While venture capital activity has been more laidback recently in the Los Angeles tech market, the funding hasn’t stopped, and companies across various industries are fueling growth. August’s largest LA funding rounds went to innovators in retail and robotics. Read on for more details.
Top LA Tech Funding Rounds, August 2023
- Ghost
- Serve Robotics
- Tenant
- GITAI
- MOSH
#5. $3 million, August 23
Foodtech company MOSH works with brain health doctors to craft protein bars. The company currently sells its product directly to consumers, but following a round of Series A funding led by clients of Main Street Advisors, MOSH will further its retail distribution strategy. It plans to sell in more than 1,800 stores by next year.
#4. $15 million, August 29
Space robotics company GITAI develops robots to help build and maintain satellites, space stations, lunar bases and cities on Mars. The company announced a $15 million addition to its Series B round that totals the round at $45 million. GITAI plans to expand its U.S. business operations and fund lunar surface demonstrations of its tech with the new capital.
#3. $25 million, August 8
Following an oversubscribed round of seed funding, Tenant, a SaaS company serving the self-storage industry, plans to advance product development, expand customer support and sales as well as increase its platform integrations. Tenant’s solution also announced its acquisition of Storelocal, a private membership community of independent self-storage operators.
#2. (tied) $30 million, August 21
The company develops robotic delivery solutions. Backed by investors including Uber, NVIDIA and Wavemaker Partners, Serve plans to put $30 million in new financing toward entering new markets across the country and advancing its AI-powered mobility platform. It also plans to expand its robot fleet in accordance with a commercial agreement to deploy up to 2,000 robots with Uber Eats.
#1. (tied) $30 million, August 21
Ghost offers a platform where retailers can discreetly and efficiently monetize their surplus inventory to buyers. The company serves customers in apparel, footwear, beauty and similar sectors. Its Series B capital from investors including Cathay Innovation will help Ghost fuel product development and new hires across product, engineering and design.
