The Strand 🌴 - May 12, 2019
Happy Mother's Day! Bird is now selling scooters directly to the public, Disney writes down $353 million on its investment in Vice, and Anthos Capital is raising the firm's fourth fund.
|May 13, 2019|
Welcome to the thirty-fourth edition of The Strand, a weekly-ish newsletter covering venture capital, private equity, and general business news from around the Los Angeles area. My name is Brendan Boken, a native of Southern California. Feel free to connect with me on LinkedIn, send deals/news to firstname.lastname@example.org.
Venture Capital Funding
ChowNow, a nine-year-old, Playa Vista, California-based online ordering and marketing platform for restaurants, has raised $21 million in Series C funding co-led by 3L Capital and earlier investors Catalyst Investors. Venture Beat
Liquid Death, a one-year-old, Los Angeles, California-based water brand, has raised $1.6 million in seed funding led by earlier back Science Inc., with additional participation from Dollar Shave Club founder Michael Dubin, Twitter co-founder Biz Stone, and Away co-founder Jen Rubio. CNBC
Neural Analytics, a nine-year-old, Los Angeles, California-based medical robotics company that’s developing and commercializing technologies to measure and track brain health, has raised $22 million in Series C funding led by Alpha Edison. The financing brings the company’s total funding to $66 million. Robot Report
Pearl, a new, West Hollywood, California-based computer vision startup focused on the dental industry, has raised $11 million in funding from undisclosed strategic investors as well as Craft Ventures. TechCrunch
VTS, a seven-year-old, New York-based real estate tech company that provides commercial property owners online tools for managing leases, has raised $90 million in Series D funding. Brookfield Ventures led the round, and was joined by GLP, Tishman Speyer, and earlier backers, including Los Angeles-based Fifth Wall Ventures. Wall Street Journal
Private Equity Funding
No Los Angeles-based investors or companies were involved in private equity transactions this past week.
Liquidity / Exits / M&A
No Los Angeles-based companies filed or went public this past week.
On The Move
No Los Angeles-based companies gained notable new employees this past week.
News, Resources, & Required Reading
Bird is now selling electric scooters directly to the public. The Bird One scooter will cost $1,300 and come in a choice of black, white, and rose. Fortune
Disney has taken another write-down on its investment in Vice Media. The company has recorded a $353 million impairment charge on its home ownership stake in the new media startup. This follows a $157 million write-down on its Vice investment this past November. Hollywood Reporter
How LA-based Beyond Meat and fake meat in general has captured the tech world’s imagination. Built in LA
In a regulatory filing late Monday, Tesla CEO Elon Musk confirmed that he purchased a total of $25 million worth of Tesla stock in a public offering. Musk purchased 102,880 shares at an effective price of $243/share, raising his ownership in the company to 19.5%. TeslaRati
Los Angeles ranks 6th among the world’s best tech cities. Built in LA
Robots can now perform brain scans, thanks to this LA startup. Built in LA
Secrets to success: 3 LA tech leaders share how their teams take on challenging projects. Built in LA
Take a Break
Meet the indie perfumers who are marking scents of L.A. LA Magazine
Sprawling seven room penthouse in Los Angeles is on the market for $30 million. LA Business Journal