🛍 Consolidation Begins in Live Shopping with Popshop Live Acquisition

🔦 Spotlight

LA-based Popshop Live, a mobile live shopping marketplace was acquired this week by CommentSold, a Huntsville, Alabama-based live selling technology provider. Never heard of live shopping? Fear not, you are in good company. Less than a third of US adults have heard of live shopping. Prepare to be ahead of the curve. 🎥 🛍️ 💸

Live shopping combines real-time video streaming with e-commerce, enabling viewers to watch product presentations, interact with hosts, and make purchases instantly during the stream - similar to TV-based QVC but online or in an app.

Live shopping is growing quickly in the U.S., but it’s not nearly as popular here as it is in China, where it saw $514 billion in sales in 2022, representing 17% of all e-commerce sales. U.S. live shopping is expected to top $31B this year, representing less than 3% of the overall e-commerce market. Popshop Live was a beneficiary of investors’ hopes that live shopping would grow quickly here to match its penetration in China.

Prior to its acquisition, Popshop Live had raised $24.5 million, most recently at a $100m valuation, from A-list investors including Benchmark, M13, Progression Fund, and many others. Unfortunately for Popshop Live’s investors and team, the company struggled to manage cash in the tougher venture environment of 2022 and 2023, and it doesn’t seem likely the acquisition generated much in terms of financial rewards, though terms were not disclosed.

The good news for creators is that this merger creates a more comprehensive platform that combines CommentSold's SMB-focused e-commerce capabilities with Popshop Live's app-based marketplace and offers creators of all sizes access to a suite of features, including state-of-the-art live streaming software, dropshipping, inventory management, and an easy-to-onboard marketplace.

Popshop Live’s closest competitor, LA-based Whatnot, is the big fish in the U.S. live shopping market. Focused on collectibles like Funko Pop dolls and Pokemon cards, it has raised $485 million from investors like CapitalG, DST Global, Andreessen Horowitz, Redpoint, Y Combinator and others. Whatnot seems to be experiencing none of Popshop Live’s growing pains, as it ranked #9 on the a16z marketplace 100 this year, sitting alongside more established marketplace leaders like Instacart and SeatGeek. In addition to pure-play attempts like Whatnot and Popshop Live, tech giants have dabbled in the space, with Amazon pushing Amazon Live while Instagram Live recently discontinued live shopping after a splashy release in 2020.

With the ups and downs of the last few years, it remains to be seen if live shopping with remain a fairly niche market in the U.S., or if we’ll all be buying our next big purchase from our favorite creators.

🤝 Venture Deals

LA Startups

• Lex, a months-old AI-powered writing tool raised a $2.75M Seed Round led by True Ventures. -
• Crate, an AI-powered platform that gives personalized product recommendations raised a $5M Seed Round from MaC Venture Capital, Bessemer Venture Partners, UpFront Ventures and others. - learn more
• Massdriver, an extendable cloud ops platform, raised an $8M funding round led by Builders VC and joined by 1984 Ventures, YC, Uncorrelated Ventures, Page One Ventures, Soma Capital and Hack VC. - learn more
• Mosh, a maker of brain health-focused nutritional products, raised a $3M Series A led by Main Street Advisors and joined by Joyance Ventures, The Lab Capital Advisors, Verso Capital and Entrepreneur Ventures. - learn more
• LighthouseAI, a provider of pharma-supply chain compliance tools, raised a $2.3M Seed Round led by Healthy Ventures and joined by Bertelsmann Next. - learn more
• Ghost, a B2B marketplace for surplus inventory, raised a $30M Series B led by Cathay Innovation and joined by insiders Union Square Ventures, Equal Ventures and Eniac Ventures. - learn more
• Jinx, a dog food brand, raised a $17.9M Series B co-led by The Merchant Club and Align Ventures and joined by insiders AF Ventures and Era Ventures, and the Range Group. - learn more

LA Funds

• ScribeUp, a subscription management startup, raised a $3M Seed Round from Santa Monica-based Mucker Capital. - learn more

✨Featured Event✨

Plug In South LA is hosing its Accelerator Cohort 4 Founder Showcase on September 14th.

Hosted by our friends at Plug In, this event will showcase Early Stage Black and Brown Founders rolling out new service and platform solutions in Digital Health/Healthcare Tech, FinTech, Digital Media, PropTech, and EdTech.

