*socaltech.com <http://socaltech.com> TechNews - Wednesday, July 8, 2020* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News <https://www.socaltech.com/News> ------------------------------
*Sponsored By * Pacific Western Bank, Venture Banking Group (http://www.pacwest.com/lending-solutions/venture-lending) Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG ------------------------------ *Headlines * - VelosBio Finds $137M For Oncology Efforts <#0080061> - Aerovironment Gets $21M Contract <#0080062> - CUJO AI Names General Counsel <#0080063> - MemComputing Finds New Funding <#0080060> - QLess Courts Retailers With Line Management Software <#0080059> - Report: Is Anyone Watching Quibi? <#0080058> - Vantage Data Centers Gets Backing From Colony Capital <#0080055> - Grow Credit Adds New Investor <#0080054> *Marketplace* - Become a Socaltech Supporter! <#ad724> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> - Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <#ad752> - From Idea to IPO - KPMG’s Emerging Growth Practice <#ad760> - Technology Management and Operational Outsourcing – PulseOne <#ad765> - Accelerating Growth For Early Stage Innovation. <#ad764> *Wednesday, July 8, 2020* *Pacific Western Bank, Venture Banking Group <http://www.pacwest.com/lending-solutions/venture-lending>* Pacific Western Bank is a commercial bank with over $26 billion in assets and 76 branches primarily located in California, with one in Denver, Colorado and another in Durham, North Carolina. Our Venture Banking Group offers a comprehensive suite of financial services focused on entrepreneurial businesses and their venture capital and private equity investors. We also offer Community Banking and National Lending services. For more information about the Venture Banking Group, visit www.pacwest.com/lending-solutions/venture-lending, or send an email to Brian Weber at [email protected] *VelosBio Finds $137M For Oncology Efforts* <https://www.socaltech.com/fullstory/0080061.html> San Diego-based biopharmaceuticals developer VelosBio says it has raised $137M in a Series B funding roudn, to go towards its oncology efforts. The funding was led by Matrix Capital and Surveyor Capital, and also included Adage Capital Management LP, Cormorant Asset Management, Farallon, Foresite Capital, Janus Henderson Investors, Logos Capital, OrbiMed, funds and accounts advised by T. Rowe Price Associates, Inc. (More... <https://www.socaltech.com/fullstory/0080061.html>) *Aerovironment Gets $21M Contract* <https://www.socaltech.com/fullstory/0080062.html> Simi Valley-based unmanned aircraft systems developer Aerovironment says it has received a $21M contract option, from the U.S. Army, for radio frequency modifications for its Raven UAVs. According to AeroVironment, the award is part of the first of three options under a sole source, Flight Control Systems (FCS) small UAS contract, which it annoucned earlier. That award is worth up to $55M. (More... <https://www.socaltech.com/fullstory/0080062.html>) *CUJO AI Names General Counsel* <https://www.socaltech.com/fullstory/0080063.html> El Segundo-based artificial intelligence software developer CUJO AI said this morning that it has named a new General Counsel. The company said it has appointed Jeremy Otis to the position, with Otis joining from Wartsila Marine, where he was Legal Director fot he Americas. CUJO AI said Otis has been an in-house lawyer for a number of Finnish security companies during 25 years in Finland and the US. (More... <https://www.socaltech.com/fullstory/0080063.html>) *MemComputing Finds New Funding* <https://www.socaltech.com/fullstory/0080060.html> San Diego-based MemComputing, a developer of high performance computing technology, has raised a round of funding, the company said on Tuesday, from two investors. According to MemComputing, the funding came from Revolution's Rise of the Rest Seed Fund, along with IT-Farm. MemComputing says it has now raised over $3M in total funding. MemComputing, led by CEO and co-founder John Beane, said the funding will go towards accelerating its product development and to expand sales and marketing. (More... <https://www.socaltech.com/fullstory/0080060.html>) *QLess Courts Retailers With Line Management Software* <https://www.socaltech.com/fullstory/0080059.html> Pasadena-based QLess, which develops software to help manage lines and appointments, is courting retailers as they look to how to best adapt to the COVID-19 era. The company said its software eliminates the need for physical lineups, enabling mobile or home waiting for retailers. The company says it enables virtual check-ins through a dedicated online portal with real-time SMS updates about wait times and placements in line. The company is led by CEO Kevin Grauman. (More... <https://www.socaltech.com/fullstory/0080059.html>) *Report: Is Anyone Watching Quibi?* <https://www.socaltech.com/fullstory/0080058.html> Los Angeles-based Quibi, the online, short-form streaming content startup backed by $1.75 billion, and founded by Jeffrey Katzenberg and Meg Whitman, is facing some high profile scrutiny, with latest asking: Is Anyone Watching Quibi?. It's unclear if the COVID-19 lockdown, or too much Hollywood and celebrity and not enough tech startup are to blame for the company's high profile stumbles. (More... <https://www.socaltech.com/fullstory/0080058.html>) *Vantage Data Centers Gets Backing From Colony Capital* <https://www.socaltech.com/fullstory/0080055.html> Datacenter operator Vantage Data Centers is getting the backing from Los Angeles private equity investor Colony Capital, which the two said is worth $3.5 billion, to accelerate the expansion of Vantage's wholesale data centers through North America and Europe. According to the two companies, Colony's investor group will invest $1.2 billion in Vantage's portfolio of North American data centers, which includes 1. (More... <https://www.socaltech.com/fullstory/0080055.html>) *Grow Credit Adds New Investor* <https://www.socaltech.com/fullstory/0080054.html> Santa Monica-based Grow Credit, a fintech startup which provides small dollar loans and helps consumers establish their credit record through paying for online subscriptions, says it has added a new investor, Commerce Ventures. According to Grow Credit, Commerce Ventures will join its seed funding round alongside lead investor Mucker Capital, as well as Minal Hasan, founder of K2 Global Ventures. Size of the investment was not announced. (More... <https://www.socaltech.com/fullstory/0080054.html>) *Become a Socaltech Supporter!