of the IND for TRX319, an allogeneic CAR-Tr1 Treg cell therapy for progressive multiple sclerosis. The funding extends Tr1X’s runway into 2027 and supports a Phase 1/2a dose-escalation trial slated to start in early 2026, while the company continues its TRX103 studies in Crohn’s disease and other indications. - learn more
        • LFX Venture Partners participated in FleetWorks’ $17M funding, which supports the launch and expansion of its “always-on” AI dispatcher for the U.S. trucking industry. The round was led by First Round Capital with participation from Y Combinator and Saga Ventures, and the company says the capital will go toward hiring, commercial rollout, and product development. FleetWorks’ platform automates freight matching between carriers and brokers to speed up bookings and reduce manual calls, emails, and texts. - learn more
        • Clocktower Technology Ventures participated in Yendo’s $50M Series B. The fintech behind a vehicle-secured credit card will use the funding to expand its AI credit platform toward an inclusive digital bank that taps “trapped” consumer equity, aiming to unlock up to $4 trillion from assets like cars and homes for underserved borrowers. - learn more
        • Alpha Edison participated in TransCrypts’ $15M seed round. The company builds a blockchain-based verified-credentials platform to fight AI-driven fraud and plans to expand beyond employment verification into health and education records. - learn more
        • Alexandria Venture Investments participated in Nilo Therapeutics’ $101M Series A, which launched the company to develop medicines that modulate neural circuits to restore immune balance in disease. The round was led by The Column Group, DCVC Bio, and Lux Capital; Nilo also appointed Kim Seth, Ph.D., as CEO and plans to build out New York labs and advance preclinical programs. - learn more
        • Chapter One participated in Glue’s $20M Series A. Glue builds an “agentic team chat” platform that embeds MCP-powered AI directly in workplace messaging, with 35 in-app integrations and support for thousands more via custom MCP servers. The funding will help expand product development and infrastructure as Glue pushes this model to more teams. - learn more
        • StillMark participated in Meanwhile’s $82M raise, backing the Bermuda-regulated bitcoin life insurer as it expands bitcoin-denominated savings, retirement, and life insurance products for individuals and institutions. The round was co-led by Bain Capital Crypto and Haun Ventures with participation from Apollo, Northwestern Mutual Future Ventures, and Pantera Capital, and brings Meanwhile’s 2025 funding to $122 million after an earlier $40 million Series A. - learn more
        • Blue Bear Capital co-led Energy Robotics’ $13.5M Series A with Climate Investment. The Darmstadt-based company provides AI software that lets robots and drones autonomously inspect critical infrastructure, and it will use the funding to scale deployments across energy, chemical, industrial, and utility sites. Customers already include majors like Shell, BP, BASF, Merck, and E.ON, and the company reports more than one million inspections completed to date. - learn more
        • B Capital participated in EvenUp’s $150M Series E, which values the AI legal-tech company at over $2 billion. EvenUp builds AI tools for personal-injury law firms and plans to use the new capital to scale its platform and product suite; the round was led by Bessemer Venture Partners, with investors including REV (LexisNexis) and others. - learn more
        • WndrCo participated in Zingage’s $12.5M seed round to build an AI care-delivery platform for home-based healthcare. Zingage is rolling out “Operator,” which automates scheduling, staffing, billing, and compliance for home care agencies, and “Perform,” which boosts caregiver retention, with the new capital supporting product expansion and go-to-market. The round was led by Bessemer Venture Partners with additional investors including TQ Ventures and South Park Commons. - learn more
        • Alexandria Venture Investments participated in AeroRx Therapeutics’ $21M Series A, which was led by Avalon BioVentures with Correlation Ventures also investing. The funding advances AERO-007, a first-in-class nebulized LABA/LAMA for COPD, into late-stage clinical development aimed at patients who struggle with handheld inhalers. - learn more
        • Alexandria Venture Investments participated in Affinia Therapeutics’ $40M Series C, alongside lead investor NEA and new investor Eli Lilly, to advance its AAV gene therapy pipeline. Proceeds will fund an IND submission in Q4 2025 and initial clinical work for AFTX-201 in BAG3 dilated cardiomyopathy, with a Phase 1/2 trial targeted for Q1 2026. - learn more
        • Clocktower Ventures participated in Vycarb’s $5M seed round, which was led by Twynam with participation from MOL Switch, Hatch Blue, Idemitsu, and SGInnovate. The Brooklyn startup develops sensor-driven, water-based carbon capture and storage systems that convert CO₂ into stable bicarbonate, with the new funding aimed at scaling deployments at industrial sites. - learn more

