From NFTs to films and trains, LA tech had some exciting announcements last week. Several companies raised additional capital and others are hiring. Keep reading to find out what these companies are up to next. This is the Built In LA weekly refresh.
Parallel Systems raised $49.6M. Three former SpaceX engineers founded Parallel Systems, a company that aims to make zero-emission trains that can carry more load across rail lines. Parallel Systems wants to build a future that relies on electric and battery-powered trains instead of diesel trains. The recent funding will be used to refine the company’s software and prototypes. [Forbes]
Filmhub got $6.8M. Andreessen Horowitz led a seed funding round for Santa Monica-based Filmhub. Filmhub allows filmmakers to deliver their films onto a streaming service, like Apple TV, without renouncing their rights. It also allows the creator of the film to still make a profit. The startup was founded by Klaus Badelt in 2016. Badelt is a composer and producer famous for the music in Pirates of the Caribbean: The Curse of the Black Pearl and Gladiator. [dot.LA]
LOS ANGELES TECH QUOTE OF THE WEEK
Autograph gained $170M. Autograph is an NFT platform launched by football star Tom Brady and Whip Media CEO Richard Rosenblatt. The company gained $170 million in a Series B round co-led by a16z and Kleiner Perkins. The funding will allow the company to hire additional staff, with 40 positions currently available across multiple departments. [Built In LA]
Mustard brought in $3.75M. Mustard is working to change the coaching industry across major sports. The company provides an AI-powered, sensorless platform for personalized coaching. The $3.75 million seed round led by the Lake Nona Sports & Health Tech Fund will be used to develop the platform. [PR Newswire]
