Everything you need to need to know about the largest Los Angeles startup funding rounds of Q1 2021; broken down by industry, stage, investors, and more…
Funded in LA
Virtualitics Raises $18M for its Data Analytics and Visualization Platform
Humans produce 2.5 quintillion bytes of data each day. By 2025, this figure is expected to increase to 463 exabytes. Business applications are responsible for much of this data and the conversation has shifted from enterprise data collection to how best to efficiently process this vast pool of data. Virtualitics is a data analytics and 3D visualization platform that helps businesses make sense of this data and offers easy-to-digest visual and actionable insights. The Pasadena-based startup has concentrated its efforts on serving the defense industry with its technology but with this funding, Virtualitics plans to expand its commercial offering to servicing the healthcare, finance, industrial IoT, and motorsports markets as a part of its plans to develop a broader customer base. LA TechWatch caught up with CEO and Cofounder Michael Amori to learn more about the core technology that fuses analytics and visualization, the company’s future plans, and latest round of funding led by North Sound Ventures.
Curri Raises $6M for its Last-Minute Delivery Service for Construction Materials
Any construction project has various moving parts that need to be carefully coordinated so that projects are completed on time and on budget. More often than not, there are delays resulting from one facet of the project that ripples into the entire timeline. Curri tackles the availability of building materials with its on-demand delivery service that empowers building materials suppliers to meet the demanding needs of their customers. The company’s platform lets suppliers and distributors select from Curri’s fleet of cars, trucks, flatbeds, or vans operated by gig workers, paying for the appropriate last-mile delivery vehicle based on actual usage similar to ride-sharing. This relieves the supplier of having to maintain an in-house fleet, leading to optimized shipping costs as the last-mile delivery portion is the single most expensive part of the supply chain for building materials. LA TechWatch caught up with Growth Marketing Manager Alice Warnier to learn more about bringing tech-powered logistics to the construction industry, the company strategic plans, and latest funding from investors that include Brick & Mortar Ventures, Initialized Capital, and Rainfall Ventures.
Epsilon3 Raises $1M to be the Operating System for Space Launches
In 2010, then-President Barack Obama instructed NASA to provide grants to private companies to let them develop spacecraft. This shift in space policy from government-controlled has created a massive opportunity for the private sector to fully get involved in space aviation for the first time. In 2020, SpaceX launched its first flight with humans on board, transporting two astronauts to the International Space Station (ISS). Looking to capitalize on this new frontier is Epsilon3, a LA startup comprised of engineers and designers from SpaceX, Google, and Northrop. The company, founded during the pandemic, is building the operating system to power space launches. Most of the existing software used on space missions are legacy and derive from space exploration’s heyday in the 1960s and do not serve the sophisticated needs of today’s industry. Epsilon3 integrates workflows and data in real-time and provides a comprehensive operational management solution that results in fewer errors, increased efficiency by reducing engineering hours needed, and offers continuous improvement through analytics. LA TechWatch caught up with CEO and Cofounder Laura Crabtree to learn more about how her experience working on 100+ space launches led to her “AHA” moment to build Epsilon3, the company’s future plans, and recent round of funding, from investors that include MaC Venture Capital, Stage Venture Partners, and assorted strategic angels.
Belliwelli Raises $1M for its Line of Gut-Friendly Snack Bars
The old adage is “you are what you eat”. But also important is how what you eat, affects your body. The human gastrointestinal tract contains trillions of bacteria and there is growing interest in understanding how the microbiome impacts health. BelliWelli is a snack brand that’s launching this month and is focused on gut-friendly, plant-based bars. The company’s products are all gluten-free, dairy-free, vegan, contain probiotics, and are also low-FODMAP – a short-chain carb that is not easily absorbed by the body. Currently available in four flavors – Minty Chocolate, Cinnamon Swirl, Lemon White Chocolate, Fudge Brownie, BelliWeather bars are available for pre-order from the website with a box of 8 costing $26.96. LA TechWatch caught up with CEO Katie Wilson to learn more about how her own personal journey to find snacks that her body could tolerate led to the founding of the company, the company’s future plans, and recent round of funding.
