Los Angeles tech moves slowed last week as innovations wound down after the holiday. However, SoCal did see a few new growth initiatives, including fresh rounds of funding. Read on for more in the Built In LA Weekly Refresh.
Bionaut Labs secured $43M. The biotech company is engineering micro-robotics tech that can navigate through the human body’s hardest-to-reach areas to deliver therapeutic drugs. Bionaut announced a round of Series B funding as it prepares to progress its solution through two FDA designations. Its goal is to combat brain diseases such as Parkinson’s and Huntington’s with its technology. [Built In LA]
Pearpop got $18M. The social platform enables users to purchase collaborations with celebrities and influencers on TikTok. Pearpop’s additional $18 million Series A capital from investors like Ashton Kutcher and Sound Ventures will fuel hiring, platform functionality, new sales partnerships and other growth initiatives. This additional capital brings Pearpop’s valuation to $300 million. [TechCrunch]
LA Tech Quote of the Week
Renno was featured in the Built In Future 5 series. Developed to make home improvement a breeze, Renno’s solution helps professionals and materials suppliers streamline their jobs. Its platform offers pros a marketplace solution to source their materials and provides suppliers with a way to grow their businesses online. Down the line, Renno plans to further its supplier-focused platform with new tools. [Built In LA]
Several LA tech companies raised funding in November. Despite a slower period for venture capital raises, a myriad of local companies managed to pull in funding for their tech solutions. In greentech and other industries, LA tech companies raised a total of more than $276 million in November’s five largest capital raises. [Built In LA]
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