*socaltech.com <http://socaltech.com> TechNews - Monday, August 23, 2021* 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 * - Ferret Finds $4M For AI Tools <#0081628> - Rocket Lab Expecting To Be Public By Wednesday <#0081626> - Virgin Orbit To Go Public Through SPAC <#0081625> - Millennium Space Systems Shows Off Satellite Deorbiting Technology <#0081624> - OpenGate Capital's Kongsberg Precision Cutting Systems Makes Acquisition <#0081627> *Marketplace* - UK Government's Department for International Trade (DIT) <#ad756> - Network Thinking Solutions - DevOps and Managed Services <#ad774> - Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <#ad752> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> - Pacific Western Bank, Venture Banking Group <#ad749> - Tech Coast Map & Calendar – Put Your Company On The Map! <#ad717> *Monday, August 23, 2021* *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 *Ferret Finds $4M For AI Tools* <https://www.socaltech.com/fullstory/0081628.html> Los Angeles-based Ferret, a startup working on artificial inteligence software to help people determine who they can trust, has raised $4M in a seed funding round, according to the company. The company said the funding came from Artesian, plus over 30 angel investors, including Lanyon Advisory and Paul Grinberg, chairman of the Axos Bank. The company said it is developing machine learning algorithms which help users determine who they can trust in real time. (More... <https://www.socaltech.com/fullstory/0081628.html>) *Rocket Lab Expecting To Be Public By Wednesday* <https://www.socaltech.com/fullstory/0081626.html> Long beach-based Rocket Lab is expecting to be a public company by Wednesday, thanks to a special purpose acquisition company (SPAC) merger with Vector Acquisition Corporation, the two said this morning. According to the two, Rocket Lab will be renamed Rocket Lab USA, Inc., and will commence trading on the Nasdaq as RKLB and RKLBW on August 25th. (More... <https://www.socaltech.com/fullstory/0081626.html>) *Virgin Orbit To Go Public Through SPAC* <https://www.socaltech.com/fullstory/0081625.html> Long Beach-based Virgin Orbit, the satellite launch technology company which is related to Sir Richard Branson's Virgin Galactic space tourism business, says it will become a publicly traded company through a Special Purpose Acquisition Company (SPAC). According to Virgin Orbit, it will become a publicly traded company on the Nasdaq by merging with NextGen Acquisition Corp. II , which trades on the Nasdaq as NGCA. The company said the deal will value Virgin Orbit at $3.2 billion. (More... <https://www.socaltech.com/fullstory/0081625.html>) *Millennium Space Systems Shows Off Satellite Deorbiting Technology* <https://www.socaltech.com/fullstory/0081624.html> El Segundo-based Millennium Space Systems, which was acquired by Boeing in 2018, said this morning that it has demonstrated its technology, which allows companies to "deorbit" their satellites in significantly less time than normally required after a satellite's usable life. The company said it demonstrated use of its deployable tape technology in de-orbiting a satellite in only eight months, rather than allowing a satellite to deorbit by itself in what is expected to take at least seven years. (More... <https://www.socaltech.com/fullstory/0081624.html>) *OpenGate Capital's Kongsberg Precision Cutting Systems Makes Acquisition* <https://www.socaltech.com/fullstory/0081627.html> Los Angeles-based private equity investor OpenGate Capital said that one of its portfolio companies, Kongsberg Precision Cutting Systems, has acquired another company, MultiCam, from private equity investor Rosewood Private Investments. Financial terms of the acquisition were not announced. MultiCam is a manufacturer and distributor of Computer Numerical Code (CNC) cutting machines. (More... <https://www.socaltech.com/fullstory/0081627.html>) *UK Government's Department for International Trade (DIT) <https://www.events.great.gov.uk/ehome/200195057>* The UK is one of the world's fastest-growing tech hubs with more than 60,000 tech companies, 30 industry clusters, and over $14 billion in investment over the last five years. The UK Government's Department for International Trade (DIT) team provides local 1:1 support to companies expanding internationally, helping de-risk market entry with free support services. DIT can provide tailored set-up information, including market research, legal and accounting introductions, recruitment support, policy insight, and partnership-building opportunities. As the #1 destination in Europe for inward investment and tech talent, and home to more fast-growth companies than any other European country, the UK has a lot to offer to US companies. We work with all companies, from start-ups/scale-ups through to the Fortune 500. To find out more about "Why UK," and to work with DIT's LA team, contact us at: https://www.events.great.gov.uk/ehome/200195057 *Network Thinking Solutions - DevOps and Managed