Los Angeles startups raised hundreds of millions of dollars in venture capital this week.
Carl Larson Photography
A startup focused on the ins and outs of short-terms rentals and a platform supporting content creators each raised hundreds of millions of dollars in capital this week.
A sustainable beauty brand, "Shark Tank" alum and content production app providing a safe space for women and nonbinary people followed suit with capital investments of their own.
Let's dive into the Los Angeles startups and tech companies that raised money this week:
- AvantStay, a Los Angeles-based hospitality platform focused on all facets of short-term-rentals, closed a $500 million PropCo funding round. The round was led by Saluda Grade, a real estate advisory and asset management firm, and signifies one of the first short-term rental funds ever created.
- Los Angeles-based Common Heir announced a $2.5 million capital raise this week led by Mucker Capital and Trousdale Ventures. The sustainable beauty brand launched in 2021 with its flagship product, a Vitamin C serum in vegan, plastic-free capsules. The funding gave Common Heir the runway to expand its product line, and on Feb. 15 the startup released a gentle Retinol serum.
- L.A.-based Encore Music Technology, an interactive live music mobile platform that helps artists monetize fan connections, landed $9 million in seed funding. The round was led by 468 Capital.
- Mad Rabbit Tattoo, L.A. tattoo startup and "Shark Tank" alum, secured $4 million in new funding from billionaire Mark Cuban. Additional investors include New York City-based Acronym Venture Capital, Revolution's Rise of the Rest Seed Fund, LB Equity and Seamless Capital.
- Parallel Systems, a Culver City company founded by former SpaceX engineers to create autonomous battery-electric rail vehicles, was recently chosen to receive $4.5 million. The funds come from the Department of Energy as part of its Advanced Research Projects Agency-Energy initiative.
- Los Angeles-based creator platform Spotter has raised a massive $200 million Series D funding round led by SoftBank Vision Fund 2. Spotter was founded in 2019 to help YouTube creators scale their brands, channels and revenue, and provides creators with up-front cash to license existing content.
- Sunroom, an L.A.-based app for women and nonbinary creators, secured $3.6 million in Seed funding. The startup, which launched last week, aims to give creators a space to produce content through the lens of women and nonbinary people. Investors include Blackbird, Li Jin, Cyan Banister, Sarah Downey, Peanut CEO and co-founder Michelle Kennedy, and Brud co-founder Trevor McFedries.
- L.A.- based instant beverage company Waka Coffee & Tea, founded in 2018, closed a $725,000 pre-seed round led industry veterans and strategic investors. The funds will be used to further accelerate the startup's growth and innovation.
