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

🔦 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 -

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.

🏰 Disney's Epic Investment Stands Out Amidst Gaming Industry Layoffs

Jun 06 2024

🔦 Spotlight

In the midst of widespread gaming industry layoffs, a glimmer of positive news emerges as Disney announces a significant move: a $1.5 billion investment in Epic Games. 🏰💰🐭

Image Source: Disney

Disney's $1.5 billion investment in Epic Games, disclosed late Wednesday, signals a strategic alignment aimed at expanding the success of "Fortnite." The deal enhances Epic's growth prospects after financial setbacks, including layoffs, and strengthens the partnership between the two companies. With Disney gaining a larger equity stake in Epic, the collaboration will broaden the integration of beloved Disney franchises like Marvel, Star Wars, Pixar, and Avatar into the game, potentially boosting its appeal and longevity. This significant investment underscores Disney's commitment to interactive entertainment and signifies a shift towards games as a primary revenue stream, aligning with the growing trend of digital engagement among younger demographics. Moreover, the potential for crossover sales of physical Disney products within "Fortnite" and the exploration of new content distribution channels are just some of the opportunities arising from this partnership.

For LA tech, the Disney-Epic Games partnership represents a validation of the region's burgeoning tech and gaming ecosystem. The substantial investment in Epic, who maintains a large Los Angeles office with 1,000+ employees (according to LinkedIn), reflects confidence in the LA’s talent pool and innovation potential. Additionally, this partnership between two industry giants fosters an environment for further collaboration, investment, and growth within LA's tech sector. As Disney and Epic Games deepen their ties and explore new avenues for content integration and distribution, it not only elevates the prominence of LA as a tech hub but also stimulates economic growth and job creation in the region. This partnership highlights LA's unique position as a hub where technology and entertainment converge. With its ability to integrate diverse industries, LA is driving innovation and expansion in digital entertainment. 🚀💸🎮

🤝 Venture Deals

LA Companies

• ProducePay, a financing and marketplace platform for the fresh produce market, raised a $38M Series D led by Syngenta Group Ventures joined by Commonfund, Highgate Private Equity, G2 Venture Partners, Anterra Capital, Astanor Ventures, Endeavor8, Avenue Venture Opportunities, Avenue Sustainable Solutions, and Red Bear Angels. - learn more
• Blush, an invite-only dating app that drives users to local businesses on dates, raised a $7M Seed Round from individuals like Naval Ravikant. - learn more
• Mogul, a startup founded last year that provides an overview of an artist's royalty earnings and identifies areas where money is owed but has not yet been collected, raised a $1.9 million seed round from Wonder Ventures, United Talent Agency, AmplifyLA, and Creator Partners. - learn more
• Avnos, a hybrid direct air capture startup, raised a $36M Series A led by NextEra Energy and joined by Safran Corporate Ventures, Shell Ventures, Envisioning Partners, and Rusheen Capital Management. - learn more
• AI.fashion, startup whose mission is to help retailers enhance the online shopping experience by providing consumers with virtual try-ons and personalized fashion recommendations, raised a $3.6M Seed Round led by Neo. - learn more
• Suma Wealth, startup that aims to demystify financial topics and provide culturally relevant content, virtual experiences, and resources to help Latino users navigate financial challenges and opportunities, raised a $2.2M Seed Round . Radicle Impact led, and was joined by Vamos Ventures, OVO fund and the American Heart Association Impact Fund. - learn more
• 222, a startup that helps users discover their city and meet new people through unique social experiences, raised a $2.5M Seed Round. Investors included 1517 Fund, General Catalyst, Best Nights VC, Scrum Ventures, and Upfront Ventures. - learn more
• LimaCharlie, a security operations cloud platform, raised a $10.2M Series A led by Sands Capital. -
• Polycam, an app that uses a smartphone’s sensors to capture 3D scans of objects, raised an $18M Series A co-led by Left Lane Capital and Adjacent, and joined by Adobe Ventures and individuals like Chad Hurley and Shaun Maguire. -learn more.

LA Venture Funds

• M13 co-led a $6.5M Seed Round for Code, a micropayments startup building upon the kin (KIN) cryptocurrency. - learn more
• Wonder Ventures has garnered $102 million in fresh capital commitments. -

Actively Raising

• ReelCall, Inc., an entertainment technology company focused on powerful apps and platforms that help build and maintain the professional network of connections vital to career growth, is raising a $850K Pre-Seed Round. - learn more
• CZero, a startup building software to decarbonize logistics for logistics businesses and goods business through a vetted marketplace and optimization software. - learn more
• Couri, a technology startup addressing last-mile delivery issues, is raising a $450K Pre-Seed Round at a $2.2M post money valuation. - learn more
• Sweetie, a marketplace to help people plan date nights, is raising a $1.5M Pre Seed Round. -
• StartupStarter, an investment platform that provides real-time data and analytics on startups, is raising an $850K Angel Round. - learn more

If you’re a founder raising money in Los Angeles, give us a shout, and we’d love to include you in the newsletter!

