Several rounds of venture capital poured into the West Coast tech scene last week, with companies from a celebrity-owned fashion brand to a metaverse platform pulling in sizeable rounds. Check out the latest with the Built In LA Weekly Refresh.
Komi raised $12M. The newly launched platform allows content creators and celebrities to create digital storefronts where they can access marketing tools, leverage a one-page checkout feature and more. Alongside its launch, Komi announced a Series A round from investors including RTP, Third Prime, Antler and E& Capital to expand its product suite and its U.S.-based team. [TechCrunch]
Futureverse pulled in $52M. Metaverse company Futureverse works to help developers create open, scalable and interoperable apps, games and experiences. The company announced a round of Series A funding from lead investor 10T Holdings to build out its tech. Its offerings include the Futureverse Platform as well as The Root Network, a blockchain and suite of protocols. [PR Newswire]
LA Tech Quote of the Week
“Recommerce should be a core pillar of a brand or retailer’s strategy. Our investors and brand partners share our enthusiasm about the evolution of this space, and this funding will allow us to expand our platform, continuing to lead this space with innovation and brand protection.” — Rachelle Snyder, CEO and co-founder of Arrive Recommerce
Arrive Recommerce secured $16M. Headquartered in Santa Monica, Arrive Recommerce works to help brands and retailers launch profitable and sustainable resale channels. The company pulled in a round of Series A funding co-led by Javelin Venture Partners and Climatic VC that it plans to put toward expanding its solution to more brands and operators. [PR Newswire]
Skims raised $270M. The apparel brand co-founded by television personality Kim Kardashian secured a hefty round of Series C funding led by Wellington Management. The company plans to open a flagship brick-and-mortar store location in Los Angeles in early 2024. In the meantime, its fresh capital will fuel product innovation and category expansion. [Retail Dive]
