NEWS: SoCal Funding Roundup July 27-31, 2020 — Heal, BioTheryx, Mira, Wave.TV, GeoJam, MomentFeed
Here are startups throughout SoCal that announced receiving investments this past week, July 27- 31, 2020.
And, also those that opened up new rounds or extensions.
And, entities that made investments or started new funds…
Orange County (pharmacy software): NowRx, which uses pharmacy software and last-mile logistics to provide same-day and same-hour delivery of prescription medications, closed a $20 million Series B round through SeedInvest.com, a Regulation A+ crowdfunding platform.
This round is reportedly the largest in SeedInvest’s history and brings the company’s total funding to $30 million.
The funds will be used to launch more of NowRx’s high-tech micro-fulfilment centers, to bring free, same-day prescription medication delivery to customers in additional area. The company will also use the funds to accelerate the tech roadmap for its proprietary pharmacy management software and logistics tech.
The company’s HQ is in Irvine, but it recently opened an office in Irvine.
Los Angeles (location search software): MomentFeed closed $10 million in funding, led by P.E. firm Level Equity. Previous investors Signia Venture Partners, Draper Nexus, and DFJ Frontier also participated. To date the company has raised more than $38 million in funding.
MomentFeed helps multi-location brand marketers capitalize on the digitally-driven consumer, who turns to their mobile device to research nearly every purchase. These consumers typically prioritize convenience over brand, as demonstrated by the rise in un-branded “near me” searches such as “grocery store near me” on Google and map apps.
The company’s proximity search optimization platform helps brands manage local listings, local reviews and ratings, and local social media across thousands of locations.
The capital infusion will fuel MomentFeed’s efforts to meet demand for its platform. The company intends to double the size of its research and development team by the end of the year.
(from the company’s website)
Los Angeles (music discovery platform): GeoJam, a participant in Santa Monica accelerator, Expert Dojo, closed $1.6 million in investment and signed Maria Carey as Chief Talent Officer. GeoJam is a gamified platform for music discovery, commerce and new experiences that rewards fans and creates new revenue streams for artists and businesses.
The startup is still seeking $50K for this round.
(from Expert Dojo)
Los Angeles News (sports digital media): Wave.TV raised $32 million in a Series A round, bringing its total raised to more than $38 million.
It produces sports content for Instagram, Snapchat, Facebook, Youtube and Tiktok.
The funding – which included both equity and debt – was led by CoVenture and GPS Partners, and also included existing investors Golden Ventures and Sweet Capital. The company said the funding will go to expand its portfolio of media brands.
(from a variety of sources)
Los Angeles (AR headsets): Mira raised $10 million more in a seed extension round. Sequoia and SF-based Happiness Ventures co-led this investment. The company has raised close to $13 million to date.
Mira develops AR headsets for businesses to keep track of their workflow. reality). It helps to digitize, standardize, and document company’s industrial workflows, while keeping teams connected remotely.
Los Angeles (in-home healthcare): Heal received an $100 million investment by nationwide health insurance company Humana, which includes a partnership. The effort will focus on bringing primary care to the home through house calls and one-touch telemedicine.
The two companies said they will expand Heal’s current footprint to offer primary care via virtual and in-home encounters to new markets like Chicago, Charlotte and Houston.
As part of the investment and partnership, Susan Diamond, Humana’s Segment President, Home Business, will join Heal’s Board of Directors.
San Diego (biotech): BioTheryX, which focuses on protein modulation, raised $35 million in a Series D round.
The funding was led by MSD Partners.
BioTheryx says is will use the financing to accelerate expansion of the ongoing clinical trial of its therapy, aimed at treating AML (acute myeloid leukemia).
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