☢️👗Making Fashion Nuclear: LA-Based Startup Aims to ‘Decarbonize’ Fashion
By Christian Hetrick,
2024-05-29Global Nuclear Concepts is a pioneering LA-based company that aims to revolutionize the fashion industry by introducing a solution to address its staggering carbon emissions. Founded by Rickey Ruff, a visionary with extensive experience in the fashion and nuclear sectors, the company has unveiled the world's first Nuclear-Powered Carbon Offset specifically designed for the fashion industry.
Image Source: Global Nuclear Concepts
This innovative approach involves deploying micro-nuclear reactors at clothing factories worldwide, directly displacing the use of fossil fuels in the manufacturing process. By harnessing the power of nuclear energy, Global Nuclear Concepts seeks to decarbonize fashion manufacturing and significantly reduce the industry's annual carbon footprint of 1.7 billion tonnes. The company's mission extends beyond just offsetting emissions; it aims to create an inclusive, human-centered future by promoting environmental justice and addressing energy poverty. Through strategic partnerships and events like pop-up museums during Fashion Weeks, Global Nuclear Concepts is working to re-brand nuclear energy's perception and make it an accessible solution for global participation in the fight against climate change.
Ruff's background uniquely positions him to spearhead this ambitious initiative. Having worked in key roles at renowned brands like Ralph Lauren and Adidas, he possesses deep industry knowledge and relationships within the fashion world. Moreover, his engagement with the Swiss Federal Department of Foreign Affairs and cross-sectoral stakeholders at the UN and London Stock Exchange deepened his commitment to addressing the climate crisis. Inspired by the UN Sustainable Development Goals, Ruff launched Global Nuclear Concepts to provide a clear pathway toward the greenhouse gas mitigation targets of the Paris Climate Agreement. By leveraging his expertise and strategic partnerships with nuclear reactor manufacturers, Ruff aims to make a significant impact on climate change through the deployment of micro-nuclear reactors at clothing factories worldwide.
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.
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