Tencent’s New LA Office, Red 6 Raised $30M, and More LA Tech News

June 7, 2021
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photo: Red 6

LA tech startups are growing and pulling in venture capital. Find out who’s leading the way for tech innovations on the West Coast. This is the Built In LA weekly refresh.

Red 6 raised $30MBased in Santa Monica, the company creates military training environments using augmented reality and artificial intelligence tech. With its fresh injection of Series A capital led by Snowpoint Ventures, Red 6 is looking to further its technology and expand its training capabilities. The company is working to combat the military pilot shortage and provide more resources to train them. [Los Angeles Business Journal]

Tech leaders of color pave the way for innovationThe majority of venture capital in the U.S. goes to white men. Last year, of $150 billion of VC raised, only $1 billion went to founders of color. VC firms voted on some of the top names of individuals of color leading the way for the future of LA’s tech startup scene. Some names include PlayVS founder and CEO Delane Parnell, angel investor Troy Carter in the music management space, and Donny Salazar, co-founder of logistics company MasonHub. [dot.LA]

LA Tech Quote of the Week

“I am proud to once again increase my investment from Shark Tank in Ready, Set, Food! to continue the important fight against food allergies. I know the impact allergies have on families, as I experience it firsthand as a parent of a child with a severe peanut allergy. Ready, Set, Food! provides an easy answer to the challenge of early allergy introduction and we'll continue to be sure all parents have the access and the ability to protect their children from food allergies.” —Mark Cuban, Ready, Set, Food! investor

Ready, Set, Food! got $3.5MSpecializing in organic allergen introduction for babies, the company grabbed fresh funding in a round led by Edward-Elmhurst Health. The company is powered by a team of physicians and allergy research experts, and offers a three-stage system to help introduce allergens. This raise follows the startup’s $3 million funding round last year where investor Mark Cuban led the round. [PR Newswire]

Tencent expands into Playa VistaVideo game publisher Tencent America is opening a 53,000-square-foot office on West Jefferson Boulevard. The space includes amenities like a cafe, fitness center and game rooms. Tencent is looking to double its LA workforce of 150 over the next three years and is hiring talent across video game design and development, programming and data engineering. [Built In LA]

Next Energy pulled in $13.4MThe company develops transparent energy-harvesting window tech. Based in Santa Barbara, Next Energy closed on its Series C funding round led by Alon Blue Square Israel. It’s spending the funds on accelerating the transition to large-area window coating, pilot installations, durability testing and getting industry certification. [FinSMEs]

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