*socaltech.com <http://socaltech.com> TechNews - Thursday, April 6, 2023* Edited by Benjamin F. Kuo 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 * - Flyby Raises $4M In Funding For Delivery Drones <#0083347> - Scopely Acquired For $4.9 Billion By Savvy Games Group <#0083346> - Activision Settles Lawsuit With DOJ Over Player Salaries <#0083345> - Virgin Orbit COO Pans Leadership After Bankruptcy Filing <#0083344> - Western Digital's MyCloud Offline Due To Hacking <#0083343> - SmartDreams Brings Generative AI To Kids Storytime <#0083342> - Virgin Orbit Files For Bankruptcy <#0083341> - BENlabs Launches Tool For Optimizing Short Videos <#0083338> *Marketplace* - Pacific Western Bank, Venture Banking Group <#ad797> - From Idea to IPO - KPMG’s Emerging Growth Practice <#ad760> - Pixelgate.net - Internet Access, Web Hosting, Network Services <#ad796> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> *Thursday, April 6, 2023* *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 *Flyby Raises $4M In Funding For Delivery Drones* <https://www.socaltech.com/fullstory/0083347.html> Los Angeles- and Phoenix-based Flyby Robotics announced on Wednesday that it has raised $4M in a pre-seed, investment funding round for its machine-learning powered, delivery drone technology. The funding was led by MaC Venture Capital and also included Weekend Fund, Anthemis, and Evening Fund. (More... <https://www.socaltech.com/fullstory/0083347.html>) *Scopely Acquired For $4.9 Billion By Savvy Games Group* <https://www.socaltech.com/fullstory/0083346.html> Los Angeles-based videogame developer Scopely has been acquired for $4.9 billion by a Saudi Arabian company, Savvy Games Group, in a big exit for the local tech market. Savvy Games Group is owned by the Saudi Arabia Public Investment Fund. (More... <https://www.socaltech.com/fullstory/0083346.html>) *Activision Settles Lawsuit With DOJ Over Player Salaries* <https://www.socaltech.com/fullstory/0083345.html> Santa Monica-based Activision has agreed to settle a lawsuit from the US Department of Justice, over antitrust claims which had alleged that the company was "suppressing Esport player compensation". According to the US DOJ, Activision had imposed rules that "limited competition for players in Activision’s Overwatch and Call of Duty professional esports leagues and suppressed the wages of esports players in these leagues in violation of the Sherman Act. (More... <https://www.socaltech.com/fullstory/0083345.html> ) *Virgin Orbit COO Pans Leadership After Bankruptcy Filing* <https://www.socaltech.com/fullstory/0083344.html> The departing Chief Operating Officer of now bankrupt Virgin Orbit panned the company's leadership after the bankruptcy filing, saying--in a leaked email--that the company "did not have the leadership or opportunity to demonstrate to the world what you can fully do", and also saying that employees "have not heard from the person who should be saying it"--apparently referring to the company's CEO. (More... <https://www.socaltech.com/fullstory/0083344.html>) *Western Digital's MyCloud Offline Due To Hacking* <https://www.socaltech.com/fullstory/0083343.html> Storage maker Western Digital--which has major operations in Irvine--has seen a major security incident, which has made it impossible for users of the company's cloud-based "MyCloud" network attached storage (NAS) devices to access their data. According to Western Digital, it has been the subject of a "network security incident", and that it has started "implementing practive measures to secure its business operations" including "taking systems and services offline". (More... <https://www.socaltech.com/fullstory/0083343.html>) *SmartDreams Brings Generative AI To Kids Storytime* <https://www.socaltech.com/fullstory/0083342.html> Los Angeles-based SmartDreams said on Tuesday that it is bringing generative AI, to help kids create their own bedtime stories. The startup--founded by serial entrepreneurs Dr. Renee Dua and Nick Desai--says it has created a free app which lets kids create unlimited, unique bedtime stories through generative AI. The company said its app lets kids "magically created