From high-capacity storage devices to luxury fashion brands, catch up on last week’s developments on the LA tech scene. This is the Built In LA weekly refresh.
Orecco raised $3.6M. Its tech utilizes data science, sports science, biometrics and AI to help athletes find ways to increase their performance. The raise was led by investor True Ventures and will enable the company to scale up its product and team. It’s planning to add 30 people to its headcount with a focus on staffing its LA performance center. [Built In LA]
Rivian got $2.65B. As climate change remains an ever growing concern, manufacturers of sustainable vehicles are working to address the matter in impactful ways. EV company Rivian closed on its latest funding round led by T. Rowe Price Associates to help support company growth. The Irvine-based company plans to bring its electric pick-ups, delivery vans and SUVs to market this year. [Built In LA]
LA Tech Quote of the Week
OpenDrives pulled in $20M. Based in Culver City, this company builds storage devices for large amounts of data. With its NAS solutions, companies are provided with low-latency, high-performance and optimization tech to help manage their data-heavy workloads. OpenDrives’ Series B round will help the startup expand into more sectors in addition to the entertainment world, such as the healthcare industry. [Built In LA]
GOAT Group secured new funding. Groupe Artemis made a strategic investment in the luxury fashion brand following the company’s $100 million Series E raise back in September. The previous round brought the company to a $1.75 billion valuation. With the new cash, GOAT plans to accelerate growth in fashion apparel and new categories. [PR Newswire]
