The LA tech scene had a busy first week of March with news coming from various startups in the e-bikes, sneakers and metaverse industries. Read on for the latest. This is the Built In LA weekly refresh.
Thegamecompany raised $160M. The Santa-Monica based company gained $160 million in funding led by TPG. The fresh funds will make thatgamecompany’s famous games, Sky: Children of Light, into a theme park-like experience through the metaverse. The company is currently looking to hire new talent and grow its team to more than 150 employees. [Built In LA]
Counterpart gained $30M. Counterpart provides management liability coverage for small businesses. The Series B round, led by Vy Capital, will go toward expanding Counterpart’s footprint and hiring new talent. The company also plans to expand its product suite and introduce a new API platform in the future. [Built In LA]
HearHere got $3.2M. HearHere is an app co-founded by actor Kevin Costner that provides historical context to surrounding areas while users travel. HearHere gained $3.2 million in a seed round that will help the company prepare for its national launch. [Built In LA]
LOS ANGELES TECH QUOTE OF THE WEEK
Veo opened a second HQ in Santa Monica. Veo, a micromobility company making e-bikes and scooters, announced it has opened a second headquarters in Santa Monica. As the company expands, Veo plans to hire 300 employees by the end of the year. The new office on the Third Street Promenade will serve as a collaboration hub for its hybrid workforce. [Built In LA]
KYX World raised $3M. KYX World, a company that allows consumers to rent and buy sneakers, raised a $3 million funding round bringing its valuation to $16 million. The funding will go toward making an app and expanding its operations. SeventySix Capital led the funding round. [The Wall Street Journal]
M13 announced a new consumer technology fund. M13, a venture capital firm based out of Santa Monica that focuses on consumer technology, announced a venture fund of $400 million to invest in Series B startups in the money, work, commerce and health industries. The fund will also focus on Web3. M13 is currently hiring for several roles across a few teams. [Business Wire]
