CAA launches tech incubator
Century City-based Creative Artists Agency announced recently it would be launching an incubator to foster local tech and media companies. The organization announced it had raised $12.5 million for the program. [Biz Journals]
Cinematique names new CEO, raises $1.4M for shoppable video
Cinematique, a company that produces "touchable video" that allows viewers to inspect items within the content, has brought investor and entrepreneur Paul Dawalibi in as its new CEO. Co-founder Kyle Heller will stay on as chief strategy officer and will lead the company's production team in LA while Dawalibi grows the sales and marketing side in New York. [Press Release]
Elon Musk offers sneak peek into The Boring Company's LA tunnel
Elon Musk, the entrepreneur responsible for SpaceX, Tesla and The Boring Company (pun intended), recently offered a sneak peek into the latter's new tunnel. Complete with cabling, paneled walls and ventilation, the stretch of tunnel reportedly goes for about 500 feet. Musk later said that the tunnel will stretch from the LAX to the 101 in the next year, meaning it would pass under some of LA's most affluent neighborhoods. [Gizmodo]
Ring, Hyperloop One named to prestigious LinkedIn list
LinkedIn published a list of the platform's most popular companies and startups this week, and two notable LA startups made the cut. Ring checked in at number 29, while Hyperloop One finished at 37. [LinkedIn]
Amazon Studios announces plans to leave Santa Monica for Culver City
As people continue guessing where Amazon's new HQ will land, the company's content production division, Amazon Studios, announced a move to Culver City. The company of 700 will be relocating from its Santa Monica abode to a 280,000 square foot spot in The Culver Studios. [SoCal Tech]
Tech Consulting firm West Monroe Partners announces acquisition, grows LA presence
West Monroe Partners announced on Thursday morning it has acquired CAST Management Consultants, effectively growing its LA presence by 50 percent. The company also revealed plans to grow the office by another 35 percent in 2018. [West Monroe Partners]
Fundings of the week
PayQwick, $2.86 million
PayQwick, a Calabasas-based startup that allows legal marijuana businesses to pay each other electronically, announced this week that it had raised $2.86 million in funding. The company said it plans to use the funds to accelerate sales and product development as the company expands in the rest of California, Nevada, Michigan and Alaska. [PayQwick]
Images via social media and Shutterstock.
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