🧬 XPRIZE's $100M+ Competition to Revolutionize Human Aging

🔦 Spotlight

Culver City-based XPRIZE, an organization known for orchestrating large-scale incentive competitions aimed at resolving humanity's most significant challenges, just launched a new 7-year global competition, XPRIZE Healthspan. The prize comprises a total of $111 million, including both the prize purse ($101M) and a bonus award. 🕰️🧬🏆

Image Source: EINPresswire

The monumental $101M Healthspan competition aims to transform aging by incentivizing teams to develop therapies that restore muscle, cognition, and immune function by a minimum of 10 years in individuals aged 65-80 within just one year.

This is the Mt. Everest of XPRIZE competitions, fueled by the pressing need to bridge the gap between increasing life expectancy and the quality of health as we age. With global life expectancy rising but healthy years not keeping pace, the competition targets aging with a focus on proactive, accessible treatments utilizing exponential technologies like AI, gene therapy, and cellular medicine. The goal is to democratize health and create a future where healthy aging is accessible to everyone, making us all forever young.

The competition, supported by Co-Title Sponsors Hevolution Foundation and SOLVE FSHD, seeks to revolutionize aging treatments by shifting focus from traditional reactive medicine to proactive therapeutics targeting biological aging.

Think you have what it takes to win $111M? You can register on the XPRIZE website here. Good luck!💰🔬🚀

🤝 Venture Deals

LA Startups

• Mozaic, a startup that helps creators such as musicians, YouTubers, and Twitch streamers manage payments and split revenue among collaborators for different projects, raised a $20M Series A led by Volition Capital. - learn more
• HeyGen, a generative AI avatar creation app, raised a $5.6M funding round led by Conviction Partners. - learn more

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✨Featured Event ✨

It’s that time of year again!

Our friends at AILA are hosting the third annual #LongLA Holiday Party on Tuesday, December 12th from 6-11pm at the Pluto Penthouse on Wilshire.

The #LongLA Holiday Party is supported by a syndicate of LA-based organizations to celebrate the holidays and give back to the local community. Besides an epic party with tacos, drinks, and groovy tunes, we also host a food, toy, clothing, and gas gift card drive, benefiting LA Regional Food Bank, Children’s Hospital LA, Midnight Mission, and Safe Parking LA.

Earlybird tickets are on sale now!

Want your event featured? Shoot us an email!

📅 LA Tech Calendar

Tuesday, December 5th

• The Carbonauts Sustainability Cocktails Arts District - Join co-hosts Graham Hill (Founder and CEO, The Carbonauts) and Mike Wallace (Chief Decarbonization Officer, Persefoni) for delicious cocktails, a bite to eat, and conversations with other passionate sustainability advocates.!

Wednesday, December 6th

• Startup Arena - Join Startup Coil and other investors and founders for on-stage pitches, an investor panel and presentation, and networking in Santa Monica.
• Techstars LA & Space VIP Investor Showcase and Expo - Join Techstars LA at 4pm PT on Wednesday, December 6th to meet and speak with their 23 amazing companies at the Petersen Automotive Museum! This reception is a direct follow-up of their virtual Demo Day hosted by Kernal the morning of December 6th.

Thursday, December 7th

• Amazon Ads Festive Fête: A Holiday Mixer - Amazon invites local marketing & agency leaders in the LA area to a festive gathering at TopGolf. Enjoy an afternoon of networking, food & drinks, and lively discussions to ring out the year. Secure your spot now as space is limited!

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

📙 What We’re Reading

• Tune in to a conversation between Will Weisman, Founder of KittyHawk Ventures, and Minnie Ingersoll, Partner of TenOneTen Ventures, as they explore the realm where future tech intertwines with the quest for immortality! - listen here
• Joe Rogan, Alex Cooper, and Dr. Andrew Huberman named as Spotify’s Top Podcasts Globally in 2023. -
• Check out American Inno’s list of female founders you should know about! -

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.

Relativity Space targets more funding, Marvel Snap developer secures $100M

Jun 06 2024

Happy Friday Los Angeles!

🔦 Spotlight

Two companies are surging forward in Los Angeles’ most prominent tech industries, aerospace and gaming.

Long Beach-based Relativity Space, known for launching the first 3D-printed rocket, is reportedly securing additional funding to maintain its valuation at $4.2 billion. The funding round is led by existing investors Bond Cap and Social Capital, indicating ongoing confidence in Relativity Space's approach to aerospace manufacturing. The company's success highlights the transformative potential of 3D printing in the space industry, symbolizing a dynamic and rapidly evolving era in private space exploration.

Image Source: Steam

Irvine-based game development studio Second Dinner, not to be confused with second breakfast from Lord of the Rings, known for the massive success of Marvel Snap secured a $100M Series B investment led by LA-based, Griffin Gaming Partners. With 22 million+ downloads and $200 million+ in revenue since its 2022 launch, MARVEL SNAP continues to thrive, and Second Dinner plans to use the investment to develop new titles, incubate original IP, further expand globally, and “buy a lot of boba".

🤝 Venture Deals

Just Announced

• Second Dinner, a five-year-old gaming studio based in Irvine, behind Marvel Snap, a digital card game, raised a $100M Series B round led by Griffin Gaming Partners. -learn more
• Sway (formerly Returnmates), a technology company enabling a customer-centric delivery and return experience, raised a $19.5M Series A led by 7GC. -learn more
• Halogen Ventures participated in a $5M Series A for WTHN, a wellness startup that offers products based on traditional Chinese medicine. -learn more
• Fika Ventures participated in an $8M Seed Round for Dispatch (formerly OneAdvisory), a wealth technology company that enables effortless client data management for registered investment advisors. -learn more

LA Exits

• TTM, an El Segundo, Calif.-based provider of thermoformed and flexible packaging solutions for foodservice, food production, and grocery was acquired by AmerCareRoyal. - 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 14th

• VR Creators Hackathon hosted by DeoVR - A day of skill-building activities on VR filming and editing. The event will feature speakers covering hardware, editing methodologies, and immersive filming concepts.

Wednesday, January 17th

• LA Founders & Investors - AI LA's first event of 2024 to bring together founders and investors in AI. The night will start with networking followed by a fireside chat with two special guests.

Thursday, January 18th

• Los Angeles Startup Arena - An afternoon in Santa Monica filled with startup pitches, an investor panel and presentation, and investor and founder networking.
• Panel + Happy Hour: Raising Capital in 2024 - This event, hosted by the Greater Los Angeles Tech and Entrepreneurship Group, is about preparing entrepreneurs for 2024. In it they will talk about the current fundraising environment, and what to expect going into Q1.
• S*xTech Mixer @XBIZ LA - Come meet the S*xTech community in the heart of Los Angeles! Romance, dating, sexual wellness, intimacy, privacy, communication, safety - all of it is being innovated today across the $100B+ industry.

Saturday, January 20th

• The Future of Gaming: Opportunities in Connected Ecosystems - Join gaming enthusiasts and hear from speakers touch on the three foundations shaping the next phase of gaming technology: game transactions, privacy and security; authorship, generative AI, and new IP models; and decentralization, distribution, and extended gameplay. After the panel discussion there will be audience Q&A along with networking afterward.

Wednesday, January 24th

• The Female Funders Club - Join this monthly networking event Wednesday evening in Santa Monica and connect with other tech-oriented investors, wealth managers, asset managers and women who are interested in starting their tech investment journey.

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

📙 What We’re Reading

• California is looking to reduce traffic with the help of AI. -
• Netflix Games gains traction with installs up 180% year-over-year in 2023, thanks to GTA and others. -learn more

🏰 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.