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Energy Vault , a startup created by Pasadena-based startup incubator Idealab , announced this morning that it has launched its utility-scale energy storage technology into commercial availability. Energy Vault's technology--which looks like a wild idea created in Minecraft--uses immense concrete blocks, which store energy from renewable energy, using the same principles of pumping and storing water for energy storage.
Irvine-based Syntiant , which is developing semiconductor used for edge computing, raised $25M in its Series B funding. The funding came from Sunstone Venture Capital Fund, along with Seraph Group, plus Microsoft, Intel, Amazon, Robert Bosch, Applied Materials, and Motorola, according to the company. Sunstone was an investor in its Series A funding.
I am sure you heard of Maslow’s Hierarchy of Needs that motivate our behavior, in which Abraham Maslow laid out a human’s needs – from the physiological, to safety, then love and belonging, on to esteem and finally self-actualization. A little too esoteric for you? Let’s make it more personal. So, where are you in that hierarchy? Let’s assume for a minute that you have just sold your business, or come into money beyond your current needs….
Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.
Santa Monica-based Esports One , which develops data and analytics software for the esports industry, said on Tuesday that it has partnered with Riot Games. Esports One said it will provide real time stats and data to Riot's League of Legends broadcasts in Brazil. Financial details of the deal were not announced. Esports One says it uses computer vision technology to provide real-time analytics and capture of what is happening with professional esports matches.
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Santa Monica-based Esports One , which develops data and analytics software for the esports industry, said on Tuesday that it has partnered with Riot Games. Esports One said it will provide real time stats and data to Riot's League of Legends broadcasts in Brazil. Financial details of the deal were not announced. Esports One says it uses computer vision technology to provide real-time analytics and capture of what is happening with professional esports matches.
In case you haven’t heard, polls will open Tuesday morning across the U.S. for the 2018 midterm elections. It’s a big deal, so go vote. And this year, there are more free ways to get to the polls than ever before thanks to a variety of non-partisan “get the vote out” campaigns from ride-hailing, bike sharing and scooter companies.
HyreCar Inc., a downtown Los Angeles-based company allowing prospective ride-share drivers to temporarily lease vehicles from dealerships, announced Nov. 8 its third-quarter revenue grew 224 percent to $2.7 million over last year.
A 10-person team of researchers at the Salk Institute for Biological Studies has been awarded an eight-year, $19.2 million grant to investigate mechanisms underlying Alzheimer’s disease and aging-related cognitive decline and uncover new therapies. The grant, announced Friday by the research institute in San Diego’s La Jolla community, is part of a $43 million initiative by the American Heart Association and the Paul G.
San Diego-based Mirium Pharmaceuticals , which is developing treatments for rare liver diseases, announced on Wednesday morning that it has raised $120M in a Series A funding round. The funding was led by New Enterprise Associates (NEA), and also included Deerfield Management, Frazier Healthcare Partners, Novo Holdings A/S, Pappas Capital, RiverVest Venture Partners and Rock Springs Capital.
There was plenty at stake in this week’s midterm elections, and not just in terms of political wins and losses. With congress now divided—Democrats took back control of the House and Republicans extended their majority in the Senate—the implications are significant for U.S. healthcare. Just a day after the results, for instance, Senate Majority Leader Mitch McConnell said the GOP would abandon its long-running quest to sink the Affordable Care Act.
Hawthorne, California-based SpaceX , the commercial space exploration firm run by Elon Musk, is looking to raised $750M in a leveraged loan offering, according to a report on Tuesday. The loan effort is being led by BofA Merrill Lynch. The debt funding effort is apparently the company's first time it has attempted to tap into the institutional debt market.
Maybe it’s just me, but I sometimes feel that accountability is a rare talent in business today. In big businesses, people are quick to defer with “that’s not my department,” and even startup founders too often blame failures on the economy or the lack of investors. As an investor and advisor to entrepreneurs, I see accountability, or lack of it, as an override to even the best idea.
Los Angeles-based RingDNA , which develops analytics software used for understanding the sales process and sales conversations, said last week that it raised $30M in a growth capital funding. The funding was led by Goldman Sachs Growth Equity (GS Growth), and also included Palisades Growth Capital and Bryant Stibel. RingDNA, led by founder and CEO Howard Brown, says it is using artificial intelligence for enterprise sales acceleration and voice automation, and now counts such customers as Hewlet
Saturday, November 10, 2018 -- brunchwork w/ Warner Music Group and Art Muse. You're invited to an unforgettable sweetgreen brunch with Aton Ben-Horin, Global Vice President of AandR for Warner Music Group, and ArtMuse founder Natasha Schlesinger. Enjoy a fireside chat with Aton and Natasha, curated connections, a business challenge and pitch off.over a seasonal, locally-sourced meal.
