LA among country's most active startup ecosystems
LA landed in third place in a recent Kauffman report ranking the activity in startup communities in metropolitan areas around the United States. The city finished just behind Miami and Austin. The report also ranked LA first in the country for its "Rate of New Entrepreneurs," which measures the number of new entrepreneurs for every 100,000 adults. [Kauffman]
Fair adds nearly $1B to change how we buy cars
Fair, a fintech startup that has created a platform allowing users to shop for cars that fit within a pre-qualified monthly payment range, announced it had raised nearly $1 billion in venture capital and debt. The money will allow the company to roll out its platform to the rest of California before launching in a number of cities in 2018. [Built In LA]
Science 37 completes successful virtual clinical trial
Playa Vista-based Science 37 announced this week it had successfully wrapped-up a "site-less" clinical trial, where 372 patients across 10 states used the company's proprietary mobile telemedicine platform to receive medical treatment. [Science 37]
Romeo Power releases its first product
LA-based Romeo Power, which is headed by former SpaceX and Apple engineers, just released a line of batteries the company claims can rival Tesla's. The 2.2-pound batteries — about the size of a water bottle — can reportedly hold 86 watt-hours of power, which is enough to charge a laptop twice. The devices also come with Variable AC, USB-C and two USB ports, and are capable of charging just about anything. [Business Insider]
ChowNow closes $20M Series B, takes aim at Grubhub
Playa Vista-based ChowNow wrapped up a $20 million Series B this week. The company also announced it has passed 8,000 restaurant customers — 65 percent of which fulfill their delivery and takeout orders exclusively on ChowNow. [Built In LA]
Neural Analytics wins $10M contract from the Army
LA-based medtech developer Neural Analytics won a big contract this week from a big government entity: the U.S. Army. The company won the rights to develop a portable device designed to assess combat-related traumatic brain injuries. [SoCal Tech]
Images via social media and Shutterstock.
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