🚀 For Early Stage Investors looking to diversify their portfolios with high-potential companies led by Black and Brown Entrepreneurs, this showcase is a must-attend. We also extend a warm welcome to the LA Tech community, including LPs, Corporate Executives & Foundations, and Family Offices.

🎟️ Secure your spot now and immerse yourself in a night of innovation, inspiration, and boundless opportunities. Register for the Plug In Accelerator Cohort 4 Founder Showcase here.

📅 LA Tech Calendar

Wednesday, August 30th

• GENERATIVE LA—LIGHTSPEED X SCOPELY X ACTIVISION 🗽 - Bringing together local founders, engineers, designers and product leaders building the future of AI!

Thursday, August 31st

• LA Tech Happy Hour + Product Managers Assoc. of LA🗽 - Meant to broaden LA tech networks away from laptops! Two tenured LA tech recruiters from Sharp Decisions will be in attendance.
• Pathways to Progress: Advancing AI Literacy in Education and The Workforce - Panel focused on the integration and evolution of AI literacy across the educational spectrum.
• Female Founder and Investor Walk!🗽 - Bringing female entrepreneurs and seasoned investors together for an evening walk around Echo Park Lake!

Other events to add to the calendar

🗽 - Free

Have an awesome event coming up? Reach out to be featured on next week’s Newsletter!

🎧 What We’re Listening To

• Listen to an engaging conversation between Minnie Ingersoll, Partner at TenOneTen, and Brett Queener, Managing Director at Bonfire Ventures. This insightful interview covers a wide array of topics, ranging from practical operational insights to Queener's unique experiences growing up in diverse countries. - listen here

📙 What We’re Reading

• Elysian Park Ventures hosted a portfolio company summit at Dodger Stadium -
• 25% of Grindr users are using the app, known for its association with hookups, for networking purposes -
• Federal judge dismisses an inventor’s attempt to copyright artwork produced by AI -
• Newzoo’s report on the global games market is favorable to the numerous video game publishers and developers headquartered in LA -

Love our newsletter? Share it through your social channels!

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.

🚗 Toyota Launches H2HQ in Advanced Gardena

May 10 2024

🔦 Spotlight

Image Source: Toyota

Toyota has transformed its facility in Gardena, CA, into a hydrogen research and development center to capitalize on the expanding market for hydrogen technology in California. With three decades of experience in hydrogen-powered mobility, Toyota is aligning with California's efforts to transition to fuel cells, particularly in the trucking and stationary power sectors. The facility, now named North American Hydrogen Headquarters, will house around 50 engineers and specialists focused on advancing both vehicle and stationary power applications. The revamped office space will serve as a hub for research, development, and commercialization of hydrogen-related products and technologies. Additionally, they have plans to expand the campus with features like a flexible microgrid and sustainable education center for people to learn more about sustainability and hydrogen's role in it. Toyota's President and CEO, Ted Ogawa, emphasizes their commitment to scalable, zero-emission technology and reducing carbon emissions through real-world products like the Mirai fuel-cell car.

Despite challenges such as a shortage of hydrogen refueling stations, Toyota is leveraging its resources to scale up hydrogen technology. The company operates a hydrogen stationary power at its Long Beach port facility, using biomass waste gas to produce clean hydrogen. California's stringent regulations, including requiring newer trucks and buses and eventually banning all internal combustion trucks by 2036, are driving the adoption of clean technologies..

🤝 Venture Deals

LA Companies

• Mother Science, a biotech skincare brand, raised a $3.5M Funding Round led by Greycroft. -
• Rainmaker, a cloud-seeding startup, raised a $6.3M Seed Round from Long Journey Ventures, Day One Ventures, Tamarack Global, 1517 Fund, Starship VC, Champion Hill Ventures, Garry Tan, and Balaji Srinivasan. - learn more
• Elementary, an AI-powered machine vision software developer, raised an undisclosed amount from Rockwell Automation. - learn more

LA Venture Funds

• Joyful Ventures co-led a $2.3M Pre-Seed Round for Maia Farms, a startup that specializes in producing and supplying mycelium-based products primarily targeting the meat alternatives market. - learn more
• Magic Fund participated in a $1.9M Funding Round for Renda, a startup that offers African businesses services such as warehousing, fulfillment, and last-mile delivery. - learn more
• Fika Ventures co-led a $4.1M Seed Round for Volta, a startup that focuses on providing financial institutions with tools and services to manage and optimize their cryptocurrency portfolios. - learn more
• OCV participated in a $50M Series B for Rad AI, a provider of AI-guided tools for radiologists. -
• Unlikely Capital Partners participated in a $14M Series A for Backpack Healthcare, an online provider of pediatric mental health care. - learn more
• B Capital led a $20M Series B for Sift Healthcare, an AI-powered healthcare payment solutions company. - learn more

