Phoenix Motor Inc., an Anaheim-based company that designs, assembles and integrates electric drive systems and light and medium duty electric vehicles, raised $15.8 million in its initial public offering on June 8.
The company sold 2.1 million shares of common stock at the offering price of $7.50 per share. The company’s stock is trading on the Nasdaq Capital Market under the ticker symbol “PEV.”
Shares of Phoenix Motors (Nasdaq: PEV) have lost more than half their value since the company’s IPO. The stock closed at $3.03 a share on Tuesday.
In other L.A.-area tech news:
Miso Robotics will begin testing its kitchen robot software using AWS RoboMaker.
Miso Robotics
- Miso Robotics, which makes robotics and intelligent automation technology for the restaurant, is working with Amazon Web Services to begin testing the software powering its Flippy 2 and Flippy Lit technologies using AWS RoboMaker. Pasadena-baed Miso said the move to AWS RoboMaker is projected to allow the company to run up to 50 simulations at once and will help it turn future prototypes into functional products at a much quicker rate.
- Meditation app Tripp has raised $11.2 million in funding from Bitkraft Ventures, Amazon Alexa Fund, Qualcomm, HTC, Niantic and Mayfield, according to VentureBeat. The Los Angeles-based startup said it plans to use the funding to help meet the growing demand for mental wellbeing through Tripp’s extended-reality (XR) wellness accessible through augmented reality, virtual reality and mobile application. The company also recently acquired BeardedEye’s world-building platform Eden, which will enable users to further customize their Tripp experience, explore digital realities and meet other people.
- SpectrumAi, an L.A. digital health company focused on autism treatment, has raised $9 million in seed funding co-led by F-Prime Capital and Frist Cressey Ventures, with an additional investment from Autism Impact Fund. The company said the financing will enable it to improve autism care by capturing objective data from Applied Behavior Analysis therapy, the only treatment currently covered for autism despite a lack of data transparency and objectivity.
John McElhone and Micheál McLaughlin are the co-founders of CropSafe.
CropSafe
- Farming platform CropSafe has raised $3 million in seed funding and opened its U.S. headquarters in Los Angeles. Venture Capital firm Elefund led the fundraise, with participation from Foundation Capital, Global Founders Capital, V1.VC and Great Oaks Capital. Angel investors in this round of funding included Cory Levy, Josh Browder and former head of strategy at Microsoft, Charlie Songhurst.
