*socaltech.com <http://socaltech.com> TechNews - Thursday, June 29, 2023* 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 * - Report: Snapchat Now At 4 Million Paid Subscribers <#0083518> - TuSimple Aims To Sell US Business <#0083517> - Faraday Future Gets Another $90M <#0083516> - The Dawn Project Keeps Up Campaign Against Tesla <#0083515> - Correlation Ventures Raises $130M In Third Fund <#0083513> - Docupace Names CFO <#0083514> - Joyful Ventures Raises $23M Venture Fund <#0083510> - Jointly Jumps On AI Bandwagon <#0083511> - Activision Hit By DDoS Attacks <#0083512> - Zest AI Launches New Tool <#0083508> *Marketplace* - Pixelgate.net - Internet Access, Web Hosting, Network Services <#ad796> - Accelerating Growth For Early Stage Innovation. <#ad764> - From Idea to IPO - KPMG’s Emerging Growth Practice <#ad760> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> *Thursday, June 29, 2023* *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. *Report: Snapchat Now At 4 Million Paid Subscribers* <https://www.socaltech.com/fullstory/0083518.html> Venice, California-based Snapchat is expected to announce today that it has reached 4 million paid subscribers to its premium service, Snapchat+. The service--which costs $3.99 a month--was released in June of 2022, and is an attempt to diversify the company's revenue stream beyond pure advertising. Snapchat+ provides premium features to users which are not available to its normal users. The company said it hit 3 million Snapchat+ users in April. ( More... <https://www.socaltech.com/fullstory/0083518.html>) *TuSimple Aims To Sell US Business* <https://www.socaltech.com/fullstory/0083517.html> San Diego-based autonomous trucking technology developer *TuSimple <https://www.tusimple.com>*--which is facing delisting for failing to file its quarterly reports--says it is now looking to sell its U.S. business. According to an SEC filing, TuSimple Holding is "evaluating and reviewing strategic alternatives" for its U.S. business. The company says, if it is able to sell the U.S. business, it will instead focus on markets in the Asia Pacific region.(More... <https://www.socaltech.com/fullstory/0083517.html>) *Faraday Future Gets Another $90M* <https://www.socaltech.com/fullstory/0083516.html> Los Angeles-based electric vehicle maker claims that it has secured additional funding of $90M, plus an acceleration of an existing funding commitment of $15M. According to the company, the funding was led by existing investor ATW Partners funds, plus Senyun International. The company--which publicly trades on the Nasdaq as FFIE--says it will use the funding to support ongoing production and delivery of its FF 91 electric vehicle.(More... <https://www.socaltech.com/fullstory/0083516.html>) *The Dawn Project Keeps Up Campaign Against Tesla* <https://www.socaltech.com/fullstory/0083515.html> The Dawn Project, the public safety advocacy group which has gone as far as putting out a Super Bowl ad complaining about the dangers of the Tesla "Full Self-Driving" feature, says it has released new video showing the Tesla system running a stop sign while a Tesla investor was attempting to show off Tesla's safety. The group--led by tech entrepreneur Dan O'Dowd--insists that there are "alarming safety defects" in Tesla's Full Self-Driving (FSD). (More... <https://www.socaltech.com/fullstory/0083515.html>) *Correlation Ventures Raises $130M In Third Fund* <https://www.socaltech.com/fullstory/0083513.html> San Diego, San Francisco, and New York-based venture investor Correlation Ventures announced on Tuesday that it has raised $130M in its third fund, Correlation III. According to the firm, it now has approximately $500M under management. As part of the new fund, the firm said it has promoted Wesley Barrow and Moiz Saifee to Partners. (More... <https://www.socaltech.com/fullstory/0083513.html>) *Docupace Names CFO* <https://www.socaltech.com/fullstory/0083514.html> Los Angeles-basd *Docupace <https://www.docupace.com>*, which develops cloud-based financial management software for the wealth management industry, said it has named a new CFO. According to the company, it has appointed Leon Weiss as its new Chief Financial Officer. The company said that Weiss previously served at such companies as XOi Technologies, Nitrogen, Inland Business Systems and others.(More... <https://www.socaltech.com/fullstory/0083514.html>) *Joyful Ventures Raises $23M Venture Fund* <https://www.socaltech.com/fullstory/0083510.html> Los Angeles-based Joyful Ventures has raised a new, $23M venture capital fund, focused on "sustainable protein", the firm announced this morning. Joyful Venture said it is a climate venture fund aimed at propelling the "sustainable protein sector", and is looking at investing in startups who are developing plant-based, precision fermentation, mycoproteins, molecular agriculture, and cultivated technologies, with a strong focus on B2B. ( More... <https://www.socaltech.com/fullstory/0083510.html>) *Jointly Jumps On AI Bandwagon* <https://www.socaltech.com/fullstory/0083511.html> Los Angeles-based cannabis software developer *Jointly <https://jointlybetter.com>* says it has launched a new, artificial intelligence based product which helps "people find success with cannabis." In a sign of the ubiquitous adoption of AI, the company said it has created a "chatbot" which uses articles in its magazine to help people with "purposeful cannabis consumption".(More... <https://www.socaltech.com/fullstory/0083511.html>) *Activision Hit By DDoS Attacks* <https://www.socaltech.com/fullstory/0083512.html> Santa Monica-based *Activision <https://www.activision.com>* was hit by a major distributed denial-of-service (DDoS) attack over the weekend, which took down games such as Diablo IV <https://kotaku.com/diablo-4-ddos-attack-server-status-what-is-blizzard-rpg-1850574778>. It's unclear who was behind the attacks, however, DDoS attacks are not uncommon among the online gaming community.(More... <https://www.socaltech.com/fullstory/0083512.html>) *Zest AI Launches New Tool* <https://www.socaltech.com/fullstory/0083508.html> Los Angeles-based *Zest AI <https://www.zest.ai>*, which develops artificial intelligence-based tools for automated credit underwriting, says it has launched a new product. The company said its new Zest AI FairBoost tool provides "fairer, clearer credit underwriting" to financial institutions. The company said the company's technology allows its users to "more effective search" for less descriminatory alternatives (LDAs).(More... <https://www.socaltech.com/fullstory/0083508.html>) *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 *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 *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]. *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>* 4/13/23 Altruist <https://www.socaltech.com/intelligence/?action=showdeal&id=110844> Culver City $112.00 M 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 ------------------------------ *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). 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