The LA TechWatch February 2021 LA Venture Capital Funding Report
Aggregate statistics for all LA funding deals by stage of funding (Early, Series A, Series B, & Late) including mention of notable rounds for February 2021.
The 6 Largest LA Tech Startup Funding Rounds of February 2021
Everything you need to need to know about the largest Los Angeles startup funding rounds of February 2021; broken down by industry, stage, investors, and more…
First Resonance Raises $3.5M to be the Operating System for Factories
The aerospace, defense, and automobile industries have long been reliant on obsolete processes for hardware design and manufacturing that do not fully encapsulate the potential of technology. First Resonance is the manufacturing intelligence platform that allows next-gen hardware companies to innovate, iterate, and get products to market faster with unprecedented real-time visibility into production status. Replacing spreadsheets, documents, and costly legacy manufacturing processes, First Resonance’s ion Factory Operating System leverages data science, API integration, and machine learning to provides flexibility and collaboration between knowledge teams in established manufacturing workflows. Founded by former SpaceX engineers, the platform was able to gain 12+ new customers in 2020 despite the pandemic to help advance the future of climate change, space travel, planetary exploration, and sustainable agriculture. LA TechWatch caught up with CEO and Cofounder Karan Talati to learn more about First Resonance, the platform’s impact on manufacturing, progress made since launching out of stealth last fall, the company’s latest funding round led by Blue Bear Capital.
Metropolis Raises $41M to Modernize the Experience of Parking in Cities with Technology
So much attention has been paid to improving urban mobility, starting with ride-sharing, shared scooters, bicycle lines but not much has been paid to improving the accessibility and availability of parking. Metropolis is on a mission to change that. It’s a sophisticated parking management system, powered by computer vision, that leverages technology to improve the experience of parking for both consumers and parking garage operators. With a single app, consumers can find convenient parking options and pay without having to worry about availability, payments, tips, and the like. For operators, in addition to cost savings, they are finally able to gain valuable data on capacity, utilization, and customer behavior while having their locations staffed by dedicated teams from Metropolis. LA TechWatch caught up with CEO, Cofounder, and repeat founder Alex Israel (ParkMe acquire by Inrix) to learn more about the state of the parking industry, the company’s expansion plans, latest round of funding from investors that include Starwood Capital, 01 Advisors (Dick Costolo and Adam Bain), Dragoneer, Slow Ventures, Zigg Capital, DivcoWest, RXR (Scott Rechler), Dan Doctoroff, Baron Davis, Halogen Ventures (Jesse Draper), and Gideon Hixon.
Albert Raises $100M to Help Manage Your Finances with a Blend of Automation and Expert Human Guidance
Goal setting is one of the most powerful processes to build your future. When it comes to your finances, adding in expert advice accelerates achieving those goals in a sustainable and measurable way. Albert is the personal financial advice platform that leverages technology and access to financial experts to address any aspect of your financial situation. At its core, the platform provides mobile banking complete with automated savings, equity investing, tracking, budgeting, and access to cash advances if necessary. LA TechWatch caught up with CEO Yinon Ravid to learn more about the gap that Albert fills in the consumer finance space, the company’s future plans, and latest round of funding from investors that include General Atlantic, CapitalG, Portag3, and QED Investors.
Envoy Raises $11M to Make Electric Vehicle Sharing a Building Amenity
In 2010, there were 17,000 electric cars on the road. By the end of the decade there were over 7.2M. This increase has been largely attributable to improvements in affordability and accessibility. Culver City-based Envoy is bringing electric cars to residential buildings, offices, hotels with its electric vehicle sharing service. Largely focused on the residential housing market, the company partners with building owners to offer access to its fleet of electric cars as a basic building amenity like a pool or clubhouse. LA TechWatch caught up with Cofounder and CEO Aric Ohana to learn more about Envoy’s focus on make mobility an amenity, the company’s future plans, and recent round of funding from investors that include Shell Ventures, Building Ventures, DENSO, Goodyear Ventures, GroundBreak Ventures, and the Los Angeles Cleantech Incubator Impact Fund.