Thursday, March 28, 2024Report: Fisker Lost Track Of Customer Payments, Has Audit Crisis
A report this morning says that struggling Los Angeles-based EV maker Fisker Automotive lost track of millions of dollars of customer payments last year, and has been tied up in an internal, auditing crisis trying to track down where those payments went. According to the report, Fisker lost track of "down payments and in some cases, the full price of the vehicles", because of "lax internal procedures" for keeping track of them....Continue →
Wednesday, March 27, 2024NeoPets Rolls Out New Login System
Remember NeoPets? The newly revived, Los Angeles-based online game company -- which has been undergoing a transformation after managed acquired the company from its former owner in July of 2023--said it is launching a new, "single sign on" system for all of the company's various gaming properties, which will allow users to log in and access all of the company's various games and projects....Continue →
Wednesday, March 27, 2024Arrive Recommerce Names Chief Product Officer
Los Angeles-based Arrive Recommerce said this morning that it has named Kenny Pate as the company's Chief Product Officer. Arrive Recommerce says it helps brands and retailers divert products such as non-new returns, excess inventory, and damaged inventory into revenue generating resale channel, serving such retail brands as YETI, Burton Snowboards, and The Citizenry. Pate has previously served at such companies as Thirty Madison, Scalable, Deliv, and eBay....Continue →
Wednesday, March 27, 2024XJ Music Takes On Video Game Music
Los Angeles-based XJ Music recently rolled out a new, video game music product, saying it is looking to help composers building video game music. The company said its tool, which "sustains the human touch", includes a digital audio workstation for music composition, a licensable runtime to implement XJ music in a video game, and creative services to support the game studio's music development process....Continue →
Tuesday, March 26, 2024Picogrid Gets $12M for Defense Systems
El Segundo-based defense startup Picogrid announced on Tuesday that it has raised $12M in a funding round. The funding was led by Initialized Capital, and also included Starburst Ventures, Credo Ventures, Giant Step Capital, Domino Ventures, and Alumni Ventures. Picogrid is developing a grid-based system to help connect and remotely control sensors, drones, command interfaces, and other defense systems, according to the company; the company was founded by Zane Mountcastle and Martin Slosarik....Continue →
Monday, March 25, 2024Report: Fisker's Talks For Funding From Nissan Collapse
A report this morning says that talks between Los Angeles-based EV maker Fisker Automotive and auto maker Nissan have collapsed, putting the company's future in jeopardy. According to a filing with the SEC, Fisker terminated its negotiations with an un-named auto-maker on March 22, without explaining the reasons. The publicly traded auto maker's stock has plunged in recent weeks, and the company laid off staff in February, and has been suffering from cash flow problems....Continue →
Monday, March 25, 2024Boom Supersonic Reports Successful Test Flight
Mojave-based Boom Supersonic, which says it is developing a new, supersonic jet airliner, says it has successfully flown its XB-1 demonstrator aircraft, which will enable supersonic flight, aimed at bring supersonic flight back to the passenger market. The company said its XB-1 aircraft is aimed at the ultimate development of "Overture", the company's planned supersonic passenger aircraft. Black Scholl is founder and CEO of Boom Supersonic....Continue →
Monday, March 25, 2024B. Riley Financial Gets Nasdaq Notification
Los Angeles-based B. Riley Financial, the provider of investment banking and other services which trades on the Nasdaq as RILY, said on Friday that it has received a "delinquency notification letter" from the Nasdaq. According to the company, the notice states that the company is "not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the delayed filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2023"....Continue →
Thursday, March 21, 2024Firestorm Labs Lands $12.5M In Seed Funding From Lockheed Martin, Others
San Diego-based Firestorm Labs, a developer of unmanned aerial systems (UAS), says it has received $12.5M in a seed funding round. The funding came from Lockheed Martin Ventures, as well as Decisive Point, Silent Ventures, 645 Ventures, Overmatch VC, BVVC, Marquee Ventures, Cubit Capital, IronGate, Backswing Ventures, The Veteran Fund, Feld Ventures, Beyond Capital, and RedCat....Continue →
Wednesday, March 20, 2024Foxy.ai Gets $1.5M For AI Girlfriends
