Venture capital rounds were abundant in Tinseltown last week. From a sports metaverse company raising $200 million to a supply chain platform pulling in $7.5 million, funding rounds ranged in size and by industry. Read on to see how these companies plan to spend their latest dough. This is the Built In LA Weekly Refresh.
Kate Farms raised $75M. The Series C round led by Novo Holdings will be used to create new products and launch new channels. Funds will also be used to innovate Kate Farm’s product portfolio, which currently includes organic, plant-based and clinical formulas for those with chronic illnesses. Kate Farms is in its seventh year of sustained growth and will open its first innovation and quality center this month, according to a statement. [PR Newswire]
Scratch Financial gained $35M. The Pasadena-based company provides financial and payment tools for medical clinics and veterinary offices, including a “care now, pay later” option. Led by Norwest Venture Partners, the Series C round will be used to develop new tech to help clients and medical professionals better connect. [Built In LA]
LA Tech Quote of the Week
LootMogul pulled in $200M. With a fresh investment from Global Emerging Markets, LootMogul is building a Web3 platform aimed at connecting sports fans in a virtual world. The Santa Monica-based company’s metaverse will allow athletes to interact with fans, earn money through royalties and own virtual real estate, including stadiums and training studios. [Built In LA]
RKVST got $7.5M. Santa Clara-based RKVST allows businesses to build verifiable digital supply chains to track and share data and assets with their partners. The company’s Series A round will go toward go-to-market plans, the development of new features, growing its partner ecosystem and more. [Business Wire]
SimplePractice announced a new CPO. Ian Knox, who previously worked at Compass and Expedia, has been appointed as SimplePractice’s new chief product officer. Los Angeles-based SimplePractice works with over 140,000 healthcare practitioners every day to simplify the health a wellness experience for patients and medical professionals. The company is actively hiring for its data and analytics, engineering, marketing, sales and products teams. [Business Wire]