Services <http://www.networkthinking.com>* Network Thinking Solutions provides DevOps and Managed Services for Los Angeles, Ventura and Santa Barbara counties. NTS helps development teams implement, manage and monitor CI/CD, Load Balancing, Docker and Auto Scaling technologies. NTS also provides Desktop Managed Services for your business team which includes antivirus, threat protection, ransomware detection, and inventory management. Please reach us at [email protected] to start a conversation. *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 *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 *Pacific Western Bank, Venture Banking Group <http://www.pacwest.com/lending-solutions/venture-lending>* Pacific Western Bank is a commercial bank with over $29 billion in assets and 70 full-service branches primarily located in California, with one in Durham, NC and another in Denver, CO. Our Venture Banking Group offers a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their 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 Britt Nelson at [email protected]. *Tech Coast Map & Calendar – Put Your Company On The Map! <https://www.siliconmaps.com/tech-coast/>* Include your company on the Tech Coast Map and be part of the iconic industry symbol of Technology Innovation in Southern California. The map is promoted through Print, Digital, and web with an online interactive version of the map. Take part in the effective map campaign to support your region, brand and location(s) while promoting your company as an industry leader. The custom imprinted Poster/Calendars make the perfect promotional year-end gift for stakeholders. View the large interactive map at https://www.siliconmaps.com/tech-coast/ Contact [email protected] for more information and mention Socal Tech for special industry rates. ------------------------------ *Recent Funding <#funding>* 8/19/21 RepairSmith <https://www.socaltech.com/intelligence/?action=showdeal&id=103139> El Segundo $42.00 M 8/19/21 Apeel Sciences <https://www.socaltech.com/intelligence/?action=showdeal&id=103140> Goleta $250.00 M 8/16/21 Seismic <https://www.socaltech.com/intelligence/?action=showdeal&id=103138> Solana Beach $170.00 M 8/11/21 HopSkipDrive <https://www.socaltech.com/intelligence/?action=showdeal&id=103136> South Pasadena $25.00 M 8/11/21 JUNO Live <https://www.socaltech.com/intelligence/?action=showdeal&id=103137> San Diego $3.50 M 8/05/21 Aardvark Therapeutics, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103135> San Diego $29.00 M 7/28/21 inVia Robotics <https://www.socaltech.com/intelligence/?action=showdeal&id=103108> Westlake Village $30.00 M 7/27/21 Replicated <https://www.socaltech.com/intelligence/?action=showdeal&id=103097> Los Angeles $50.00 M 7/26/21 SPINN <https://www.socaltech.com/intelligence/?action=showdeal&id=103096> Los Angeles $20.00 M 7/21/21 FloQast <https://www.socaltech.com/intelligence/?action=showdeal&id=103068> Los Angeles $110.00 M 7/20/21 QMerit, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103067> Irvine $0.00 M 7/16/21 NetraDyne, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103034> San Diego $150.00 M 7/14/21 Endgame <https://www.socaltech.com/intelligence/?action=showdeal&id=103033> Los Angeles $12.25 M 7/13/21 Specright <https://www.socaltech.com/intelligence/?action=showdeal&id=103032> Tustin $30.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html August 25, Los Angeles -- *Breaking the Series A Barrier: From Seed to Series A* Viterbi Startup Garage: Oceanside Chat: Breaking the Series A Barrier: From Seed to Series A. Who: Raychel Espiritu (Venture Outreach Manager at The Alliance for Southern California Innovation). What: Southern California has the right mix of talent and opportunity to produce the next major unicorns. The one ingredient that’s missing is venture capital. Join Raychel Espiritu at the next Oceanside Chat at USC Viterbi Startup Garage to learn what it takes to make it from Seed to Series A funding. She’ll share learnings from the SoCal Venture Pipeline program, a compelling solution that enables great SoCal startups to achieve success through strategic matchmaking to Series A investors. Learn about key metrics, key financials, and what’s necessary for an investor-ready pitch deck.. See http://www.socaltech.com/calendar/eventid/26734 ------------------------------ *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. If you do not want to receive this newsletter go to: http://listserv.socaltech.com/mailman/listinfo/socaltech or email us at [email protected] ------------------------------ Legal Notices ---- While SOCALTECH LLC has used its best efforts in collecting and preparing the information published herein, SOCALTECH LLC does not assume, and hereby disclaims, any liability for any loss or damage caused by errors or omissions, whether such errors or omissions resulted from negligence, accident or other causes. All contents Copyright (c) 2017 SOCALTECH LLC. 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