* Interested in letting Southern California's high tech community know you are here for them? Want to reach Southern California's movers and shakers? Become a SPONSOR or SOCALTECH SUPPORTER! Our sponsors and supporters are featured on our website, and online service provider directory, as well as in our newsletter multiple times per week. It's a great way to both get the word out about your services, as well as support our news coverage of local companies across the tech industry! Contact [email protected] for details. *IP Protection for Technology and Business - SoCal IP Law Group LLP <http://www.socalip.com>* Patents. Trademarks. Copyrights. Trade Secrets. IP Filings. IP Strategy. IP Litigation. IP Transactions. US and Worldwide. Offices in Westlake Village and Santa Barbara. [email protected] www.socalip.com *Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <https://www.bestronics.com>* Are the great ideas stacking up faster than your engineering resources can handle? Your company needs a reliable resource of analog/digital and software engineers to understand your issues, define the problem statements and lay out a course of action to output hardware products ready for integration into your system. Our unique capabilities, used by many in the medical, scientific, military and aerospace industries, allow us to offer engineering services that result in deliverable, production ready subsystems so you can concentrate on targeting your customer base and not stressing about the right mix and numbers of engineering talent needed to see your vision become reality. Contact us at http://www.bestronics.com *From Idea to IPO - KPMG’s Emerging Growth Practice < [email protected]>* KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at [email protected]. *Technology Management and Operational Outsourcing – PulseOne <https://pulseone.com/sct/>* PulseOne is a business services company specialized in delivering IT-enabled solutions to emerging and high growth companies. Bringing together the world's best technologies, renowned engineering design, and proven implementation, PulseOne is uniquely positioned for Central and South Coast based businesses to plan, build and manage your technology infrastructure - from strategy to ongoing support. Our scalable model allows companies to utilize the services they need as they grow, making high value outsourced IT management cost effective for your growing business. Staffed with technology specialists and lead by business veterans, PulseOne is designed to support your business needs. For more information on what we can do for you, contact us via https://pulseone.com/sct/ or email us at [email protected]. *Accelerating Growth For Early Stage Innovation. <http://www.preccelerator.com>* The Preccelerator® Program is an accelerator for early-stage startups offered to select companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides initial capital, sophisticated legal services, interim office space, mentorship, a targeted curriculum, investment strategy counseling and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. www.preccelerator.com ------------------------------ *Recent Funding <#funding>* 6/25/20 Treehouse Games <https://www.socaltech.com/intelligence/?action=showdeal&id=100533> Los Angeles $2.60 M 6/25/20 Clickup <https://www.socaltech.com/intelligence/?action=showdeal&id=100534> San Diego $35.00 M 6/24/20 Pipe <https://www.socaltech.com/intelligence/?action=showdeal&id=100532> Los Angeles $60.00 M 6/23/20 Scalefast <https://www.socaltech.com/intelligence/?action=showdeal&id=100510> Manhattan Beach $21.58 M 6/17/20 DroneBase, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=100472> Los Angeles $7.50 M 6/16/20 UNEST <https://www.socaltech.com/intelligence/?action=showdeal&id=100471> Hollywood $9.00 M 6/03/20 TAE Life Sciences <https://www.socaltech.com/intelligence/?action=showdeal&id=100255> Foothill Ranch $30.00 M 5/26/20 Apeel Sciences <https://www.socaltech.com/intelligence/?action=showdeal&id=100217> Goleta $250.00 M 5/21/20 Aspiration <https://www.socaltech.com/intelligence/?action=showdeal&id=100213> Marina Del Rey $135.00 M 5/19/20 Amplyx Pharmaceuticals <https://www.socaltech.com/intelligence/?action=showdeal&id=100104> San Diego $53.00 M 5/19/20 ChromaCode, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=100103> Carlsbad $10.00 M 5/14/20 Prodoscore <https://www.socaltech.com/intelligence/?action=showdeal&id=100102> Irvine $0.00 M 5/13/20 Upkeep <https://www.socaltech.com/intelligence/?action=showdeal&id=100100> Los Angeles $36.00 M 5/06/20 BURST Oral Care <https://www.socaltech.com/intelligence/?action=showdeal&id=100010> Walnut $0.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html July 9, Irvine -- *TCVN Fireside Chat with Sean Ellis: Growth Hacking in a Post Covid-19 World* Growth Hacking In A Post COVID-19 World. TCVN. Join Tech Coast Venture Network in welcoming Sean Ellis, founder of Qualaroo and the mastermind behind the Dropbox’s viral growth strategy. Sean will chat with Michael Sawitz about his thoughts on growth hacking in a post Covid-19 world and how his insights can be used to benefit your business. See http://www.socaltech.com/calendar/eventid/26630 ------------------------------ *Recent Job Postings * More jobs at http://www.socaltech.com/Jobs ------------------------------ ------------------------------ *Sponsored By * Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG Email [email protected] for more information about sponsoring this newsletter. ------------------------------ You are receiving this email because you subscribed to the socalTECH.com TechNews from our web site, or otherwise requested a subscription. 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