        LA Exits

        • Empaxis Data Management was acquired by Communify, which is integrating Empaxis’ custodial and accounting data connections and operations expertise into its financial AI platform. The aim is to remove fragmented data so wealth and asset managers can deploy MIND AI apps like Client Stories and Portfolio Stories more quickly with cleaner, unified data. Communify also cites pre-integrations with over 175 market-data vendors to speed rollouts. - learn more
        • TrueCar is being acquired by founder-led Fair Holdings (Scott Painter) in an all-cash deal at $2.55/share (~$227M), with Painter set to return as CEO. A 30-day go-shop runs through Nov. 13, 2025; largest holder Caledonia supports the acquisition, which is expected to close Q4 2025 or early 2026 pending approvals. - learn more
        • Kate Somerville Skincare was acquired by Rare Beauty Brands, as Unilever moves to divest the prestige label it has owned for a decade. The deal includes the skincare and body-care lines as well as the brand’s Melrose Place clinic in Los Angeles; terms weren’t disclosed and closing is expected in Q4 2025 pending approvals. - learn more
        • 3GC Group was acquired by Pandoblox, combining 3GC’s enterprise IT operations and cybersecurity services with Pandoblox’s Themis AI data platform to form a unified, AI-ready data and IT operations offering for mid-market companies. The deal aims to solve fragmented data and IT workflows so growing businesses can get enterprise-grade intelligence, security, and support through a single partner. - learn more
        • The Free Press was acquired by Paramount, and co-founder Bari Weiss will become editor in chief of CBS News as part of the deal. Paramount says the move pairs CBS News’ scale with The Free Press’ voice, with Weiss reporting to CEO David Ellison and working to “modernize” the brand. - learn more

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              LA Tech Week 2025: Sunday’s Event Lineup

              Here's the Sunday, October 19th lineup for LA Tech Week 2025, organized by location so you can easily explore events that fit your goals and schedule. Dive in and see what’s happening near you!

              ARTS DISTRICT

              3:00 PM

              BEL AIR

              3:00 PM – 7:00 PM

              BURBANK

              6:30 PM – 9:30 PM

              CULVER CITY

              9:00 AM – 5:00 PM

              4:30 PM – 7:30 PM

              INGLEWOOD

              10:00 AM – 2:00 PM

              • Spinovation: The Future Is Femme, The Future is Frequency: See Details Here
                Sonder Impact, Black Women Spin, Sip & Sonder

              KOREATOWN

              12:00 PM – 3:00 PM

              MARINA DEL REY

              12:00 PM

              • Sunday Tech Brunch
                Sawubona

              MID CITY

              9:00 AM – 11:00 AM

              • Women in Cleantech Hike and Network: See Details Here
                Women in Cleantech and Sustainability

              SANTA MONICA

              9:00 AM

              10:00 AM

              3:45 PM

              4:00 PM – 7:30 PM

              • OFF THE HOOK Santa Monica Seafood Festival: See Details Here
                Spin PR Group, City of Santa Monica, Tech St.

              6:00 PM

              7:00 PM

              • Pritam: A Musical Legend - Live in Concert: See Details Here
                American South Asian Network

              7:00 PM

              • Building AI workflow editor in React with Workflow Builder SDK: See Details Here
                Workflow Builder

              7:00 PM

              8:00 PM

              • Unlock Apple's Corporate Advantage for your Startup!: See Details Here
                iStore by St. Moritz

              TOPANGA CANYON

              3:00 PM

              • Dreamore Hike and Picnic: LA Tech Week: *Invite Only*
                Dreamore

              VENICE

              10:00 AM – 12:00 PM

              • Coffee, Walk, and Schmooze: See Details Here
                JFE (Jews For Entrepreneurship) Network

              VIRTUAL (LA)

              10:00 AM

              • Level Up with LinkedIn: A Student’s Guide to Networking & Opportunities (Virtual Event): See Details Here
                FIMAC

              10:00 AM

              WEST ADAMS

              1:00 PM – 3:00 PM

              For updates or more event information, visit the official Tech Week calendar.

              Enjoy LA Tech Week 2025!