Online hiring and job-search platform ZipRecruiter Inc., based in Santa Monica, announced three new additions to its board of directors Nov. 8, including former executives of Facebook Inc., the San Francisco 49ers and GoDaddy Inc.
Earlier this month, GM CEO Mary Barra told the crowd at a financial conference that her company was on track to unveil a ridesharing service in 2019 that would be powered by autonomous vehicles. It sounded like pretty big news, but to understand company announcements about the commercial viability of driverless cars, one must first parse the semantics.
Los Angeles-based residential energy storage technology developer sonnen said on Thursday that it has partnered with home developer Pearl Homes to build a "net zero" community in Florida. According to the companies, they are building a community called "Hunters Point - Pearl Homes Community and Marina" which will include LEED Platinum certifications, which will be equipped with rooftop solar panels, sonnen's energy storage systems, a smart thermostats, an EV charger, plus Google Home, in what wi
Wednesday, November 7, 2018 -- GetGlobal 2018 - Thrive in Foreign Markets. GetGlobal is the largest summit in North America for international expansion, strategy, and key foreign market dynamics. It is curated exclusively for growth-minded companies seeking to outperform across regions, to see clearly and go boldly. At GetGlobal you will meet with the leading executives, experts, and specialists with unique insights into what drives global success so that you can thrive in foreign markets.
Since I am a techie at heart, I always get excited when founders pitch their new innovation as “disruptive,” meaning that it is so unique that it will create a new market and disrupt the existing value network, displacing established products and markets. Unfortunately, I have learned that investors and customers are wary that big changes will take a long time, and cost more money.
The first, high tech test tunnel built by LA's The Boring Company , bored between the SpaceX parking lot and a home in Hawthorne, California, is almost complete, and will open to the public on December 10th, according to Boring Company and SpaceX CEO Elon Musk. The tunnel--which is designed to show off the technology to send people underneath Los Angeles at speeds up to 155 mph, to address the traffic and congestion inherent in road transportation--will reportedly be available to the public for
Wednesday, November 7, 2018 -- Santa Monica Tech Happy Hour on the Promenade! Join L.A.'s best tech and startup networking series for a special event in Santa Monica!
Sinemia goes for the weekday movie fan, AMC jumps into the subscription business; J2 Global reports revenue growth, Bird launches (tentatively) in United Kingdom.
Medical device maker ResMed has agreed to acquire Minnesota-based MatrixCare, which makes software for long-term care providers, for $750 million. San Diego’s ResMed (NYSE: ticker[[RMD]]) announced its intention to buy the privately held tech company on Monday. The purchase price is 25 times MatrixCare’s pro forma 2018 earnings of about $30 million (without taking into account interest, taxes, depreciation or amortization) on anticipated net revenue of about $122 million.
Los Angeles-based HyreCar , which operates a marketplace which connects Uber and Lyft ridesharing drivers with dealers and others offering up vehicle rentals, said it is now open in all 50 U.S. states. The company said the expansion is a significant incraese from where it had been, which was at 34 states. The addition adds Delaware, Oklahoma, Nebraska, Arkansas, Rhode Island, New Hampshire, New Mexico, Maine, Idaho, South Dakota, Alaska, North Dakota, Vermont, Montana, West Virginia and Wyoming
One of the reasons that now is the time to be an entrepreneur is the explosion of startup assistance organizations, usually called incubators or accelerators. According to the International Business Innovation Association ( InBIA ), there are over 2,200 of these locations worldwide, and new online versions springing up all over the place, like Founders Space in Silicon Valley.
Hundreds of companies. Dozens of research institutes. Billions of dollars in economic impact. San Diego is one of the top U.S. cities for innovation in life sciences and healthtech. Researchers and entrepreneurs here are leaders in developing the next generation of medicines and medical devices. In doing so, they are revealing new insights from our genomes, coming up with new data analytics tools, and applying digital advances to improve health.
Los Angeles-based Milk and Eggs , a new grocery delivery startup which helps connect consumers with farmers and others who will deliver perishable groceries, has raised $6M in a seed funding round, and launched its services. Source of the seed funding was not announced. According to the startup, it is looking to provide people with healthier and fresher food, and also help cut down on unnecessary middlemen, the large amount of food waste, and carbon delivery associated with people driving to the
Saturday, November 10, 2018 -- Pitch Genius Workshop. The purpose of this workshop is to educate idea-to-early stage startups about investors, fundraising, and how to make a successful pitch.
Even when your new product or solution fills a real customer need, and has a positive value proposition, many new venture founders are surprised and frustrated to find that excited customers are hard to find and growth is slow. Thus, as an advisor to many startups, without being negative, I often spend hours with them brainstorming on all the possible barriers that may slow adoption rates, and how to plan or modify the business model to work around these obstacles.
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