animals, heroes, sidekicks, locations, foods and more"--all generated by generative artificial intelligence. (More... <https://www.socaltech.com/fullstory/0083342.html>) *Virgin Orbit Files For Bankruptcy* <https://www.socaltech.com/fullstory/0083341.html> Mojave-based *Virgin Orbit <https://www.virginorbit.com>*, which had been working on a satellite launch system, has officially filed for bankruptcy <https://www.ft.com/content/d27cc6ab-43af-4694-8678-2f18415537e8>, after shutting down its operations a few days ago. The company--which had gone public via a special purpose acquisition company (SPAC) in 2021---appears to have run out of runway, after a failed launch in the UK.(More... <https://www.socaltech.com/fullstory/0083341.html>) *BENlabs Launches Tool For Optimizing Short Videos* <https://www.socaltech.com/fullstory/0083338.html> Los Angeles-based artificial intelligence software developer BENlabs, which owns TubeBuddy, says it has rolled out a new, artificial intelligence driven tool aimed at helping creators create and optimize short form video content. According to the company, the new tool helps creators suggest how to convert long form videos into short form video content, helping to drive more traffic and revenues on short form video platforms. Pricing on the new tool was not announced. (More... <https://www.socaltech.com/fullstory/0083338.html>) *Pacific Western Bank, Venture Banking Group <https://www.pacwest.com>* Pacific Western Bank is a commercial bank with over $41 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado. Our venture banking team specializes in financial products and services for startups, venture-backed businesses, and their venture capital and private equity investors. We are dedicated to delivering high-touch, tailored solutions, helping innovators take their business to the next level. No matter the size or stage of your business, you can expect guidance, resources and flexibility, making them the perfect team to support your evolving needs. For more information, visit www.pacwest.com, or follow them on LinkedIn and Twitter. *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]. *Pixelgate.net - Internet Access, Web Hosting, Network Services <http://www.pixelgate.net>* We put the "Service" back into Internet Service Provider. http://www.pixelgate.net *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 ------------------------------ *Recent Funding <#funding>* 2/10/23 Fabric8Labs <https://www.socaltech.com/intelligence/?action=showdeal&id=110604> San Diego $50.00 M 1/31/23 Saviynt <https://www.socaltech.com/intelligence/?action=showdeal&id=110563> El Segundo $205.00 M 1/23/23 ADARx Pharmaceuticals, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=110494> San Diego $46.10 M 1/19/23 PLAI Labs <https://www.socaltech.com/intelligence/?action=showdeal&id=103242> Culver City $32.00 M 1/19/23 Oro Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103241> Los Angeles $13.00 M 1/19/23 ContractSafe <https://www.socaltech.com/intelligence/?action=showdeal&id=103240> Malibu $27.50 M 1/17/23 Sensible Weather <https://www.socaltech.com/intelligence/?action=showdeal&id=103239> Santa Monica $0.00 M 1/10/23 CRISPR QC <https://www.socaltech.com/intelligence/?action=showdeal&id=103238> San Diego $1.60 M 1/10/23 Cari Health <https://www.socaltech.com/intelligence/?action=showdeal&id=103237> San Diego $3.20 M 1/09/23 PBS Biotech <https://www.socaltech.com/intelligence/?action=showdeal&id=103236> Camarillo $22.00 M 12/07/22 Drata Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103235> San Marcos $200.00 M 10/21/22 Kudos Technologies <https://www.socaltech.com/intelligence/?action=showdeal&id=103234> Woodland Hills $7.00 M 9/22/22 TheoryCraft Games <https://www.socaltech.com/intelligence/?action=showdeal&id=103233> Los Angeles $50.00 M 9/09/22 Arena Club <https://www.socaltech.com/intelligence/?action=showdeal&id=103232> Los Angeles $9.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html ------------------------------ ------------------------------ ------------------------------ *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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