              Download the dot.LA App


              LA Tech Week 2025: Saturday’s Event Lineup

              Here's the Saturday, October 18th lineup for LA Tech Week 2025, organized by location so you can easily explore events that fit your goals and schedule. Dive in and see what’s happening near you!

              BEVERLY HILLS

              2:00 PM

              CENTURY CITY

              7:00 PM – 10:00 PM

              CULVER CITY

              9:00 AM – 5:00 PM

              10:00 AM – 11:30 AM

              1:00 PM

              DTLA

              7:00 PM

              • {MiniMax x Nakid x SkyPortalx}: TECH/MOTION/MUSIC/ART: See Details Here
                MiniMax (Hailuo AI)

              10:00 PM – 2:00 AM

              EL SEGUNDO

              10:00 AM

              • Venture on the Green: *Invite Only*
                BLCK VC

              4:00 PM

              INGLEWOOD

              7:00 PM

              • Valar Atomics, Durin and Discipulus Ventures - Night With A Nuclear Reactor: See Details Here
                Valar Atomics, Durin, Discipulus Ventures

              MARINA DEL REY

              8:30 AM

              12:00 PM – 3:00 PM

              5:00 PM

              • LOST iN Sunset Sail: Navigating the Tides of the Creator Economy & Media: See Details Here
                LOST iN

              PASADENA

              9:00 AM

              PLAYA VISTA

              2:00 PM – 4:00 PM

              SANTA MONICA

              7:00 AM

              9:00 AM

              • Pedal & Network: Tech Cyclists @ LA Tech Week 🚵: See Details Here
                Instafill.ai

              9:30 AM

              • Getty Center Guided Tour & (Optional) Photography Scavenger Hunt: See Details Here
                NEW MOON Impact Productions

              10:30 AM – 11:30 AM

              11:00 AM – 2:15 PM

              12:00 PM – 5:00 PM

              1:00 PM – 5:00 PM

              1:30 PM

              • Self-Defense in Court and the Streets: See Details Here
                Santa Monica Striking, Luri Inc.

              2:00 PM

              • SMARTUP 500: THE FIRST AT TECH WEEK LA - Launching the world’s first Startup Ranking: See Details Here
                Smart Times

              2:00 PM

              • NLPs (No Lame Panels) The Creator X Founder Rooftop Party: See Details Here
                Startup Village, Sanctuary

              3:00 PM – 4:00 PM

              4:00 PM – 6:30 PM

              • Just Do It?: Helping Founders Perform Like Olympians: See Details Here
                Elite Psychology Group

              5:00 PM

              6:00 PM

              6:00 PM – 9:00 PM

              6:00 PM

              6:00 PM – 9:00 PM

              • The Future of Hospitality: Poetry, Provenance & Passports: See Details Here
                Villa Kitchen, Airble, We Speak Dance, Techstars San Francisco

              7:00 PM

              • 🚀 Investor x Founder Open Mic Pitches: See Details Here
                Feathr, Los Angeles Fun Events

              7:00 PM

              • Life is a Pitch - LA Edition: *Invite Only*
                DeepMyst

              TOPANGA CANYON

              5:00 PM – 8:30 PM

              • Walk&Jam: Use AI to make art while hiking Topanga Canyon: See Details Here
                Formhaus llc, Wonderland Immersive Design

              TORRANCE

              1:00 PM – 4:00 PM

              • Crunches & Conversations Presented by The Differentials and KIS Training Studios: See Details Here
                The Differentials, KIS Training Studios

              VENICE

              1:00 PM – 4:30 PM

              • Beyond the Language Barrier: Exploring AI's Next Frontier: See Details Here
                Medusa AI

              VENICE BEACH

              8:00 AM – 12:00 PM

              • SŨRFED Club @ Venice Beach: Founders, Creators, Investors share the waves: See Details Here
                SŨRFED Club, Go Vitamins

              WEST ADAMS

              9:30 AM – 10:45 AM

              • Funders Shaping Democracy, AI & Media: See Details Here
                New Media Ventures, New Rising Ventures

              WEST HOLLYWOOD

              4:00 PM

              6:00 PM – 8:00 PM

              9:30 PM

              • Vibe Check Comedy Show, Tech Week Edition! @ Hollywood Improv: See Details Here
                Vibe Check Comedy

              For updates or more event information, visit the official Tech Week calendar.

              Enjoy LA Tech Week 2025!

              Download the dot.LA App


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