Fundraising for LA tech startups in July exceeded all expectations, bringing in $570 million thanks in large part to SpaceX's monstrous $350 million round of funding. But fundraising was much more modest in the month of August, with startups collectively raising $207 million. Here are the top five rounds:
5. Bridg $11 million, August 23
Bio: Marketing software startup Bridge, which uses artificial intelligence and big data to help restaurants and retailers identify who their customers are, closed its Series B funding this month, adding $11 million from LA-based Morpheus. March Capital, also based in LA, returned as an investor with NextEquity Partners and Visa.
4. The Young Turks, $20 million, August 14
Bio: The Young Turks, a media company headquartered here in the Miracle Mile area, closed a $20 million round of funding with the intention of doubling the size of its newsroom and business operations to around 200 employees. The 15-year-old company has live-streamed thousands of hours of video content.
3. Chef'd, $25 million, August 8
Bio: Just a few months after scoring a strategic investment from soup king Campbell Soup Company, El Segundo-based Chef'd kept up its pattern of eschewing venture capital in order to forge strategic partnerships. Adding to the total round, which now sits at $25 million, were Smithfield Foods and Fresh Direct.
2. Romeo Power, $30 million, August 24
Bio: Romeo Power, a Vernon-based startup that builds what it describes as "the most energy dense battery packs in the world," scored a $30 million seed funding this month. Serving a wide base of products, Romeo Power's batteries are capable of powering everything from industrial and electrical vehicles to consumer products like smartphones and tablets.
1. Sugarfina, $35 million, August 3
Bio: It's not often that fundraising news makes your mouth water, but then there's Sugarfina's recent $35 million raise. In early August, the luxury candy brand added the capital in order to bolster its burgeoning e-commerce platform, topping $50 million in fundraising since it was founded in 2012.
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