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.

Venture Waves, Climate Tech Wins, and Silicon Beach's Ongoing Evolution

Jun 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.

Image Source: Anduril

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.

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.

🚀 SpaceX gears up for another stellar year, active raises, and more

Jun 06 2024

Happy Friday Los Angeles! You made it through the first week of 2024!

🔦 Spotlight

Elon Musk may be a divisive (albeit entertaining) figure, but the continued success of SpaceX is pivotal for the aerospace industry in Los Angeles and more broadly around the world.

Image Source: SpaceX webcast

What happened with SpaceX in 2023?

• Elon Musk challenged Facebook founder, Mark Zuckerberg to a cage fight.
• SpaceX launched 96 successful missions with its Falcon series of rockets, a 57% increase over its previous annual record.
• SpaceX conducted two test flights of the largest and most powerful rocket ever built, Starship.
• Roughly two-thirds of SpaceX's launches in 2023 were devoted to building out Starlink, the company's satellite-internet megaconstellation.
• Isaacson’s Elon Musk biography was published in September including everything from Musk’s tumultuous relationship with his father to his work ethic and “demon mode”.

Moving forward what can we expect from SpaceX and its controversial founder? Continued innovation pushing the aerospace industry to new limits? Yes. More drama? Without a doubt.

Here is some of what is to come in 2024:

• SpaceX has already deployed direct-to-smartphone satellites in its first launch of 2024.
• Bill Gerstenmaier, SpaceX's vice president of build and flight reliability, announced that they are looking to increase flight rate to 144 flights during 2024.
• SpaceX will launch 5 astronaut missions in 2024 if everything goes to plan.
• Starlink will continue to build out the company’s satellite-internet megaconstellation in 2024 as they have permission to deploy double the current number of satellites in orbit.
• SpaceX is working to get other Starship vehicles ready, in keeping with the company's development philosophy, which prioritizes frequent test flights and rapid iteration.
• SpaceX is facing a complaint issued by a regional office of the National Labor Relations Board, for illegally firing employees in 2022 for circulating a letter critical of the company’s founder and chief executive, Elon Musk.

🤝 Venture Deals

Just Announced

Check back next week!

LA Exits

• CG Oncology, an Irvine, CA-based developer of immunotherapies for bladder cancer, filed for a $100M IPO. It plans to list on the Nasdaq (CGON) with Morgan Stanley as left lead underwriter, and has raised around $317m in VC funding. - learn more
• McNally Capital agreed to sell Advanced Micro Instruments, a Costa Mesa, CA-based maker of gas analyzers and sensing technologies, to Enpro (NYSE: NPO). - learn more

Actively Raising

• ReelCall, Inc., an entertainment technology company focused on powerful apps and platforms that help build and maintain the professional network of connections vital to career growth, is raising a $850K Pre-Seed Round. - learn more
• CZero, a hard-tech startup that is developing a technology for decarbonizing natural gas, is raising a $1.5M Seed Round. - learn more
• Couri, a technology startup addressing last-mile delivery issues, is raising a $450K Pre-Seed Round at a $2.2M post money valuation. - learn more
• Sweetie, a marketplace to help people plan date nights, is raising a $250K Angel Round. -
• StartupStarter, an investment platform that provides real-time data and analytics on startups, is raising an $850K Angel Round. - learn more

If you’re a founder raising money in Los Angeles, give us a shout, and we’d love to include you in the newsletter!

📅 LA Tech Calendar

Sunday, January 7th

• LA Coffee Club x Popl - "Networking Gone Wild" Mansion Party & Panel - Join 310 Coffee Club for a panel discussion and networking in Beverly Hills. The panel will be discussing "Networking Tactics to 2x your Potential" with founders & CEOs including Jason Alvarez-Cohen of Popl, Nathan Green of Kin, Rory Garton-Smith of Checkmate, Christina Galbato of Create Her Empire, and Casey Adams ofListener.com!

Wednesday, January 10th

• Startup Cafe: Networking with a Kick - Entrepreneurs, Startups, and Tech Enthusiasts join together to meet and connect with like-minded people, industry professionals and investors, while enjoying a nice cup of coffee in Venice at The KINN. This week’s interactive discussion about AI’s evolution in entertainment will feature Dr. Sam Khoze and Rachel Joy Victor.
• Venice Tech Happy Hour- Join Startup Coil and FoundrHaus Wednesday evening and enjoy the sunset from the rooftop, grab a bite overlooking Abbot Kinney, and mingle with other tech enthusiasts and entrepreneurs by the bar on the patio.

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

📙 What We’re Reading

• Tune in to TenOneTen Partner Minnie Ingersoll’s conversation with Josh Porter, co-founder of FirstLook Partners. Josh explains why he thinks smaller funds make the best investment opportunities. He has seen hundreds of decks and digs in on how to evaluate funds and his unique approach to co-investments. - listen here
• Fisker will add dealerships to EV sales model. -
• 4 Predictions for AI in 2024. -

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.