Los Angeles’ aerospace and electric vehicle (EV) industries saw a flurry of activity this week with a rare acquisition for SpaceX, a space manufacturing deal for Rocket Lab, and work on the “West Coast Electric Highway” for a local EV company.
Space Exploration Technologies Corp. made an unusual move recently, quietly filing paperwork with the Federal Communications Commission to acquire Swarm Technologies Inc., a Bay Area company that is building a constellation of 150 satellites in low-Earth orbit to aid communication of the Internet of Things.
Under the deal, terms of which were not disclosed, SpaceX would acquire Swarm’s earth and space station licenses, and the smaller startup would become a wholly owned subsidiary of SpaceX.
“The proposed transaction will serve the public interest by strengthening the combined companies’ ability to provide innovative satellite services that reach unserved and underserved parts of the world,” the filing said.
Meanwhile, Rocket Lab USA Inc. is blasting back into business after losing its 20th mission earlier this year with back-to-back missions for global monitoring provider BlackSky and a new deal with in-space manufacturing company Varda Space Industries.
And Slingshot Aerospace Inc., a company based in El Segundo, California, and Austin, Texas, that builds space simulation and analytics solutions, has launched of Slingshot Beacon, a collision-avoidance collaboration and communications platform for space that will be piloted by OneWeb, Spire Global Inc., Orbit Fab and others, accounting for 53% of satellite constellations in low-Earth orbit.
EVs on the move
Back on Earth, Los Angeles’ EV companies also had a busy week.
Xos Inc. said it will provide 120 zero-emission electric trucks to 35 FedEx Ground operators in California, New York, New Jersey, Massachusetts and Texas. Delivery of the vehicles is slated for the fourth quarter and next year, and there are discussions to provide additional trucks in 2022 and 2023 to these customers as well as others in both these and other states.
In addition, the Los Angeles commercial EV manufacturer has unveiled Xos Hub, a mobile charging station that allows its customers to add charging infrastructure to their fleet yards. The new offering is part of Xos Energy Solutions, a new business unit within Xos that aims to encourage the deployment of commercial EVs by providing infrastructure services. Another offering of the division is Xos Serve, an on-demand infrastructure-as-a-service platform that includes site evaluations, energy storage development, and installation and energy management services.
Farther north in Oregon, EV Charging Solutions will embark on a $5 million project to improve EV charging on the “West Coast Electric Highway.” The deal with the Oregon Department of Transportation calls for the Arcadia-based company to make 44 existing charging stations compatible for all EVs, expand nearly a dozen stations and add three more. The new electric outlets will also be able to charge electric scooters and bikes.
Here’s what else L.A. tech companies got up to recently:
Funding
- On the heels of a $200 million strategic investment from Tiger Global Management that values the company at more than a billion dollars, El Segundo ed-tech firm GoGuardian has appointed former Google executive Cyrus Mistry to the dual role of chief product officer and chief operating officer.
- Nanotech Energy Inc., a Los Angeles-based manufacturer of graphene and producer of non-flammable, graphene-based batteries, has raised $64 million in funding led by Taiwanese financial services company Fubon Financial Holding Co. The Series D brings the company’s total funding to $94.9 million and its valuation to $550 million.
- HopSkipDrive Inc., the Los Angeles ride-hailing service for youth, has raised $25 million in Series C funding from Energy Impact Partners, Keyframe Capital, FirstMark Capital and 1776 Ventures. The company, which currently contracts with more than 300 schools, districts and government agencies and operates in 16 markets, will use the money for expansion to 30 more as well as vehicle electrification.
- Israeli hologram company Tetavi has closed its latest venture round worth $20 million led by Insight Partners to open a Los Angeles studio location that will function as a collaborative space for the entertainment industry.
- Los Angeles-based Upscribe, subscription software for direct-to-consumer e-commerce merchants, has closed a $4 million seed financing round led by venture capital firm Uncork Capital.
Acquisitions, expansions and moves
- Trusted Media Brands, owner of Reader’s Digest, Taste of Home and other lifestyle brands, has acquired streaming and social video company Jukin Media Inc.
- Santa Monica electric scooter company Bird Rides Inc. plans to launch its service in New York City on Aug. 17 as part of the city's pilot e-scooter program.
- Los Angeles-based digital and mobile commerce platform Appetize Technologies Inc. has launched Appetize Plus (Appetize+), an all-inclusive subscription plan that bundles cloud-based software, hardware, payments and support into an affordable monthly fee so that enterprise businesses can upgrade to cloud POS, contactless payments and mobile ordering without having to pay significant upfront costs or commit to expensive equipment financing options.
- Crowdpurr, a West Covina startup that provides interactive games, activities and mobile-driven experiences for virtual and live events is about to make its Dayton, Ohio, debut.
