October was a big month for LA tech companies raising new funding, with a handful of them pulling in eight- or nine-digit sums. Built In ranked the five biggest funding rounds of the month, which add up to more than half a billion dollars.
#5, $50 million, October 16
Wheels created a compact e-bike to take on the e-scooter micro-mobility trend and provide an alternative form of transportation in urban areas. Wheels announced they raised more than $50 million in an oversubscribed funding round led by DBL Partners. The company hopes to use the funding to bring its e-bikes into more markets in the U.S. and abroad.
#4, $60 million, October 28
PeerStreet's platform lets investors put their money into real estate loans in order to see consistent returns. PeerStreet's $60 million Series C round was led by Colchis Capital. The company said it will use the funding to hire more employees and expand its reach.
#3, $65 million, October 28
Scratchpay provides payment plans for veterinary care. The company has partnered with more than 5,000 veterinary hospitals to provide care to tens of thousands of pets. Scratchpay raised the $65 million in debt and equity through its Series B, which will go toward product development. It will also help address the demand for pet payment options from a growing user base.
#2, $140 million, October 1
Relativity Space is building rockets to launch into space. The company is working on a completely autonomous rocket factory and constructs rockets using 3D printing. It raised a $140 million Series C funding round to launch a fully 3D-printed rocket into space, which it intends to do in 2021.
#1, $200 million, October 29
Scopely is a mobile game publisher that is home to several mobile games and forms of interactive entertainment. Scopely has found success in acquiring individual games and game studios — like it did for its game Star Trek Fleet Command, which made $100 million in less than a year. So this $200 million Series D funding round is intended to help the company with its acquisition and investment strategy.
