Wednesday, March 9, 2011LA Startup Weekend Spawns Funding For ZaarlyZaarly, a new startup looking to provide a way to connect buyers and sellers of items via a real-time exchange, has spawned out of LA Startup Weekend, the startup launch event held at Santa Monica coworking space Coloft last month. The firm--which took first place at the event--has just raised $1M from Ashton Kutcher, Naval Ravikant, Paul Buchheit, and other angel investors. The firm is set to launch at SXSW this week. Zaarly is based out of Seattle, and is headed by Eric Koester.
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Startup Helps Blind With iPhone AppNot satisfied with creating just another mobile application for the iPhone platform, Santa Monica-based startup, IPPLEX, this week introduced an application to help the visually impaired or blind. According to IPPLEx, it has released a new application called the LookTel Money Reader, a new iPhone application which visually recognizes US currency and will speak the denomination of that bill. The app--which was developed with the support of the National Institutes of Health, National Eye Institut (More info...)
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SpaceX Expands In TexasHawthorne-based Space Exploration Technologies (SpaceX), the commercial rocket firm headed by Elon Musk, said Wednesday afternoon that it is expanding its rocket development facility in Texas. The firm said it has leased 631 acres for its test facility, more than double its existing facility near McGregor, Texas. Musk said in a statement that the facility is "critical" to its operations and upcoming launch contracts. The firm has been in Texas since 2003, where it expects to have at least 140 em (More info...)
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GameSalad Finds New CEOLos Angeles-based GameSalad, the developer of software which makes it easy to create iPhone and other iOS games, has named Steve Felter as the new CEO of the company. Felter joins the firm from Disney. Felter previously was COO and CFO of DigiSynd, before it was acquired by The Walt Disney Company. Felter has also served at Warner Bros. GameSalad is venture backed by DFJ Frontier, DFJ Mercury Venture Partners, ff Asset Management, Steamboat Ventures, as well as angels Mark Suster, Tom McInerney, (More info...)
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Alta Devices, With Links to Caltech, Gains $72MA new startup with links to Caltech has just raised $72M in funding. According to Santa Clara-based Alta Devices, it is developing technology to improve the production economics of high efficiency solar photovoltaics (PV). The firm scored the funding from August Capital, Kleiner Perkins Caufield and Byers, Crosslink Capital, DAG Ventures, New Enterprise Associates (NEA), Technology Partners, Sumitomo, Dow Chemical, Alberta Investment Management Corporation (AIMCo), Good Energies, and Energy Tec (More info...)
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Topspin Releases Ticket App To App StoreVenice, California-based Topspin Media, the venture backed developer of music marketing software and applications, has released its venue ticketing software to the Apple App store. The app allows music venues to scan paper and smart-phone tickets sold through Topspin's software using their iPhone. Topspin--which is backed by the Foundry Group and Redpoint Ventures--develops software which helps artists market their music, and is headed by Ian Rogers, the former GM of Yahoo Music.
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Demand Media, Buddy Media LinkSanta Monica-based Demand Media announced this morning that it has inked a deal with Buddy Media, developer of a Facebook management system for advertisers, on a new version of Pluck. Pluck is Demand Media's social media application. According to the two, the new version of Pluck will allow brands to embed customer forums from their website directly into their Facebook page. Financial arrangement of the partnership were not announced.
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Boingo In App Deal With Best BuyLos Angeles-based Boingo Wireless, the operator of a network of global Wi-Fi access points, said this morning that it has inked a deal with Best Buy to distribute its app on Best Buy's online software store. Boingo's Wi-Fi app lets users know when they are in a Boingo hotspot, and allows them to log on. Financial details of the deal were not disclosed. Best Buy's PC App software store is preloaded on laptops and netbooks sold at the retailer.
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Fourth Wall Studios Gets $15MCulver City-based Fourth Wall Studios, a firm developing massively multiplayer online games in the virtual reality area, has raised $15M in funding, the firm said Tuesday. The funding comes from LA biotech billionaire Patrick Soon-Shiong. The company said it has received a commitment from Soon-Shiong for as much as $200M in funding for its efforts. Fourth Wall Media is headed by Jim Stewartson. Soon-Shiong was the founder of Abraxis BioScience.
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Kite Pharma Raises $15MLos Angeles-based Kite Pharma, a biopharmaceuticals firm developing treatments for cancer, said this morning that it has raised $15M in an initial round of funding. The funding was led by TPG Capital. As part of the funding, David Bonderman of TPG Capital joins the firm's board of directors. Kite Pharma said it is developing active immunotherapies for cancer. The investment ronud came with the assistance of Riverbank Capital Securities Inc., which acted as a placement agent in the financing. Kit (More info...)
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