LA Exits

• Bar Bakers, a nutritional snack maker, was acquired by TruFood Manufacturing. -

🤖 🏥 How Robots and Artificial Intelligence Are Saving Lives in Los Angeles Hospitals

May 03 2024

🔦 Spotlight

Image Source: Children’s Hospital Los Angeles

The integration of robots and artificial intelligence (AI) is transforming healthcare in Los Angeles, with hospitals increasingly employing these technologies to enhance patient care and operational efficiency. According to a Morgan Stanley report from August 2023, 94% of healthcare companies are utilizing AI or machine learning (ML), with the industry's budget allocation for AI and ML projected to double from 5.7% in 2022 to 10.5% this year. These technologies are being used for various applications, from autonomous robots delivering medications to AI systems predicting emergency room wait times and identifying life-threatening infections like sepsis (the third most common cause of death in U.S. hospitals).

Institutions like City of Hope are pioneering AI applications in healthcare, such as real-time clinical decision support tools. City of Hope's sepsis prediction model utilizes AI to monitor patients and detect subtle changes in their vitals, providing early alerts to medical staff, which has led to decreased ICU admissions and improved patient outcomes. Similarly, Antelope Valley Medical Center has implemented autonomous robots like Diligent Robotics Inc.'s Moxi to streamline medication and lab deliveries, reducing staff workload and enhancing efficiency.

Cedars-Sinai is leveraging AI through its CS Connect app, utilizing a chatbot to interact with patients and assist in scheduling appointments and providing diagnostic insights to physicians. Moreover, the hospital is actively combating AI bias to ensure fair and accurate treatment across patient demographics. UCLA Health's Robotic Surgery program, led by Dr. Mark Girgis, has been utilizing robotic surgery for over seven years, offering enhanced recovery, less pain, and shorter hospitalizations for patients. Girgis highlights the benefits of competition driving down costs and improving accessibility to robotic surgery platforms, such as the Da Vinci surgical systems.

The widespread adoption of AI and robotics in Los Angeles hospitals not only represents significant advancements in healthcare but also offers opportunities for the city's tech industry. Hospitals like Cedars-Sinai and Children's Hospital Los Angeles are leading the way with innovative AI-driven solutions. As a result, LA has the potential to attract top health tech talent, bolstering its growing health tech sector.

🤝 Venture Deals

LA Companies

• Diddo, a startup that uses computer vision to identify products in videos and enables viewers to purchase products seen on screen without leaving the video, raised a $2.8M Seed Round led by Link Ventures - learn more
• Shinkei Systems, a developer of fish-processing tech, raised a $6M Seed Round led by Cantos and joined by 8VC, Impatient Ventures, Susa/Humba Ventures, Carya Venture Partners, Ravelin Capital, Red & Blue Ventures, and Undeterred Capital - learn more
• Moso, a shop-to-earn crypto rewards startup, raised a $2M Seed Round from Symbolic Capital, Dao5, Coinlist, and Polygon Ventures - learn more
• Holograph, a startup whose platform enables the creation and management of tokens that can operate across multiple blockchain networks, raised an $11M funding round co-led by Mechanism Capital and Selini Capital, with Northrock Capital, Arca, Courtside Ventures, and Hartmann Capital also stepping up - learn more
• LiNova Energy, a developer of polymer cathodes for batteries, raised a $15.8M Series A led by Catalus Capital and joined by Saft - learn more
• Altruist, a custodian for RIAs, raised a $169M Series E led by Iconiq Growth and joined by Granite Capital Management in addition to insiders Adams Street Partners and Sound Ventures - learn more

LA Exits

• Insight Treatment Programs, a provider of teen outpatient programs for mental health and addiction treatment in Southern California was acquired by Torrance, CA-based Your Behavioral Health, a portfolio company of Comvest Partners - learn more
• SameSky Health, a patient engagement company merged with Tampa, FL-based GroundGame.Health, a startup linking community-based organizations with health plans and providers. After they combined the company raised a $17M funding round led by 7wireVentures - learn more
• Viking Holdings Ltd, a cruise operator based in Woodland Hills raised $1.5B in its IPO. On Wednesday Viking (VIK) closed at $26.10, 9% higher than the IPO price ($24) - learn more

