Relativity Space Raised $650M, NuOrder Acquired, and More LA Tech News

June 14, 2021
photo: NuOrder

These tech companies have humanity’s future in mind and are paving the way with new developments and ideas. Learn how they’re growing after last week’s action. This is the Built In LA weekly refresh.

Relativity Space pulled in $650MWith the capital from its Series E mega-round, this Long Beach-based aerospace company is all set to start building its latest rocket, the Terran R. Relativity specializes in 3D printing space launch vehicles. Projected for launch in 2024, the Terran R will be 216 feet tall, have seven engines and it will be entirely reusable. The company is also hiring 200 new team members to help along its mission. [Built In LA]

NuOrder was acquired by LightspeedNuOrder offers a B2B ordering platform for wholesalers, brands and retailers, and it was acquired by point-of-sale company Lightspeed for $425 million. The addition of NuOrder’s tech will help Lightspeed further its supplier relationships and transactions as the company serves 3,000 brands and 100,000 retail customers. [TechCrunch]

LA Tech Quote of the Week

“These funds give us the runway to go into the next phase of our business. We’re hiring across all disciplines and all levels of seniority. We’re also using the money to open new, bigger offices in Seattle and Los Angeles to accommodate our rapidly growing teams.” —Jeff Poffenbarger, COO of Mythical Games

Mythical Games secured $75MLooking to create a universal gaming system, the company uses blockchain technology and NFTs to help out players, developers and the like own in-game assets. With the cash from its WestCap-led Series B round, Mythical Games is gearing up to launch new projects as well as market its “Blankos Block Party” game to new platforms. It’s also currently hiring for dozens of positions as it pursues further growth. [Built In LA]

Dave is going public via SPACWith its mobile financial advice platform, fintech company Dave helps users with things like finding gigs and building credit. Now, it’s planning to step into the public sector via special purpose acquisition company VPC Impact Acquisition Holdings. Dave also received a $210 million investment led by Tiger Global. The company will trade under the Nasdaq ticker symbol “DAVE” and expects to reach a $4 billion valuation. [Built In LA]

Briq raised $30MOperating in the construction industry to help contractors more accurately predict the cost of renovations and better manage their workflows, fintech startup Briq pulled in its latest round of funding to further its mission. It also provides a banking platform called BriqCash to manage invoices and payments. Tiger Global led the Series B that brings Briq’s total funding to date to $46 million. [Built In LA]

Pluto TV’s revenue may hit $1BAs projected by Bob Bakish, CEO of ViacomCBS, the company’s television service Pluto TV is expected to hit an annual advertising revenue of $1 billion by 2022. The company has observed higher revenues from its ad-supported products than with its paid ad-free ones. Going forward, Pluto TV is planning to roll out internationally beyond its current 25 markets. [Hollywood Reporter]

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