Navitas Semiconductor CEO Gene Sheridan rang the Nasdaq opening bell this week to celebrate the company's debut as a public company after only seven years as startup.
Navitas Semiconductor
Three Los Angeles-area companies joined the billion-dollar club this week.
Scopely Inc. will spend a billion dollars to buy another mobile game company.
Navitas Semicondicutor went public at an enterprise value above 10 digits.
And VideoAmp’s valuation also exceeded $1 billion with its latest round.
Here’s what L.A.-area tech companies got up to this week:
- Culver City mobile game company Scopely Inc. is buying GSN Games from Sony Pictures Entertainment for $1 billion. The Santa Monica-based Game Show Network division’s games include “Solitaire TriPeaks” and “Bingo Bash.”
- El Segundo semiconductor maker Navitas Semiconductor went public this week, debuting on the Nasdaq under the ticker “NVTS” with an enterprise value of more than $1 billion and generating more than $320 million to expand into new markets.
- Los Angeles media measurement software company VideoAmp has secured $275 million in Series F funding at a $1.4 billion valuation from investors including The Spruce House Partnership, D1 Capital Partners, Tiger Global, EPIQ Capital Group and Ankona Capital Partners.
Up.Partners managing directors Adam Grosser, Cyrus Sigari and Ben Marcus aim to support companies "that are transforming the moving world."
Hand-out
- Santa Monica-based Up.Partners has closed its inaugural $230 million early-stage venture capital fund, which focuses on companies creating technologies to help move people and goods cleaner, faster, safer and more efficiently.
- El Segundo’s Endpoint, a mobile-first title and escrow company, has secured an additional $150 million in funding from its parent company, First American Financial Corp., bringing its total capital raised to $220 million.
- Santa Monica-based early-stage venture firm Patreon has launched with a $90 million seed fund to invest in companies at the convergence of games, consumers and the decentralized, AI-driven Web 3.0.
- Culver City’s Embrace, an observability and data platform built exclusively for mobile, has raised $45 million in Series B funding led by New Enterprise Associates.
Carbon Capture's new CEO Adrian Corless was formerly CEO of Canadian direct-air-capture company Carbon Engineering.
James Manning
- Carbon Capture Inc., a Pasadena climate-tech company that makes machines that remove CO2 directly from the atmosphere, has closed a $35 million Series A funding round and appointed Adrian Corless, formerly CEO of Canadian direct-air-capture company Carbon Engineering, as CEO.