Los Angeles-based Foxy.ai, which develops "hyper-realistic AI girlfriends" based on celebrities and influencers, says it has raised $1.5M in funding. Source of the funding was not disclosed, however, the company said the funding came from "celebrity investors, billionaires, and tech industry heavyweights". Foxy.ai's website currently lets people pick from a long menu of scantily clad, volumptuous females who send revealing photos and chat with users.Continue →
Wednesday, March 20, 2024Boulevard Offers Up Growth Funding To Self Care Businesses
Los Angeles-based Boulevard, which develops an online platform which helps appointment-based, self-care businesses manage their business, says it has launched a new growth funding effort for its clients. According to the company, the new financial product allos Boulevard-powered salons, barbershops, spas, and medspas access to growth funding. The company said its new offering, "Boulevard Capital", is based on "demonstrated business performance rather than credit history"....Continue →
Tuesday, March 19, 2024SWARM Engineering Rolls Out AI Ag Advisor
Irvine-based SWARM Engineering is rolling out a new, artificial intelligence powered tool it says is aimed at the "agrifood" industry. According to the company, its new product, AVA (AgriFood Virtual Advisor), uses AI to provide "tailored solutions that address complex challenges in the agrifood industry such as efficiency, sustainability, and profitability." SWARM Engineering is led by CEO Anthony Howcroft....Continue →
Tuesday, March 19, 2024Clearlake Capital, Insight Complete Alteryx Buy
Two, private equity investors--Clearlake Capital Group and Insight Partners--said today that they have completed their acquisition of Irvine-based Alteryx. The deal--worth approximately $4.4 billion -- was announced on December 18th, 2023. Alteryx is a developer of enterprise analytics software. The two private equity investors paid $48.25 per share in cash for each share of Alteryx stock.Continue →
Tuesday, March 19, 2024Loop Media Swizzles Execs, Cuts Staff, Seeks Buyer
Glendale-baed Loop Media said Monday that it has appointed a new, interim CEO, has changed other executives, and has laid off staff--and is now seeking "potential strategic alternatives and financing opportunities". The company provides multichannel, streaming TV, including music videos, sports, news, premium entertainment channels and digital signage for businesses....Continue →
Monday, March 18, 2024Fisker Automotive Pauses Production As It Seeks Funding
Los Angeles-based electric vehicle maker Fisker Automotive says it has paused all ofits production for six weeks to "align inventory levels and progress strategic and financing initiatives", as the company runs low on cash. The pause comes as Fisker is attempting to raise funding to continue operations. The company said it is "continuing negotiation with a large automaker" for a potential investment....Continue →
Monday, March 18, 2024Bitbrand Gets $500K For Blockchain Apple Watch Graphics
Los Angeles-based Bitbrand announced this morning that it has raised $500K in its first funding round. The company said the funding came from Hustle Fund, Side Door Ventures, GFR Fund and others, including others blockchain and luxury investors. The company offers up "Blockchain-based" watch faces for the Apple Watch.Continue →
Friday, March 15, 2024VeVe Launches Digital Comics Service
Los Angeles and Auckland, New Zealand-based VeVe, a provider of "digital collectibles, comics, and artwork" said it is launching a new "digital comic" service called VeVe Comics. According to the company, the service brings non-subscription access to premium, licensed digital comic books. The company says it is debuting with access to Marvel Comics. VeVe is led by CEO and co-founder David Yu.Continue →
Friday, March 15, 2024Group Dangles $16M For Hydrogen Infrastructure
The Energy Infrastructure Incentives for Zero-Emission Commercial Vehicles (EnergIIZE) says it is awarding up to $16M in incentives to grow hydrogen infrastructure in California, in an effort funded by the California Energy Commission (CEC) and administered by CALSTART. According to the grant provider, they are covering up to 50 percent of eligiable equipment and software costs for projects, of up to $3M per project, to install hydrogen infrastructure in California....Continue →
Thursday, March 14, 2024MDpanel Adds To Board
Los Angeles-based MDpanel said this week that Dr. Sonu Ahluwalia has joined the company's board of directors. The company said that Dr. Ahluwalia is Vice Chair and Medical Director in the Department of Orthopaedic Surgery and a member of the Cedars-Sinai Medical Center Board of Directors. Ahluwalia provides expert medical opinions from medical professionals.Continue →
Thursday, March 14, 2024Activision's Kotick Among Possible Buyers For TikTok
Bobby Kotick, the CEO of Santa Monica-based Activision, is among the possible buyers for TikTok, according to a report from the Wall Street Journal. The rumors come as US lawmakers are focused on possibly banning TikTok or forcing its sale.Continue →