📖 What We’re Reading

• Triller Corp., the Hollywood rival to TikTok, is being bought in an astounding $4 billion deal by AGBA Group Holding Ltd - learn more
• Despite the somewhat bleak gaming venture landscape, Santa Monica's Griffin Gaming Partners gears up for expansion, tapping into Hollywood's top talent and exploring new avenues in IP licensing and investment - learn more
• Sony and Apollo bid $26 billion for Paramount Global, intensifying the competition for the renowned film and TV company - learn more
• Rivian will receive an $827 million incentive package from Illinois to expand its manufacturing plant - learn more
• SAG-AFTRA partners with Nielsen for third-party streaming content measurement, ensuring transparency and accuracy in tracking hits on platforms like Netflix and Prime Video - learn more
• New platform, ProdPro Network, aims to help Hollywood crew members find work -

🕔😃 Tech Happy Hour Guide

May 01 2024

Good Afternoon!

Given the challenging times in the startup and venture capital world, we wanted to lift spirits (pun intended) with some of the LA tech community’s favorite happy hours on the Westside, offering a chance to take a break, network, and relax. So, without further ado, here are some top picks for happy hours on the Westside.

Ester’s Wine Shop

Image Source: Esters Wine Shop

Neighborhood: Santa Monica

Address: 1314 7th Street Santa Monica, CA 90401

Happy Hour Details: Esters Wine Shop’s happy hour runs Tuesday through Saturday from 4 to 6 p.m. and all day Sunday and Monday. A selection of wines are $10 by the glass and the special happy hour cocktail of the day is $14. Happy hour bites range from $3.5 oysters to a $23 charcuterie plate for two.

What You Can Expect: A sophisticated yet unpretentious wine bar with a diverse selection of wines, delicious food, and knowledgeable, friendly service in a beautiful and inviting atmosphere.

The Waterfront Venice

Image Source: The Waterfront Venice

Neighborhood: Venice

Address: 205 Ocean Front Walk Venice, CA 90291

Happy Hour Details: The Waterfront’s happy hour runs weekdays from 3 to 7 p.m. A selection of cocktails, beers, seltzers are buy one get one free including but not limited to espresso martinis, margaritas, and palomas.

What You Can Expect: Delicious margaritas, ample outdoor seating just steps from the beach, and a Venice vibe that includes a gaggle of post-work tech bros.

Santa Monica Brew Works

Image Source: The Infatuation

Neighborhood: Santa Monica

Address: 1920 Colorado Avenue Suite C, Santa Monica, CA 90404

Happy Hour Details: Santa Monica Brew Work’s happy hour runs Monday through Thursday from 5 to 6 p.m.

What You Can Expect: A spacious coastal vibe despite the location with refreshing beers and the added bonus of New York City's famous Emmy Squared craft pizza operation.

Birdie G’s

Image Source: Birdie G’s

Neighborhood: Santa Monica

Address: 2421 Michigan Ave, CA 90404

Happy Hour Details: Birdie G’s happy hour, also known as “Early Birdie’s Happy Hour” runs daily from 5 to 6 p.m. A selection of wines and cocktails are $12 and featured beers are $8. Happy hour bites range from $5 lavender almonds to $12 reuben fries.

What You Can Expect: A stylish industrial setting with a unique twist on comfort food that stands out from typical upscale dining options in LA.

Zinqué - Venice

Image Source: Eater LA

Neighborhood: Venice

Address: 1440 Lincoln Blvd, Venice, CA 90291

Happy Hour Details: Zinque Venice’s happy hour runs Monday through Friday from 4 to 6 p.m. All cocktails and wines by the glass are $12. Happy hour bites let you choose 3 from their list of tapas for $20.

What You Can Expect: A vibrant and airy, low-key neighborhood restaurant with french-inspired dishes bustling with people in meetings or out grabbing a meal with friends.

Maple Block Meat Co.

Image Source: TimeOut

Neighborhood: Culver City

Address: 3973 Sepulveda Blvd, Culver City, CA 90230

Happy Hour Details: Maple Block’s happy hour runs Tuesday through Friday from 5 to 6 p.m. and Monday from 5 to 9 p.m. Drinks are buy one get one free. Happy hour bites range from $7 chopped pork grilled cheese to $12 brisket nachos.

What You Can Expect: A modern, fantastic BBQ with standout brisket and a varied menu of comfort foods in a laid-back, approachable atmosphere.