The Roundup: L.A. startup and innovation news you need to know
LIFE SCIENCES: Time BioVentures announced the close of its first fund, with $100 million in assets under management. It’s an early-stage life sciences venture firm that’s supported by a roster of biotech and health care investors. The fund will finance innovations in medicine. Its initial investments include Neuralink, Elon Musk’s brain-computer interface startup, as well as Kling Biotherapeutics, a drug development company based in Amsterdam.
The firm’s general partners are former musician D.A. Wallach and drug developer Tim Wright, who pioneered multiple drugs while at Pfizer and Novartis.
VR GAMING: – ForeVR Games announced a $10 million Series A funding round, according to TechCrunch. It plans to use the funds to expand its portfolio of connected family-friendly titles. ForeVR Games creates casual virtual reality gaming. It was founded by Zynga, EA, and Glu veterans.
The Series A round was led by Lobby Capital, with participation from existing investors, including Bessemer Venture Partners and Galaxy Interactive. It brings ForeVR’s total funding to date to $18.5 million.
SPACECRAFT MANUFACTURING: Apex announced it emerged from stealth mode with over $7.5 million in funding, according to TechCrunch. Apex manufactures spacecraft for commercial and government customers. The company will use the funds for hiring and production.
The funding round was led by Andreessen Horowitz, with participation from XYZ, J2, Lux Capital, and Village Global.
EV CHARGING: Xeal announced $40 million in Series B funding, bringing its total financing to $54 million.
The company develops software for smart EV charging stations. It caters to multifamily and commercial real estate owners, providing them the ability to install these stations in their communities, with minimal infrastructure upgrades.
Clients manage these smart EV charging stations remotely through Xeal’s dashboard, providing real-time data on charging sessions, energy management, utilization and revenue share.
Xeal’s app for EV drivers uses a token-based technology so they can access these charging stations without relying on cellular or garage IT infrastructure.
Xeal moved its HQ to NYC from L.A., but recently opened its engineering lab in Venice.
DIGITAL HEALTH ASSISTANT: Renee, a health care assistant, announced the launch of its flat-fee prescription drug program. Its prescription plan includes the 500 most commonly prescribed medications for a flat rate of $25/month, with no insurance required, no copays, no shipping costs and no hidden fees.
HEALTH & HUMAN PERFORMANCE: Fount announced the public launch of FlyKitt, a system to eliminate jet lag. It’s already being used by professional sports teams including USA Soccer, military units and business executives. FlyKitt’s uses scientific insights to tailor supplements, manage light and customize when to eat and sleep based on a traveler’s exact flight schedule, so they arrive at their destination ready to perform, work, etc.
The company conducted research with Navy SEALs and found that the large changes in air pressure when flying cause an inflammatory response, which can impair how people think, feel and perform.
CUSTOMER EXPERIENCE INTELLIGENCE: Disqo announced the appointment of Nicholas Weaver as VP of engineering. Disqo creates a customer intelligence experience platform, which includes insights, testing and advertising measurement, gleaned from its opt-in consumer data platform.
AUTONOMOUS RIDE-HAILING SERVICE: Waymo announced that it will expand into L.A. It’s a fully autonomous ride-hailing service. It already has locations in Phoenix and San Francisco.
The company’s mapping and data collection process is already underway. That’s when Waymo drivers manually drive the company’s vehicles down the streets, so sensors can capture features of the new environment, like crosswalks and intersections. Waymo then puts those maps through quality control testing, before using them to guide its vehicles in simulation and in the real world, which will start in the coming months.
Waymo will first use trained specialists behind the wheel. Next will be Waymo employees. Then, with all the info gleaned and the necessary permits, it will invite L.A. residents to try its 24/7 service. No date has been set for that yet.
It will start with the L.A. neighborhoods including Downtown, Miracle Mile, Koreatown, Santa Monica, Westwood and West Hollywood.
CYBERSECURITY: NINJIO, a cybersecurity awareness company, announced that it acquired Dcoya, which created an AI-driven cybersecurity awareness platform. Both companies focus on behavior modification, as cybercriminals continue to rely on social engineering to infiltrate companies and steal sensitive information.
ONLINE MARKETPLACES: A Swedish startup now has an L.A. presence. Off Script helps creators launch their own curated marketplaces, where they can sell their favorite products from their favorite brands. The startup announced that it raised $1 million in pre-seed funding from L.A.-based VC, Watertower Ventures, as well as Third Kind Venture Capital, to launch in the U.S.
Off Script’s goal is to do for multi-brand retail what Shopify has done for DTC brands. It’s in the pilot phase with select creators and agencies, as it builds out the platform to cater to a decentralized commerce market.
CUSTOMER RELATIONSHIP MANAGEMENT: Laylo announced it’s closed a new funding round. That brings its total fundraising to date to $7.5 million, according to Crunchbase. Led by Eldridge, the round also included participation from Third Prime Ventures and LVRN Management.
Laylo creates a customer relationship management platform that lets fans know as soon as creators release new merchandise, content and events. It works with creators across music, podcasting, gaming, sports and fashion.
